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Day II
Attended OIS 2010 organized by World Research Group at Millennium Hotel Chicago, key innovators like Cisco, P&G, J&J, HP, Clorox, BCBS, etc. were present.
Key learnings:
PepsiCo
– Colliding market forces and trends create unique market dynamics
– World was: 1.0, Mobil, web, social , shopping , World is 2.0 social networks, shopping ratings, reviews, Mobile 2.0
– Will be? 3.0 …all about digital savvy and empowered consumer:
Less impulse buys, better informed decisions
– Shift from in store decision to outside of the store
– Trusted information sources are evolving, 90% trust friend opinions vs 25% advtg
– Increased pre-shop diligence
– “Digitally-empowered purchasing path” (pinball machine/any factors)
– Lasting & Engaging Connection through differentiated experiences
– Understand consumer experience context …pyramid
– Observe, ideation, prototype the experience, build/launch
– Continuous value creation
– Key points: Use direct connections with digital tools
– Storytelling resonates: Transmedia
– Great context needed to support great product
Maddock Douglas (www.maddockdouglas.com )
– Who are you missing, you have a Paul Potts ? Unrecognized
– Big ideas failed because of innovation misalignment
– I…because…but…
– Portfolio Innovation Framework (see MD or BW)
– All about mining, open crowd sourcing mining success story
– You cannot read the label when sitting inside the jar…
– OI is about Wisdom
– Benefit search…
– MD; Global Expert Network, get more out of the jar
– Light at the end of the tunnel has been turned off
- You are in the Jar
- Create culture of learning not knowing
- Evolutionary innovation
- Don’t stop looking for treasures…
ThinkThank feedback
– Top characteristics- Open Innovation
- Risk
- Proactivity, seeking others virtually
- Opposite of “not invented here”
- Leverage (external) others
- Adaptability/courage
- Collaborate to compete
- Customer focused approach
- Persistence
- Communication
- Vision
Key 3:
– Adaptability
Experiment, manage risk, adjust
– Communication
Holistic: External & Internal
Consistent, deliberate strategy
– Vision
Clear sense of why
Set Context
Create sense of urgency
Examples: Apple, Boeing, Cisco, Disney, GE, Gen Mills, HO, Intuit, Kraft, Nasa, P&G
Perception Partners: (www.perceptionpartners.com )
– IP Analytics & Partner development
– Who is your partner?
– Scouting, Contests, Data mining, Grants, Social communities, Licensors
– Various Sources reveal Internal & External Networks & Players
– 10 Insights/challenges (see Twitter #OIS10 )
- #1 surrender to uncertainty…
Thomson Reuters (www.thomsonreuters.com )
– Creatively Found Elsewhere
– Citation research key source
– Tree flow of IP links
– Theme scape mapping
Grundfos: Open Innovation as a strategic agenda
– Pump leader
– CEO driven Innovation Initiative
– Many changes effecting business
– Matrix org, Breakthrough organization
– CEO training and coaching was essential
– Road ahead more Open Innovation feed the pipeline
Evolution of a great idea
– Growing Social media/Communities
– Manor Tx Innovation efforts…citizen engagement www.manorlabs.org
– Cisco I-Price, annual Innovation contest and price
– People find each other and collaborate
– Continued draw to stay engaged is key to successful OI
- Thank Big: Bold Vision
- Disrupt: Try something new
- Start small: solve simple pain points well
- Evolve Quickly: 5 phase plan
- Start: lead & Others will follow
- Communicate: Often & Simple
- Believe: with Passion
J&J Creating the Innovation Sandbox
– Leveraging the power of entrepreneurial employees in OI
– All about enabling and not just one way to do things
– 510K shorter path to market (FDA)
– Give ideas a chance…often reason for failing
– Aiming for protectable patient benefit
– IO helps taking early risk out of projects
– A dedicated OI team can provide protection early on
– Link- Leverage Internal Knowledge (Tacit software)- Tech Transfer
– Tools: Sanctuary, Air Cover, Validation, Broker, Aggregator and Funder
Cosat : Accessible Innovation EcoSystem
Protecting& Sharing IP to reduce Risk/Optimize results (Manitowoc Food service)
– Investment Decisions
– OI+IP=Value to Customers and Shareholder
– Technology driven by Market Trends
- Simplification, Quality, Speed, CO2 reduction
– Foreground IP, ownership …
– Inventors long list of need and wants
– Rights Management in Agreements Key to success
– #1 Innovation value increases with IP protection and delivered comp advantage
– #2 Inventor and Adopter risk perception and risk tolerances vary
– #3 IP Control mitigates Risk
For notes on AT&T and Whirlpool presentation see Twitter string at #OIS10
Notes on Day One See: http://www.www.innovationcoach.com/second-open-innovation-summit-chicago/
For more minute by minute notes see Twitter #OIS10