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LEAN ENTERPRISE HOW BIG COMPANIES CAN INNOVATE LIKE STARTUPS
ADRIAN TAN@[email protected]/in/iadriantan
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
About You
STARTUPS
CORPORATE OTHERS
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
DISRUPTION
DISRUPTION
Which one of these companies are worth $70 Billion?
VS
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
Where are they now?
Startup Tools
Startup Methodologies
LEAN STARTUP
Big Company
CentralizedResearch & Development
WATERFALL DEVELOPMENT
Southeast AsiaOpportunities & Challenges
Source: OECD
Disruption
How can we innovate new products and services for a diverse Southeast
Asia?
How Big Companies Innovate
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
How Big Companies can Innovate like Startups
INNOVATION
PEOPLE PROCESS PRODUCT
Startups Big CompaniesFresh ideasRejuvenate corporate cultureScout and Test new technologies
COLLABORATE
Gain market knowledgeDiscover industry paint pointsEconomies of ScaleGain distribution
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
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
Source: Nesta.org.uk ,ff.co, StartupEuropePartnership.eu
Corporate InnovationExamples
● 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
Corporate Innovation inSingapore
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
Banks
Hackathons
Innovation Labs
Accelerator Programs
And Others...
Innovate as a Corporate Individual
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
