kmme - williams
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DavidWilliamsAustralianSocietyofKnowledgeManagement
UniversityofCanberraPresenta�ontoKMMiddleEast
March2016
Innova�onHubs–FadorFantas�c!Ge�ngvalueformoneyoutofyourR&Dinvestment
AbstractA fall in the price of oil, gas, iron ore and other commodi�es hasdecimated the GDP of Australia. Major LNG projects have recentlybeenputonholdandanumberofminesandprocessingplantshaveclosed.The Australian Government is now looking towards new ideas ininnova�on and science to grow services in the ICT and engineeringsectors to replace the income previously obtain from the mineralsindustry.Theemphasisisonstart-upstos�mulategrowththroughinnova�on,butthis isaveryhighriskac�vitywithmoststart-upsfailingwithin5years.Cri�csclaim that innova�onprogramsshould requirea robustbusiness case, risk analyses and measures to indicate success.Measuring thereturnon investment for intangibleprogrammessuchas innova�onareextremelychallengingandopentosubjec�vityandinterpreta�on.Keywords:Innova�on,socialcapital,knowledgemanagement,intellectualcapital,future,networks,learning.
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Typesofhubs Innova�onStrategies ReturnonInvestment Impactontheorganisa�ons
Scope
Innova�on1. Theamalgama�onoftwoseparatestepsof
Crea�vityandImplementa�on(Tushman&O’Rielly)2. Thesuccessfulexploita�onofnewideas(Deptof
TradeandIndustry,UK).3. AQuantumimprovementfortheorganisa�on(Peter
Drucker,1985)4. Issignificantposi�vechange(Sco�Berkun,2013)Tobeaninnova�onmeansnotonlythecrea�onofanidea,butthesuccessfuldeliveryittotheworldasaproductthatmakesdifference.
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Whydowes�llinvestinhigh-riskICTstart-ups?
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Start-ups 90%ofstartupsfailwithin5years
Forbes2015 Causes
– Incompetence– UnbalancedExperienceor– LackofManagerialExperience
h�p://www.sta�s�cbrain.com/startup-failure-by-industry/
Innova�onHubsAphysicalorvirtualfacilitythat: buildscollabora�vecommuni�eswithentrepreneurialindividualsatthecentre. a�ractsdiversememberswithheterogeneousknowledge facilitatescrea�vityandcollabora�oninaphysicaland/orvirtualspace,and localizesglobalentrepreneurialculture
Toivonen,T.andN.Friederici(2015)
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Innova�onHub
CaseStudy-Inspire INSPIREisaninnova�onhubandnetworkfornewapproachestolearning,communica�onandcollabora�on Itappliesdesignthinkingandlearningdesignprinciplesforeduca�ontoworkwith:– Principals,teachersandstudents– Learningdesigners– Governmentandcommunityorganisa�ons
INSPIREisalearningcommons,aplacetoimagine,experimentanddesignnewwaysofworkingandlearningdigitally.
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CaseStudy–RioTinto
Cri�cism
Generallydonotengagewithscien�sts Createsdivision Dissuadesthemajorityofworkersfrompar�cipa�ng Createsfightsforfunding Requirespor�oliomanagement Detractsfromcorebusiness
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Incubators Forwould-beentrepreneursandexis�ngandexternalSubjectMa�erExperts Providesfacili�esandexper�setoaddresstheirneeds,and developtheirbusinessideas,andtransformthemintosustainablereali�es.
CaseStudy
MaRSToronto,Canada Bringstogethereducators,researchers,socialscien�sts,entrepreneursandbusinessexpertsunderoneroof. Foundedbycivicleaders,withamissionthatisequalpartspublicandprivate Anentrepreneurialventuredesignedtobridgethegapbetweenwhatpeopleneedandwhatgovernmentscanprovide.
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Accelerators
Aresimilartoanincubatorbuto�entakeanequityinexternallydevelopedideasinreturnforprovidingresources,support,smallamountsofcapitalandmentorship.
CaseStudyGRIFFINAcceleratorAgroupofseasonedentrepreneurswhoinvestin,host,guideandpartnerwiththefoundersofselectedinnova�vestart-ups.3monthintensiveprogramgetsstart-upsmovingfastandachievingini�albusinesssuccess.
