I shared the key components needed for an Innovation Funding Board (IFB) to function effectively, including the importance of establishing what success will look like at the outset. Now, I’ll break down the innovation process itself—and the key stages needed to take a great idea from initial inception through to full implementation.
There are many ways that the innovation process can be approached, depending on the ultimate goals of those involved. The method described in this blog uses a build/test/learn approach to encourage a lean startup mentality amongst project teams. There are four main phases involved: Ideas; Rapid Evaluation; Incubation; and, finally, if a project is successful, Implementation.
There are many ways that the innovation process can be approached, depending on the ultimate goals of those involved. The method described in this blog uses a build/test/learn approach to encourage a lean startup mentality amongst project teams. There are four main phases involved: Ideas; Rapid Evaluation; Incubation; and, finally, if a project is successful, Implementation.
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