Getting The Innovation Mix Correct

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Innovation Mix

The innovation mix is about managing the 3 different sources of innovation in a way to; a)  improve the innovation success rate while, b) reducing the innovation risk.  The 3 sources of innovation for the mix are:

  • Organic InnovationOrganic innovation is the innovation that results from the resources (people, time and money) from within an organization.
  • Innovation from M&AInnovation from M&A comes into the organization via some form of acquisition.  These can be entire companies/teams or the acquisition of IP (e.g. patent purchases)
  • Co-InnovationCo-innovation is the approach where you define a join effort (money, people, etc) with another organization where both would greatly benefit yet neither can do it alone.  This is NOT the same same as “joint R&D”.
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