How to
Create an Innovation Ecosystem
by Art
Markman | 12:00 PM December 4, 2012
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When we
talk about innovation, we often focus on individuals. Take the endless
fascination with Steve Jobs as an innovative leader, or our innate tendency
to attribute a discovery to a single
inventor. In
business, we generally identify good innovators and nurture their ability to
generate creative practical solutions to new problems. There is less focus on
the kinds of structures that promote a culture of innovation.
At the
IC2 Institute at the University of Texas, we have been exploring the ecosystem
of innovation using the Austin Technology Incubator (ATI) as a model.
While traditional incubators focus on providing
inexpensive space and business advice for new companies, ATI, under director
Isaac Barchas, helps early-stage technology companies to get their first round
of funding.
The
program functions a lot like a coral reef for start-ups. In the ocean, a reef
provides a structure that protects fish, provides food, and creates an arena
for marine plants and animals to live and thrive. Likewise, ATI brings together
new companies, experienced business leaders, faculty researchers, government
officials, established technology companies, and investors. This environment
provides those new companies with a wealth of technical expertise, business
experience, and access to capital that supports innovation in the early stages
of growth.
Many large organizations innovate in a different way.
They often have internal experts on idea generation or external consultants who
work with groups to generate ideas. At that point, existing business units
within the company take on the task of pushing a new idea forward until it can
be brought to market.
If your
organization relies heavily on individual innovation, consider creating your
own innovation reef, where creative problem-solving experts develop a network
of individuals skilled in bringing new ideas to market. There are three
essential elements to creating this in your company:
Get the
right people involved. The innovation network has to include upper-level
management that can fund projects, leaders who have had success with past
innovations, technical experts, and external consultants.
Cultivate
the network. This extended group should have opportunities to mix together
in productive ways. Hold regular meetings, events, and talks where innovators
from across an organization can get together and share their experience. Lead
innovators need to meet regularly with a variety of groups within a company
that are working on innovative projects to help connect together groups that
are undergoing similar problems.
Educate
others. In order for best innovation practices to diffuse through an
organization, it is important to develop those ideas before projects begin. The
innovation network should implement a company-wide education program on how to
develop good ideas and how to transform good ideas into actionable plans to
bring those ideas to market. These lessons should be delivered both to the future
leaders within the company (which many companies do well) as well as broadly to
the rank-and-file who will ultimately play a significant role in innovation
success (which fewer companies do well).
A core
aim of an innovation reef is that the innovation network within a company is
responsible for creating a structure that promotes innovation, but need not
govern the innovation outcomes. The positive element of creating a broad
innovation ecosystem is that groups involved in innovative projects will reach out
to each other directly to solve problems rather than requiring a central office
to mediate all communications. This loosely-coupled structure helps to create a
culture of innovation, rather than top-down governance, allowing innovative
ideas to not only be formed — but also thrive and grow.
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