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Corporations from Disney to Starbucks to Unilever establish accelerators and incubators to advance their disruptive innovation initiatives. We explore * 4 models for corporate accelerators/incubators * when to establish an accelerator/incubator * how to increase the value and success rate of corporate accelerators/incubators * what kinds of teams are needed to run a corporate accelerator/incubator * how to proceed with the best startups from an accelerator/incubation program
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Corporate Accelerators/Incubators and Disruptive Innovation
Based on: Re-Imagining Corporate Innovation
with a Silicon Valley Perspectiveby Evangelos Simoudis
http://corporate-innovation.co/ September 18, 2014
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©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
What is a Corporate Accelerator?Corporate accelerators and incubators aim to help startups get off the ground successfully, typically in exchange for a small equity percentage in each startup. Key differences between accelerators & incubators:1) accelerators invest in their startups ($20k to $100K in each) and incubators don’t 2) accelerators support startups in groups or classes while incubators do so on-demand
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©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
The Corporate Accelerator TrendCorporations are establishing accelerators and incubators to advance their disruptive innovation initiatives. They do so on their own or in partnership with independent accelerators like Techstars. When done correctly, accelerators and incubators can have more long-term impact more cost effectively than acquiring innovation.
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©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
4 Models of Accelerators/Incubators
1. Step in the innovation process (work on disruptive solutions, pursue potential disruptions)
2. Pay it forward (facilities & training provided, no equity taken)
3. Develop intrapreneurs (teams of entrepreneurial employees)
4. Test new work environments (w/ core startup characteristics)
And select corporations pursuing these models
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©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
When to Establish an Accelerator/Incubator1. Access outside talent and innovative ideas around
an open-ended objective 2. Train intrapreneurs by placing them in an immersive
environment 3. Stimulate startup activity around a
new platform 4. Spur innovation in an area (industry, sector) where
little is happening
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©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
What an Accelerator/Incubator Involves• Selecting the right founder teams to incubate • Training teams on lean methods and agile
startup models • Managing startups being incubated • Pruning out startups that can’t translate their
idea into a product • Establishing the right culture • Exiting successful companies
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©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
How to Increase Value & Success Rate• Obtain and maintain executive sponsorship
and funding • Recruit the right mentors • Provide the right incentives for the
entrepreneurs • Make the incubator/accelerator part of the
ecosystem it operates in • Create simple contracts that define the
startup-accelerator/incubator relationship
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8©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
Teams Required• Project selection and final evaluation -
corporate employees and outside experts • Mentors - corporate executives and outsiders
with startup experience • Education - may consist entirely of outside
speakers • Operations - managing director, business
development and marketing managers, administrative support, relationship managers
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9©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
How to Proceed with the Best Startups4 options for incubators/accelerators using accelerator models 1 and 2
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10©2014 KITE Solutions Inc. All Rights Reserved. KITE, GETKITE and all associated logos are trademarks of Kite Solutions, Inc.
More Info on Corporate InnovationBlogRe-Imagining Corporate Innovation with a Silicon Valley Perspectivehttp://corporate-innovation.co/
Evangelos SimoudisSenior Managing Director Trident Capital @esimoudis
KITE https://getKITE.co/ | @[email protected] | 415-754-8302
