the cto's new playbook for creating innovation
TRANSCRIPT
The CTO’S New
Playbook For Creating
Innovation
New “innovation enablers”
Innovation
TechniquesHackathons
CrowdsourcingInnovation Labs
Incubators
TechnologyOpen dataOpen APIs
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New “innovation enablers” emerge
Spur rapid prototyping and development
Significantly lower cost than centrally-funded R&D
Foster creativity by bringing together disparate perspectives
Take advantage of increasing availability of data
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Hackathons drive rapid prototyping at low cost
Shift the emphasis away from writing code
Use prizes to motivate and lay the basis of the next hackathon
Don`t insist the hackathon is just about you
Follow-up afterwards
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And if you still think hackathons are Silicon Valley gimmicks…
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APIs enable data to drive new business ideas
Developing effective APIs will require investment
Consider APIs as the mechanism to build a data-driven community
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Innovation labs provide a path around the corporate hierarchy
Resist the temptation to bring the digital lab into the corporate fold
Manage tension between the lab and the mothership
Ensure the lab looks to partnerships
Look to innovation hubs, but not just Silicon Valley
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Deutsche Bank looks to partners for its labs
Work with partners where necessary– Faced with new financial services challengers,
from Apple to PayPal, Deutsche Bank set up innovation labs with various tech companies including IBM, Microsoft, HCL Technologies
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Automotive manufacturers rethink innovation approaches
Source: Source: https://www.enterpriseirregulars.com/100181/innovation-driven-disruption-automotive-value-chain-part-2/
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Incubators enable firms to take a venture capital mindset
Separate from setting up their own digital labs, increasingly firms are investing in start-ups and potential partners
Set up dedicated innovation funds, and engage with start-ups
Barclays started an accelerator program together with venture capitalists Techstars
Create a startup mentality
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Recommendations
Don’t reinvent the wheel - take best practices from across industries
Look to partners with expertise in new techniques
Thank you!
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Belatrix Software
@BelatrixSF
Belatrix Software
Belatrix Software Factory