The Innovation Matrix

Simplify and structure your innovation management and strategy: through three key steps you build an Innovation and IP Strategy.

The present-day business world is competitive, complex, and interconnected. Organizations must innovate to survive. Innovation is an expensive exercise and needs smart people to work on it, those that are not always within your organization. To succeed, many now co-create with others outside their own organization. In innovating jointly, organizations struggle with questions on how to capitalize on bright ideas, how to capture value in a co-created innovation, and how to manage the innovation process itself.

The Innovation Matrix simplifies and structures innovation management and strategy. Intellectual property, which is at the core of every innovation, is urged to be used as a tool in defining a strategy and managing the innovation. Through three key steps (THINK-STRATEGIZE-ACT), you build an Innovation and IP Strategy.

Under Think, six building blocks are identified to help you judge what your organization is, has, or needs for its innovation ambitions. Analyzing these building blocks will enable to construct your innovation and IP strategy.

In Strategize, an Innovation and IP Matrix presents possible strategies that can be adopted by an organization for an innovation project or a particular product or service. It helps in finding an approach towards innovation partners, capturing the value of innovation and protecting the IP.

In Act, three key factors that will help implement an innovation and IP strategy are discussed: working your ecosystem, clever contracting and the right innovation attitude. Additionally, this chapter has case studies for practice and some tools that can be used for your own projects and cases.