business model innovation

product & service innovation

process innovation

technology innovation

Types of innovation

idea creation in the mind

idea commercialisation act

(Princeton University)

( ( ) )

The process or activities by which a company adds value to an article.

Generation Conversion Diffusion

Internal Cross-unit External

Generation

Evaluation Development

Conversion

Diffusion

Market introduction

“A company’s capacity to innovate …

…as good as the weakest link in its innovation value chain.”

LINK SUB-LINKInternal

Cross-unit

External

No open innovation strategy (no / little

sourcing of ideas from customers,

competitors, etc)

Evaluation

Development

Idea DiffusionMarket

introductionDeveloped ideas rarely generate profits

Ideas rarely converted into marketable

products/services

Idea Generation

Employees don't generate ideas, little

collaboration between employees

Idea Conversion

No platform

to formally

capture

WEAK LINK IF…

Criteria too strict (kill ideas) or too loose (swamped

with ideas outside competency)

Creative, unstructured

concepts

Structured, managed execution

Software

Creative, unstructured

concepts

Structured, managed execution

creative techniques & organisation-specific creative content and idea campaigns via e-mail

internal & cross-unit collaboration

Initial Assessment

Idea Evaluation

Project Planning

Project Execution

Project Evaluation

Peer Review

Initial Assessment

1st Evaluation

Classification

Business Case

2nd Evaluation

Classification

Feasibility Study

Exco Review

Budget Allocation

Allocated Resources

Pilot Project

Pilot Feedback

Review Readiness

Project Execution

Project Evaluation

Lessons Learnt

Rewards

The Novixo Innovation Funnel:

Required features: Innovation Management Application

Technical

• Configurable

• Scalable

• E-mail notifications

• SaaS / Enterprise installation

• Active / Sequel directory

• Company branding

Functional

• Management of ideas from

submission to execution

• Idea campaigns

• Comprehensive reporting

• User friendly

• Open Innovation module

• Reward allocation

comprehensive reporting to track idea progress

Qualitative: Opinions - strength of 5 pillars

Quantitative: Factual; precise