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This talk discusses a novel approach to how an innovation champion behaves when partnering to bring innovation into their company
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Innovation PartnershipsBeing the Benevolent Virus
Malcolm De Leo
Delivering something better by thinking and acting differently.
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Why are innovation partnerships like a virus??
Innovation
The Corporate Body
The body will resist invaders
It can take over as it spreads
Its entry goes unnoticed
It targets a particular system
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Transaction Relationship Partnership Creationship
Definition Unemotional Business
Open Minded Business
Collaborative Business
Innovative Business
Trust Level Neutral Open Respectful Committed
Goal Get Things Done Listen and Learn Leverage StrengthsCollaborate Instinctively
Output Incremental Results Tactical Results Strategic Results Unique Results
What makes Innovation Partnerships Different?They are founded on a creative common purpose…
We strive to avoid the land of the standard…
to find the place of unique collaboration
Collaborative Innovation – Trust Robert Porter Lynch and Todd Welch
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Innovation Partnerships – Process OverviewCommitment to the vision is the key to success
Expose
Envelop
Infect
Breed
Thrive
Be an Innovation Speed Dater
Build a Team Within a Team
Grab an Innovation Foothold
Utilize the Concept of BEVIA
Deal for Lasting Joint Gain
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Exposure: Innovation Speed DatingOwn your partner by understanding
Innovation Extraction: Thoroughly understanding the value proposition within 15 minutes of exposure
Innovation Speed Dating is…• Focused on understanding• Striving for connection• Innovation empathy• Trusting it works• Stretching beyond their vision
Innovation Speed Dating is not…• Focused on doubt• Looking for standards• Needing proof to believe• About your company’s interests• Fitting today’s agenda
Innovation Speed Dating is Critical for….Establishing trust and team
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Envelop: Team within a TeamLoyalty to your partner is more important than your company
CorporatePartner
Why? Commitment to the vision is theFoundation of the Creationship
InnovationPartner
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Experimentation IssuesManaging partner interestsStake holder buy-inFitting experiment to strategyBalancing $$$$$$$$$$$
Key questionsCAN YOU MANAGE EXPECTATIONS?CAN YOU FIND EQUILIBRIUM?CAN YOU BALANCE THEM ALL?
Infect: Set up the Petri DishInnovation is risk and overcoming it involves experimentation
Fin
anci
al A
uth
orit
yLandscape
CXO
Manager
Director
VP
Contributor
Project Leader
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Breed: Proliferation is not a linear processInnovation ownership must be attacked at all levels at all times
Believe
Experiment
Validate
Integrate
I get it
I want to try it
I want to try it again
I want to use it over here
I want to use it everywhereAdapt
Company
Functions
Individuals
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Kinship
Thrive: Negotiate beyond the deal…Creationships exist beyond business terms
Expose
Envelop
Infect
Breed
Relationship
Credibility
Ownership
Formalize YourCreationship!!!!
Key things to think about
• It shouldn’t feel like negotiating• Think towards the test of time• Consider your culture!!!• Don’t forget how you got there• Both sides should own it already• It must be bigger than YOU!!!
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Case Study: Fortune 500 meets Internet Start-upThe principles create lasting joint gain for all
The START-UP Interest: Create revenue to validate
business model and achieve Series B Funding
StrengthsInnovative offeringCollaborative Management
WeaknessesNon-traditional technologyTime pressure to succeed
The FORTUNE 500 Interest: Identify capabilities to help
develop leading edge consumer products
StrengthsPartnership strategy/infrastructureWilling internal experimental partner
WeaknessesInsular ThinkingSponsor not long term economic buyer
Key approaches for success• “Teach” the start-up what the obstacles are in an honest way• Utilize the principle of financial landscape versus authority to create experiment• Fight for a cross-functional team to own the new capability and diversify future sell
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Results…. Expose: Fortune 500 sells unique experiment to Start-up Envelop: First deal completed at $150,000 below asking price to enable willing internal experimental partner to own the relationship success
Infect: First project lead to critical recommendations that helped successful launch on new consumer brand creating validation of new approach
Breed: First key deal enable over 30 key projectsTens of critical consumer insightsPresentations to multiple stakeholders across levels and functionsOpportunity to participate in acquisition work
Thrive: Relationship continues after 4 yearsThe Fortune 500: houses unique capability leading to real value on the marketplaceThe Internet Start-up: Over $1MM invested in partnership
Case Study: Fortune 500 meets Internet Start-upThe principles create lasting joint gain for all
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Lessons learned…top five things
Each step is key to making the journey happen Challenging those around you to ask not “yes, but” but “yes,
how” can be a catalyst for change Optimism and trust are what makes creationships possible Politics is the death of innovation…know your way around
the playing field Leading from the balcony will give you the patience to
succeed!