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Organisa�onalSuccess Longtermsuccessrequiresstreamsofinnova�ons Needtocreateambidextrousorganisa�ons Celebratestabilityandexperimenta�on Supportrisktaking Toleratemistakes Recognise/rewarda�empts
TushmanandO’Reilly
SixLessonsforCorpora�onsbuildinginternalInnova�onAccelerators
1. Buildcomprehensivesocialnetworks,internallyandexternally
AlasdairTro�er(2013)
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SixLessonsforCorpora�ons
"Innova�onhasnothingtodowithhowmanyR&Ddollarsyouhave.WhenApplecameupwiththeMac,IBMwasspendingatleast100�mesmoreonR&D.It'snotaboutmoney.It'saboutthepeopleyouhave,howyou'reled,andhowmuchyougetit.“SteveJobs1998
2.Donotthrowexcessivecapitalatearlystages
SixLessonsforCorpora�ons
3.Fundingandpoten�alshouldbebasedontenacityandcrea�vityoftheteamandtheiden�fica�onofasignificantunsolvedproblem,whichifsolved,wouldcreaterealvalue.
AlasdairTro�er(2013)
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SixLessonsforCorpora�ons
4.Developstandardprac�cesforentrepreneurialmethodology
AlasdairTro�er(2013)
Definetheproblem/opportunity
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SixLessonsforCorpora�ons
5.createanetworkofmentorsandchampionstosupporttheirentrepreneurs
AlasdairTro�er(2013)
SixLessonsforCorpora�ons6.Focusonspecificbusinessfunc�onsorexper�seincertainareassuchasapar�culartechnologyoranindustryver�cal.
AlasdairTro�er(2013)
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Issuestobeaddressed
Howisfundingprovided?– bywhom?– howmuch?– Howlong?– Priority?
WhocontrolstheIP? Whatisthestructureofthelegalen�tycreatedforthebusiness? Whatliabili�esarecreated?
Uncertainty
Highvelocity,orhighuncertaintyenvironmentsrequiresimplerou�nes,andadependenceonpeopleoverprocess
(EisenhardtandMar�n,2000)
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Diversity
Wecan'tsolveproblemsbyusingthesamekindofthinkingweusedwhenwecreatedthem.AlbertEinstein
ReferencesandReading h�ps://ia.acs.org.au/tag/innova�on h�ps://hbr.org/search?term=innova�on+hubs Leifer,R.,O'Connor,G.C.,&Rice,M.(2001).Implemen�ngradicalinnova�oninmaturefirms:Theroleofhubs.
TheAcademyofManagementExecu�ve,15(3),102-113. Knight,J.(2011).Educa�onhubs:Afad,abrand,aninnova�on?.JournalofStudiesinInterna�onalEduca�on,
15(3),221-240. Lange,A.,Handler,D.,&Vila,J.(2010).Next-Genera�onClustersCrea�ngInnova�onHubsToBoostEconomic
Growth.CiscoInternetBusinessSolu�onsGroup. Boardman,C.,&Ponomariov,B.(2011).Apreliminaryassessmentofthepoten�alfor“teamscience”inDOE
EnergyInnova�onHubsandEnergyFron�erResearchCenters.EnergyPolicy,39(6),3033-3035. DaCunha,I.V.,&Selada,C.(2009).Crea�veurbanregenera�on:thecaseofinnova�onhubs.Interna�onal
JournalofInnova�onandRegionalDevelopment,1(4),371-386. Tushman,M.L.(1997).Winningthroughinnova�on.Strategy&Leadership,25(4),14-19. Leifer,R.(2001).Implemen�ngradicalinnova�oninmaturefirms:Theroleofhubs.TheAcademyofManagement
Execu�ve(1993-2005),15(3),102-113. Sta�s�cBrainStartup(2016)BusinessFailureRateByIndustry
h�p://www.sta�s�cbrain.com/startup-failure-by-industry/ TheSteveJobsMBAUnit103:Connectyourpeople
h�p://www.wired.co.uk/magazine/archive/2011/07/steve-jobs-mba/unit-103 Eisenhardt,K.M.,&Mar�n,J.A.(2000).Dynamiccapabili�es:whatarethey?.Strategicmanagementjournal,
21(10-11),1105-1121. Crea�ngthefutureofmining[Accessed12MAR2016]
h�p://advanceqld.ini�a�ves.qld.gov.au/innovators/future-mining.aspx Tro�er,A.(2013)SixLessonsforCorpora�onsBuildingInnova�onAccelerators
h�p://www.innosight.com/innova�on-resources/strategy-innova�on/six-lessons-for-corpora�ons-building-innova�on-accelerators.cfm
Toivonen,T.andN.Friederici(2015)TimetoDefineWhata“Hub”ReallyIsh�p://ssir.org/ar�cles/entry/�me_to_define_what_a_hub_really_is#sthash.V44W3vxB.dpuf
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Workshop5:UsingSocialCapitaltoBuildCapability
Whatcanyouexpect: AninsightofmystudyonleveragingSocialCapital 2collabora�veac�vi�estoexploretechniquesandaspectsofSocialCapital Prizesforwinningteams Atakeawayoftheresults
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Ques�onsandDiscussionwillbeatthisa�ernoon’sforum
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