Innovate like a startup, scale like an enterprise
Incumbents need an innovation process that is capable of delivering solutions that fit individual requirements and focuses on data- driven business models—the key value driver in the industry. We help companies to navigate in their competitive industry with our Garage-Factory Innovation approach. It provides a framework for the development and operations of innovation in various industries.
The first part of process development for a digital product takes place in the ‘Garage’ - brainstorming, conception, refinement, and market-testing a respective Minimal Viable Product. The Garage phase is characterised by open collaboration between our corporate clients and digital partners. Co-creation and co-location are the key elements here. In the second phase of the innovation cycle, the ‘Factory’, the product is scaled following the first market launch. With the increasing scope, the original 'Garage' team grows and splits into several sub-teams that share responsibility for the new digital product.
Ideation & Innovation
In this phase we look at potential new business to map out the assets and capabilities at hand. Mixing these insights with trends and “hot topics” of the industry will lead to generating a broad set of ideas as a base layer. User research, expert interviews, and workshops then help to validate, sharpen, combine, and prioritize items within the idea pool.
Business Modeling
The Business Modeling Phase entails the optimization and further development of the most promising set of ideas. One starts by creating assumptions, hypotheses in platform design speak, and tests them on different levels with relevant stakeholders. Feedback can be gained via interviews while illustrating the idea with prototypes of differing detail. Based on these insights a business model draft is created.
MVP
MVPs can be assets of various forms, generally software solutions, such as a website, app or interface. The objective of the MVP phase is to establish a fully functional system in which all relevant interactions between business agents are represented. Further iterations based on continuous user testing lead to refinement and validation of the product’s features.
Commercialization
The purpose of the Commercialization phase is to ensure the embedding of the business model into current operations of a company and its partners. The shared governance model of the first phases thus is complemented by a budgeting plan and target agreement. The Go-to-market is further supported by a marketing push and the establishment of a CRM system.
