How Should You Plan to Set Up an Innovation Ecosystem?

1. How Should You Plan to Set Up an Innovation Ecosystem? When it comes to innovation, the focus mainly remains on individuals. Consider the endless fascination of an innovative leaderSteve Jobs or humans’; innate tendency to discover a single inventor. In the business world, people generally identify good nurture and innovators with the ability to generate creative and unique practical solutions to various problems. Thus, there is less focus on the type of structures promoting a culture of innovation. Many big organizations innovate in their own way. Generally, they have internal experts who generate ideas or external consultants who have a group of people for generating ideas. At this point, existing business units within the company takes up the task of taking a new idea ahead until they are ready to be brought into the market. If your organization relies greatly on individual innovations, then it is better to consider creating your own ecosystem where creative problem-solving experts form a network of skilled individuals who

2. can bring up new ideas to the market. If you want to create an ecosystem, then here’s how you can plan for it. 1. Form a team of right people The innovation network you are forming must include workers from various levels. Firstly, it must have upper-level management that can offer necessary funds for the project. Also there must be leaders who have been successful in the past, external consultants and technical experts. When all of these people work together, then you surely are going to receive desirable results. 2. Cultivate the network The group under the innovation ecosystem much have enough chances to get together in productive ways. Therefore, you must hold regular meetings, talks and events where the entire organization’s innovators come together and share their experience with each other. Further, make sure that your lead innovators have a regular meeting with various groups within the company who are working on innovative projects. This will help them stay connected with the groups facing similar problems. 3. Educate others To have the best innovation practice throughout the organization, it is important to create those ideas before the project actually begins. The innovation network you have must implement a company-wide education program about the process of developing a good idea and transforming ideas into actionable plans which bring them to the market. The lessons must be given to both the company’s future leaders and rank and file, who will have a big part in the success of an innovation. Conclusion An innovation ecosystem’s motive is to ensure the innovation network of a company takes responsibility for creating a structure that encourages innovation but not governs the outcomes. The advantage of having an ecosystem Is that the groups involved in the innovation project can easily reach out to each other and help solve problems. Follow up the plan structure nicely to develop an innovation ecosystem within your organization for better and qualified results.