We are happy to bring you some of the key points and insights from Wim Soem’s talk at the Optimizing Innovation Conference, which was held October 21-22, 2009 in New York City.
Wim Soens, Managing Partner at Cognistreamer spoke about their Innovation Portal 3.0 software and a bit about Enterprise 2.0 Innovation. From Wim’s perspective, 2005 marked a switch from the majority of people reading content to the majority creating content. People are now generating, sharing, remixing, and filtering activities are all coming together to create the collaborative effort that represents Web 2.0.
So, what are the flaws of the widely used innovation funnels with stage gates?
- First – Quality of the Ideas
- Survey response – 75% of people are not happy with the quality of their ideas
- Second – Screening Bottleneck
- About 80% of ideas killed after first screening and only about 1% come out of the end of the funnel)
- Three – Assessment Challenge (picking the winners)
- Especially as you expand ideation to open innovation
- During the innovation funnel you attempt to reduce the chance of failure, but at the same time there is an increasing cost of failure as an idea moves through the funnel
You might want to check out the mymachine project in Belgium to connect universities with technical high schools and children.
“The next wave of innovation by enterprises will depend on the ability to connect people together more effectively, especially at the edge of enterprises, and provide them with tools to support collaborative creation.” — John Hagel
As companies evolve, some of the challenges of the Enterprise 2.0 ecosystem that they will face include:
- Community Activation
- Capability and Usability
- Privacy & IP Protection
- Process Integration
Keep in mind that the front end of innovation is not the same as new product development, yet we apply these same sequential processes to this uncertain part of innovation. The fuzzy front-end of innovation ultimately requires more of a Management 2.0 approach.
Finally, as we enter this Enterprise 2.0 and Web 2.0 world, it will be crucial to find the right balance between chaos and structure.