An “accidental” entrepreneur with 33+ years of sucessfully building things – products (SaaS, IoT, & hardware), services (communications networks), and companies. A three-time co-founder with five patents (NLP and transporation safety), and three exits as well as being an early executive at Nextel leading the go-to-market strategy and product management.
As a consultant/advisor, I have supported more than 5 dozen ventures across 10 different industries. Creator of the Common-Sense Innovation Approach integrating proven best practices and process tools to maximize outcomes at the lowest possible risk.
Currently, the founding general partner of New Urbana – building enterprise co-innovation labs and new ventures to improve the design, construction, operation, and management of digital and critical infrastructure for enterprises, utilities, public-private-partnerships, infrastructure operators, and public institutions.
The importance of co-innovation for Smart City Success
Continuous disruptive forces are creating financial competitive, business and regulatory risks. But billions of “innovation” dollars dissipate through ineffective enterprise innovation.
It’s obvious that enterprise innovation is increasingly challenging. Yet, organizations must continuously innovate, or face potentially disastrous consequences.
A simple Google search on “IoT and Digital Transformation failure rates” should be a wake-up call. It doesn’t really matter what numbers you believe – failure rates range between 50% or 75% with a recent Microsoft Study suggesting that 30% fail just in the proof of concept phase.
But this is not new news!
Enterprises play a terrible game of innovation whack-a-mole because they are hampered by business unit P&L pressures, inflexible business models, cultural overhead and lack of skilled personnel.
Besides being disrupted, the inability to effectively innovate has other near term consequences. Many enterprises continue to lose key employees (and intellectual capital) because they do not faster intrapreneurial or entrepreneurial opportunities. For too often, companies effectively waste significant portions of their R&D and then end-up over-paying for ventures created by ex-employees – paying a real premium for lost talent.
The session will cover how new co-innovation approaches can provide the people, processes and technology to support cost and time effective commercialization, hardening, and in-market delivery of novel solutions and ventures. Enabling enterprises to maximize the value of their IP and domain expertise while also achieving economic, environmental and societal value.