InnoQuest – June 25, 2014

InnoQuest – June 25, 2014

The Entrepreneurs EDGE is a non-profit economic development organization which fosters growth in mid-market companies and develops leadership talent in order to positively impact the Northeast Ohio economy.

InnoQuest – February 28, 2014Time Program

8:00 Overview and Introductions

Drivers of Innovation Revisited

Small Groups – Developing Innovation Teams

NineSigma (Paul Stupay) – Open Innovation

** Break **

Small Groups – How to Apply Open Innovation

A Look to the Future – Applying Trends

Developing Action Steps

@11:45 Action Steps / Evaluations / Wrap Up

Internet Access at DDR

Network: DDRDataGuest

Guest account User: bnymellon

Guest account Password: NGsK0aDf ^“zero”

Program Overview• Feb. 28 Mid-Market Innovation / “Thinking Inside the Box”

Pressco Technology, SolonGuest: Amit Mayer, Systematic Innovative Thinking (SIT)

• Mar 6 (bonus) *Drew Boyd, SIT/Johnson & Johnson/Univ. of Cincinnati*Case Western Reserve University, Nord Hall. (3:00 PM)

• Apr. 30 Refreshing the Value Proposition to More Effectively Target New Customers and MarketsGrafTech International; Guest: Bush Consulting

•  Jun. 25 Open Innovation (NineSigma) + Developing Innovation Teams 3rd Frontier Funding to support mid-size companies.

• Aug. 21 Using Product Tear-down to Ideate and Accelerate InnovationMeeting at MAGNET (1768 E 25th St, Cleveland, OH 44114)Guests: Bush Consulting; Dave Heidenreich (EBO Group)

•  Oct. 21 University of Akron Research FoundationGuest: Darryl Fogal, Innovation Leader, Eaton Corporation

•  Dec. 4 Leadership and Culture

GrafTech Session Take-aways 4-30-14

Value Proposition Best Practices

• Focus categorization to the customer; consider supply chain, too.

• Can have more than one value proposition for products & divisions• Breakdown/categorize• Refresh / Re-launch value proposition activities.

GrafTech Session Take-aways 4-30-14

Value Proposition Best Practices

• List benefits & types of differentiation (technology, cost, service)

• Map competition Stay away from “sharks” when creating value propositions

GrafTech Session Take-aways 4-30-14

Technology road-mapping relationship to internal change and direction of organization.

• Evolution of a 127-year-old company

• Stage gate and software tools for innovation

• Develop the 3-stage product refinement for R&D and R&D Budgeting

• Look at markets and watch evolving opportunities

GrafTech Session Take-aways 4-30-14Amit M

Program Overview• Feb. 28 Mid-Market Innovation / “Thinking Inside the Box”

Pressco Technology, SolonGuest: Amit Mayer, Systematic Innovative Thinking (SIT)

• Mar 6 (bonus) *Drew Boyd, SIT/Johnson & Johnson/Univ. of Cincinnati*Case Western Reserve University, Nord Hall. (3:00 PM)

• Apr. 30 Refreshing the Value Proposition to More Effectively Target New Customers and MarketsGrafTech International; Guest: Bush Consulting

•  Jun. 25 Open Innovation (NineSigma) + Developing Innovation Teams 3rd Frontier Funding to support mid-size companies.

• Aug. 21 Using Product Tear-down to Ideate and Accelerate InnovationMeeting at MAGNET (1768 E 25th St, Cleveland, OH 44114)Guests: Bush Consulting; Dave Heidenreich (EBO Group)

•  Oct. 21 University of Akron Research FoundationGuest: Darryl Fogal, Innovation Leader, Eaton Corporation

•  Dec. 4 Leadership and Culture

Program Overview• Feb. 28 Mid-Market Innovation / “Thinking Inside the Box”

Pressco Technology, SolonGuest: Amit Mayer, Systematic Innovative Thinking (SIT)

• Mar 6 (bonus) *Drew Boyd, SIT/Johnson & Johnson/Univ. of Cincinnati*Case Western Reserve University, Nord Hall. (3:00 PM)

• Apr. 30 Refreshing the Value Proposition to More Effectively Target New Customers and MarketsGrafTech International; Guest: Bush Consulting

•  Jun. 25 Open Innovation (NineSigma) + Developing Innovation Teams 3rd Frontier Funding to support mid-size companies.

• Aug. 21 Using Product Tear-down to Ideate and Accelerate InnovationMeeting at MAGNET (1768 E 25th St, Cleveland, OH 44114)Guests: Bush Consulting; Dave Heidenreich (EBO Group)

•  Oct. 21 University of Akron Research FoundationGuest: Darryl Fogal, Innovation Leader, Eaton Corporation

•  Dec. 4 Leadership and Culture

Program Overview• Feb. 28 Mid-Market Innovation / “Thinking Inside the Box”

Pressco Technology, SolonGuest: Amit Mayer, Systematic Innovative Thinking (SIT)

• Mar 6 (bonus) *Drew Boyd, SIT/Johnson & Johnson/Univ. of Cincinnati*Case Western Reserve University, Nord Hall. (3:00 PM)

• Apr. 30 Refreshing the Value Proposition to More Effectively Target New Customers and MarketsGrafTech International; Guest: Bush Consulting

•  Jun. 25 Open Innovation (NineSigma) + Developing Innovation Teams 3rd Frontier Funding to support mid-size companies.

• Aug. 21 Using Product Tear-down to Ideate and Accelerate InnovationMeeting at MAGNET (1768 E 25th St, Cleveland, OH 44114)Guests: Bush Consulting; Dave Heidenreich (EBO Group)

•  Oct. 21 University of Akron Research FoundationGuest: Darryl Fogal, Innovation Leader, Eaton Corporation

•  Dec. 4 Leadership and Culture

Introductions

* Courtesy of Columbia Business School* Every two weeks a company enters or leaves S&P 500.*

Some Very Smart Companies Have Fallen Off the S&P List

Drivers of Innovation

What to Innovate?

OPPORTUNITIES• Partner

ships (customers or suppliers)

• Luck; Failure of Competitor

REGULATIONS• Enviro

nmental, Health

• Safety

TRENDS• Social• Techni

cal (or lack of!)

• Resources

Innovation Management – Three Gears

Strategy• What to

innovate?• Values• Business

Model• Branding• Drivers

Process

• Resource Procurement ($, Energy, Time)

• IP Portfolio Management

• ROI & Assessment

Culture

• Talent Recruitment, Training, Development

• Facilities• Change

Management

Developing Innovation Teams

What areas of your business can you innovate?How would you go about creating teams to address? 

What would you ask the teams to focus on?

Paul StupayChief Sales Officer

Office 216.295.4810Mobile 216.225.7955

Stupay@ninesigma.com

How would you use the Open Innovation model?

How will your company embed future insights into your own forecasting?

InnoQuest - Innovation Management Program

Next Meeting: Thursday, August 21

Using Product Tear-down to Ideate & Accelerate InnovationLooking at Patent Searches to Ideate

EDGE Fellows Summer Program

EDGE Fellows (2007 – 2014)

• 60 business ideas studied• From successful Northeast Ohio businesses• 30% of ideas generate new revenue in 2-3 yrs

EDGE Fellows Summer Program

The Entrepreneurs EDGE