what are we learning about innovation exchangev2
DESCRIPTION
TRANSCRIPT
What are we learning about…
Innovation Exchange
What’s the problem?
In the public sector, people don’t feel allowed to innovate. In the third sector,
they don’t feel supported to innovate.
A ‘thousand flowers’ are free to bloom and decision-making is radically distributed.
However, that creates barriers to sustaining and scaling innovation.
It’s hard to scale and sustain third sector innovation
Too few third sector innovations change the world
Size
Age
That failure to change the world is largely a systemic failure
Someone in the third sector has an idea
They write a letter to the Minister
The Minister gives the letter to a civil
servant
The civil servant writes a letter of congratulation
There’s no market for third sector innovation
Demand
Supply
As a result, innovators are disconnected from potential collaborators and supporters
Commissioners and investors
Innovators in the third sector
What’s the solution?
We need to connect innovators and potential supporters
Public service commissioners
Social investors
Third sector innovators
The Exchange first works to identify opportunities for innovation
Great third sector innovations
Commissioners’ and investors’ needs
Advice and support
with individual budgets
Support to overcome
social isolation
It then helps people to connect around those opportunities, build alliances and
develop their work
It seeks to add value by focusing on incentives to develop and grow
Focus on new ideas:
• Immersion
• Stimulus
• Horizon-scanning
Upstream incentives
Downstream incentives
Focus on scaling up:
• Brokerage
• Development
• Growth
Innovation Exchange
What are we learning?
We added a fourth diamond to take account of the market context
We are doing more sourcing of innovation than stimulating
Identifying Source & sense-check
Incubating Accelerating
Research
Engage stakeholders
Seek innovators
Scan the horizon
Identify demand and supply
Market test
Broker connections
Enable feedback
We are trying some new approaches
• Use of open online tools
• Importance of video
• Insight Journeys
And we are encountering a set of challenges
• Open innovation vs secretive match-making
• wisdom of crowds vs expert judgement
• Pitching mentality vs co-creation
• Enabling local connections vs focusing on national excellence
What do you think?
And…
• How does this connect to your work?
• What advice do you have for us?