lean enterprise: how big companies can innovate like startups
TRANSCRIPT
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LEAN ENTERPRISE HOW BIG COMPANIES CAN INNOVATE LIKE STARTUPS
ADRIAN TAN@[email protected]/in/iadriantan
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Introduction
● Entrepreneur-in-Residence● 5 Years in Technology● 6 Years in Education● Founded 2 startups, 1 failed.● Coach to hundreds of startups in Asia● Founder Institute/ JFDI Alumni
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About You
STARTUPS
CORPORATE OTHERS
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Outline● Big companies are disrupted by startups
● Startups are innovating fast using agile methodologies
● Southeast Asia has opportunities and yet interesting challenges
● How big companies can learn from startups
● Different models of innovation in Singapore
● How a corporate individual can innovate in a big company
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DISRUPTION
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DISRUPTION
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Which one of these companies are worth $70 Billion?
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VS
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WHY ARE STARTUPS IMPORTANT?
Responsible for all NET job Creation in the U.S.http://www.kauffman.org/what-we-do/resources/entrepreneurship-policy-digest/the-importance-of-young-firms-for-economic-growth
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Where are they now?
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Startup Tools
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Startup Methodologies
LEAN STARTUP
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Big Company
CentralizedResearch & Development
WATERFALL DEVELOPMENT
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Southeast AsiaOpportunities & Challenges
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Source: OECD
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Disruption
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How can we innovate new products and services for a diverse Southeast
Asia?
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How Big Companies Innovate
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Research Centre
Business Unit A
Business Unit B
Business Unit C
Which Business Unit? Who is the customer?
New Product/Service already defined through
traditional BU
Skunkworks styleAway from Customer
Lack of Feedback
FormsSteering
Committee
1 year 1 year
20 signatures later
Sunk Cost BiasCannot fire team
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How Big Companies can Innovate like Startups
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INNOVATION
PEOPLE PROCESS PRODUCT
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Startups Big CompaniesFresh ideasRejuvenate corporate cultureScout and Test new technologies
COLLABORATE
Gain market knowledgeDiscover industry paint pointsEconomies of ScaleGain distribution
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Startups Big CompaniesWhy should I work with those inexperienced young kids in t-shirts?
They don’t even make money?
How do they know the decision they are making is correct?
THERE ARE MISTAKES ON THEIR POWERPOINT SLIDES!!!!
COLLABORATE
Why will I want to help the big fat ugly enemy?
Why should they help me?
They are so slow in making decisions!
They are spending too much time on powerpoint slides!
CHALLENGES
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PEOPLE
PROCESS
PRODUCT
TYPES OF COMPANIES
Awareness of Disruption
E.g. TELCOS CAR COMPANIESMEDIA BANKS
*Disclaimer: Adrian’s Working Slide
Hackathons
Innovation Labs
Corporate Accelerator
Corporate Venturing (Investment)
Acqui-Hiring
Space Sharing with Startups
Partnerships
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Source: Nesta.org.uk ,ff.co, StartupEuropePartnership.eu
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Corporate InnovationExamples
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● Media Investment arm● Partners for B2C growth
companies, especially in the consumer goods,
● Offers TV advertising as platform
● 25K EUR Funding● 500K EUR of
media volume on TV
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Corporate Innovation inSingapore
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BANKS
Buying a bank such as Standard Chartered “is fighting yesterday’s battle.”
“I think the battleground right now is Alibaba and digital,” he said.
DBS CEO, Piyush Gupta
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Banks
Hackathons
Innovation Labs
Accelerator Programs
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And Others...
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Innovate as a Corporate Individual
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INNOVATION
PEOPLE PROCESS PRODUCT
● Creating Buy-In ○ Senior
management○ Middle Managers
● Emotional appeal beyond powerpoint slides
○ Accelerator visits, Start-up events
● Minimal Viable Process○ Getting small wins
● Intrapreneurship project● Mentoring a startup● External Acceleration