Innovation pitches in front of chairmen

Incubator and accelerator program to grow innovative ideas into legitimate start-ups
Incubator and accelerator program to grow innovative ideas into legitimate start-ups
Stakeholders: 
Large Company
Objective of approach: 
  • Staying ahead of technology and market changes through innovation
  • Produce innovative products (deliver value to customers)
  • Allow employees to pursue their business ideas without the need to leave the company

Anyone with an idea can show up, but individuals and teams get 10 minutes, and only 10 minutes, to present an idea. Top executives listen to the ideas and then take 10 minutes to ask any follow-up questions. To enter a pitch event, all that´s needed is a solid idea. Once teams are brought into the program, it runs in a fashion similar to some of the more well-known start-up accelerators out there, such as DreamIt and TechStars. Each team is run like its own start-up. The people on those teams are called founders. Founders are given advisers after their skills have been assessed to determine where gaps are in their thinking and talents. Investment money for each team comes from a pool, and each start-up receives a budget - that way they know exactly how much money they have to take their start-up from the idea stage to the execution phase. Every month, founders have "Pivot / Pause / Persist" meetings with their advisers, during which they determine whether a new business should shift its approach, keep on going, or stop entirely.

USP: 
  • Allow employees to grow their own business ideas inside the company (intrapreneurs) and leverage their talent
Resources: 
  • Innovation departments
  • All employees of the company (providing ideas)
  • Video conference rooms for pitching
  • Investment depends on the project
Success factors: 
  • Ability to provide with support the employees to grow their business idea, not just the time to dedicate to the project and office space
  • Effective mentorship
  • Ability to evaluate the management capability of the intrapreneurs and assist them in learning those skills or finding other people to manage the future company
  • Fully formed strong business plan
Barriers: 
  • Competition (there is a large number of incubators / accelerators outside the company)
  • Finding a validated market opportunity
Contact information: 

CA Technologies Development Spain, SAU WTC Almeda Park Placa de la Pau, s/n - Building 2 - Floor 4, 08940 Cornellà de Llobregat (Barcelona) Spain, Dorica Munell  dorica.munell@ca.com

Workflow: 
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