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How to select innovation projects
for an internal accelerator
Corporate Incubation & Acceleration Summit
1. & 2. December 2015 hub:raum Berlin
Admission
Selection
Version 1-4 | Page© 2015 itheca Group | Confidential 2
Differentiating accelerator formats
Excubator
Incubator
Exit
Graduation/ demo days
pre-seed/ ideation seed early stage later stage
3 to 6 months cohort-based boot camp
Accelerator program
Internal Accelerator
(Corporate) Accelerator
Avoid early startup death†
Version 1-4 | Page© 2015 itheca Group | Confidential 3
Common aims of accelerators
> Addresses outside entrepreneurs
> Acceleration as a business » Equity in return for funding & support
> Exploit potential for innovation – typically with an industry focus
> Create growth and investment opportunities for corporates
> Addresses inside intrapreneurs
> Innovate strategically » staged funding & support
> Exploit potential for (disruptive) innovation outside R&D
> Create long term integration/ growth or spin-off opportunities
Internal
Accelerator
Corporate
Accelerator
> Addresses outside entrepreneurs
> Acceleration as a business » Equity in return for funding & support
> Create investment opportunities for business angels and VCs
Independent
Accelerator
Version 1-4 | Page© 2015 itheca Group | Confidential 4
Innovation projects in the context of
Igor Ansoff's matrixM
ark
et
Product
MARKET DEVELOPMENT DIVERSIFICATION
PRODUCT DEVELOPMENTMARKET PENETRATION
NewExisting
Ne
wE
xis
tin
g
increasing uncertainty
incre
asi
ng u
ncert
ain
ty
Source: Clayton M. Christensen, Michael E. Raynor - The Innovator's Solution - 2003 Version 1-4 | Page© 2015 itheca Group | Confidential 5
Innovation projects in the context of
Clayton Christensen's disruption theory
time
measu
re o
f p
erf
orm
an
ce sustaining strategy
low-end disruption
new-market disruption
time
measu
re o
f p
erf
orm
an
ce
non-consumption
different measure
of performance
Version 1-4 | Page© 2015 itheca Group | Confidential 6
Typical admission and selection process blueprint
> Case review
(prerequisites)
> Interview of
intrapreneur team
Admission SelectionPreparation
> Inspiration
> Introduction to Lean
Innovation
> Sponsor introduction
> Innovation coaching
> Pitching
> Case scoring
> Portfolio review
> Funding
Ramp-up
> Team onboarding
> Office space, labs
> Coaches, advisors
> Corporate concierge
NominationInnovation case Kick-off
Source: Steve Blank - The Four Steps to the Epiphany - 2003, 2013 / The Startup Owner's Manual – 2012; Ash Maurya – Running Lean - 2012 Version 1-4 | Page© 2015 itheca Group | Confidential 7
Examples of acceleration prerequisites
in the context of Running Lean & Customer Development
reve
nue
Problem worth
solving
Product/
market fit
Scale: profitable, scalable
business model
Scaleup » executeStartup » search
Customer discoveryCustomer
validation
Customer
creation
Company
building
Pivot
Problem/
solution fit
Do we offer a widely
accepted solution?
Do we address an
ubiquitous pain?
Version 1-4 | Page© 2015 itheca Group | Confidential 8
Selection critera
for an internal accelerator's innovation projects
> Type of innovation: efficiency, sustaining, disruptive
> Customer segments aka «job to be done»
> Markets (proximity, access)
> Value proposition, offering
> Technologies leveraged
Strategic fit (innovation goals, scope)
> Product (ubiquitous pws, feasibility, scalability)
> Customer (path to customer, out-/ inbound channels)
> Market (acceptable solution, pricing, alternatives)
> Team (experience, attitude, commitment, skills, lead)
Risk (uncertainty)
> User value
> Market size, market potential, market saturation
> Price sensitivity, price stability
> Margin, scalability
> (Unfair) competitive advantage
Profit potential (profitability)
> estimated size of investment until p/m fit
> magnitude of capital requirements after p/m fit
Financial exposure (Size of investment)
profit potential
stra
tegic
fit
Version 1-4 | Page© 2015 itheca Group | Confidential 9
Portfolio view
of an internal accelerator's innovation projects
o Diameter – financial exposure
Color - uncertainty
7
4
3
2
1
6
5
8
L H
Version 1-4 | Page© 2015 itheca Group | Confidential 10
Corporate Startup Framework
to prepare and lead senior corporate management
Organizational Model
& Governance
Approach & Culture
FundingCorporate
Startup
Access &
Resourcing
Pascal A. MiserezSenior Partner & CEO
> itheca Group
> Badenerstrasse 21, CH-8004 Zürich
> vox +4161 385 3838 > fax +4161 383 0100
> mob +4179 3204123
> www.itheca.com > [email protected]
Version 1-4 | Page© 2015 itheca Group | Confidential 11
Contact information
