Alex was asked to build an “innovation capability” for her business.  She’d been at the company sixteen years and was previously at a startup that got acquired.  MBA.  Undergrad from Harvard.  Alex was bright, fun to work with and well respected.  So… she brainstormed with other company “innovators.”  Got their advice.  Chatted with Ivy League professors.  Hired consultants.  Convinced key coworkers to join her team.  Pulling it all together, they produced a “pipeline funnel” with “stage gates” and a “milestone-based funding” process.  They called the group BID (Breakthrough Innovation Division).

BID solicited ideas from around the company, industry visionaries, consultants and did vast ethnographic research to gather user insights.  They went to TED.  They took an executive education seminar at the Harvard Business School.  They read Fast Company, Entrepreneur, Wired, Inc., Good to Great, The Innovator’s Dilemma, Innovation and Entrepreneurship, Crossing the Chasm, How to Get Ideas, The Art of Innovation, Blueprint to a Billion, The Art of the Start, Ten Rules for Strategic Innovators and more.

The goal was to find big new ideas with “billion dollar potential,” give them resources and shelter from mainstream “core” company processes and then “graduate” the best opportunities into business units once they’d proven themselves in the marketplace and were on track to success.  This was going to be awesome! [click to continue…]

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