innovation.net

Pepsico10 Innovation Challenge

I've been highlighting recently how open innovation and venture capital are (and need to be) on a path of convergence.  Here's another twist on the trend from Pepsi.  The Pepsico10 Challenge is a partnership between Pepsi, Highland Capital Partners and Mashable.  Its aim is is to identify, select and incubate 10 promising technology startups by connecting then directly with Pepsi brand teams for pilot projects. 

It's a great example of corporate open innovation moving beyond the basic blocking and tackling of technology search and embracing OI across multiple functions (marketing in this case) and a focus on relationships (by directly mentoring/coaching) and not just 'transactions'.

Philips Open Labsis another, more well known, example of this corporate/innovator collaboration happening via an incubator model.  Look for more of it.  If you're a corporate innovation leader, think about simple ways that you can structure events and interactions to collaborate face to face with innovators whom matter to your categories.

Nokia's Living "Open Innovation" Laboratory

Nokia has a very interesting corporate venturing approach for finding innovation. They've moved beyond "not invented here" and are embracing "let's find the best ideas where ever they are". Nokia Venturing Organization is focused on corporate venturing activities that include identifying and developing new businesses, or as they put it "the renewal of Nokia". Nokia Venture Partners invests exclusively in mobile and I/P related start-up businesses. They have a very interesting third group called Innovent, that directly supports and nurtures nascent innovators with the hope of growing future opportunities for Nokia.

Another major company creates new ventures spinoff

Sharp Corp., a $20 billion global electronics company headquartered in Japan has announced the formation of Sharp Technology Ventures "From the Sharp Laboratories headquarters in Camas, Wash., Sharp Technology Ventures will pursue business development opportunities, including joint development, licensing and spinouts, for select Sharp technologies".

Yet another example of how companies are attempting to leverage their I/P portfolios and create mechanisms for open innovation. This group will focus on both licensing out Sharp technologies, but also on creating venture opportunities in which Sharp may participate.

Look for more of this trend.

Corporate Venturing: A Growing Trend?

Corporate Venturing is not a new phenomenon... it's been around for decades. But there's a growing number of large companies creating business development organizations aimed at leveraging their I/P portfolio through external licensing and/or partnership. Some are setting up groups to scour the globe for external innovators who may be able to bring new ideas and future potential sources of growth to these companies. Henry Chesbrough, in his book Open Innovation provided many examples of this trend, with a particular focus on Lucent and Intel. Today, there are many other examples, including Philips Medical, Kimberly Clark, P&G, Delphi, to name a few. Not every company can or should set up their own new ventures group... but they should be focused on moving beyond "not invented here" to "finding the best ideas and technologies where ever they are".