Second Open Innovation Summit Chicago Aug 11-13, 2010

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:

– For Open Innovation to succeed you need diverse teams that have members that have 7 key softskills (according to Unilever OI manager)

  1. Intrapreneurial skills
  2. Talent relationship building
  3. Strategic influencing
  4. Quick study
  5. Tolerance of uncertainty
  6. Balanced optimism
  7. Passion

– Hard to find the right combination but soft skills are as key as hard skills
– Communication critical success factor/ element to make (open) innovation successful
– Clorox is expanding OI efforts from Downstream to Upstream, through networks and communities

  • Cultural fit is key success factor to create value together in OI
  • “Assessment of degree of difference” to decide to work on project/idea
  • Identify top 3 killer issues, risks to establish exit
  • Network Architecture important (technical/consumer/economical)
  • Leverage internal networks/build external
  • Networks Catalyze and Communities innovate
  • Network/Connect, Community/Create, Organization/Execute…

– Cisco: 78% of revenue goes through strategic partners

  • Alliance lifecycle model: Evaluate, Form, Incubate, Operate, Transition, Retire
  • 2050: China 25% of global market back as in 1820…
  • Portfolio management developing: systematic management of group of relationships
  • From command and control to Teamwork and Collaboration
  • Looking for Market Adjacencies (execution & prioritization the challenge), filter through dashboards.
  • Creating ecosystem of partners to address marker adjacency: Board, working group, work streams

– P&G:

  • Started with floating soap Ivory
  • Consumer is boss
  • Wanting to reach more consumers
    – Open Innovation is complex
    – Teamwork across many more elements/groups
    – Organizational model: Vision/mission/strategy RROI
  • Skills Required: Trust, Seamless Collaboration, Speed & Agility and Networking…
  • Open Innovation only works when internal innovation is working well, structured and sustainable apply “Robert’s Rules of Innovation”
  • We can create more value together than we ever could alone. Latest Connect & Develop: new (Ohio) statewide collaboration agreement and efforts between universities and P&G. (Universities working together and with P&G to develop and solve challenges)

Key learnings p.m.:

– Roundtable discussion on Healthcare innovation, OI Metrics and protecting the OI relationships
LG: “Collaborate & Innovate”
o Without strong commitment of top mgmt efforts will fail
o OI should be integrated in overall Innovation strategy
– Need systematic way to record ext organization /technology info, manage and share
– Need active IT System to make OI work
– Define needs/Technology Scouting/Technology Incubation/Collaboration Mgmt
– (10 broad themes, 29 specific needs)
– Needs defined by bottlenecks
– Define your needs correctly
– Keep your initial screening process simple, fast and lean
– Shift from closed to OI long journey

– Where and How? Innovation
– New Business Creation Process: Front end /Incubation/commercialization
– People & Process!  Connect internal and crowd source
– Secret sauce: combing online and off line collaboration techniques: collective intelligence and corporate entrepreneurship= collective entrepreneurship
– Venture Fest Process: Buss Competition: Generation & Selection 3-6 mo., Bootcamp, 3 mo., Proof of concept 3-6 mo. ->bu sponsor
– Internal and external training for managers going through the process to get them ready to present to the CEO

Roche : Case study of the Alliance framework
– Accu-check diabetes epidemic remedy
– Goal of self management of patient treatment
– Needed web based technologies to complement strengths
– Cell phone solutions for reminders and data monitoring
– Applied The Alliance framework

For Day Two Notes see:

For additional notes go to Twitter string (and Search)  #OIS10

CLICK HERE for Day II Open Innovation Summit Highlight Recap