INNOVATION SERVICES

Enterprise innovation at the
speed of startups

Venturetec works with large enterprise and government organisations to develop innovation and corporate venturing strategies, design innovation programs, hackathons and innovation labs, and launch corporate accelerator programs.

Our team are experts in Human-Centered Design, Lean Innovation, Business Model Design
and Agile methodologies, combining global corporate, consulting, and startup experience across a range of industry sectors. Venturetec brings Lean Startup to the enterprise through our partnership with
Moves the Needle, enabling corporates to innovate like startups.

 

Innovation Services


Innovation Strategy

Innovation Diagnostic

Innovation Management

Innovation Bootcamps

Innovation Training

 

Whilst innovation is often acknowledged as being key to
an organisation's future growth, many executives struggle to define
and realise their organisation's innovation objectives


Through our research and experience working with some of the world’s most innovative organisations,
we’ve identified four Critical Success Factors that make organisation’s more adaptive, customer-centric,
innovative, and future-ready. These success factors form the basis of our service offering and our approach to transforming the way our clients create new value:

STRATEGY & LEADERSHIP  
The most innovative organisations have a clearly defined and well understood innovation strategy, as well as clear innovation leadership and supporting organisational design. 



INNOVATION ENABLERS
Top performing organisations build processes, tools and methods that enable and empower their staff to be more innovative; this includes adoption of a full-stack of innovation capabilities and methodologies such as Design Thinking, Lean Innovation and Agile.

PEOPLE & CULTURE
Company culture is a key driver of innovation, researchers have identified the building blocks of innovation that can be developed and measured to transform an organisation; mindsets & behaviours, climate, processes, resources, success metrics and company values. 
 

BALANCED & INTEGRATED INNOVATION PORTFOLIO
Future-ready organisations diversify investment across a balanced portfolio driven by an integrated strategy that guides where the organisation is prepared to play in terms of innovation asset classes and horizons.


Innovation
Strategy

 

Venturetec has pioneered a unique approach to integrating innovation portfolios

Venturetec has designed innovation and venturing strategies for enterprises across a range of industries and geographies, enabling them to define and achieve their innovation vision.

Our approach takes an enterprise-wide view of the organisation's innovation portfolio, creating strategic alignment and integration of all innovation horizons and activities (Build, Buy, Partner, Invest and Co-Develop).

Utilising the building blocks of innovation (Values, Behaviours, Climate, Resources, Processes, and Success Metrics), we design strategies that transform an organisation's culture to become more agile, customer-centric, and innovative.

We bring a unique perspective, instilling the mindsets, principles, and practices of startup entrepreneurs and venture capitalists into large enterprises.


Innovation Diagnostic

Venturetec has developed a series of diagnostic tests based on learnings & insights from global innovation leaders on how to build future-ready organisations.

Based on the data & insights from the Innovation Diagnostic tests, we develop a customised innovation roadmap that includes prioritisation of areas of improvement to uplift an organisation’s capability to successfully execute on its innovation strategy, plus recommendations on which building blocks of innovation will deliver maximum impact on the organisation’s culture.

We utilise the data and insights from the diagnostic to develop a set of recommendations for your organisation to develop a balanced innovation portfolio, build innovation capabilities and create a culture of innovation.

People & Culture

Corporate culture is a key driver of innovation; researchers have identified the 6 building blocks of innovation (and a further 18 factors) that can be measured to produce an organisation’s Innovation Quotient.

TEST: Innovation Culture Assessment
Involves applying both quantitative and qualitative methods to measure and benchmark the 6 building blocks of innovation culture: behaviours, climate, processes, resources, success and values.  Producing an Innovation Culture Score (similar to an NPS).

CAPABILITY

Top performing organisations build innovation capabilities to effectively develop and manage a balanced and integrated innovation portfolio. Additionally, they invest in educating, enabling and empowering their people to become more adaptive, customer-centric and innovative.

TEST: Capability Maturity Assessment
Analysis of the organisation’s capability to achieve its innovation objectives through detailed heatmapping and maturity assessment of the innovation capabilities across business and functional unit
s.

STRATEGY & STRUCTURE

The most innovative organisations have a clearly defined and well understood innovation strategy, as well as clear innovation leadership and supporting organisational design.
 

TEST: Enterprise Innovation Review
Mapping of the enterprise innovation model, review any existing strategy or operational plans relating to innovation, and analysis of existing innovation structures, leadership and organisational design.
 

PORTFOLIO

Future-ready organisations diversify investment across a balanced portfolio driven by an integrated strategy that guides where the organisation is prepared to play in terms of innovation asset classes and horizons.



TEST: Innovation Portfolio Audit
In-depth analysis of the organisation’s innovation portfolio; including audit of the innovation portfolio balance across innovation asset classes (build, buy, partner, invest and co-develop), as well as innovation horizons, to identify portfolio risks and opportunities to optimise resource allocation to achieve innovation objectives


INNOVATION MANAGEMENT

Venturetec are experts at operationalising innovation across the enterprise

Through our expertise in Innovation Management, we enable organisations to execute on their innovation strategies and achieve their innovation objectives.

We utilise the Innovation Management Framework to create a central platform to manage:

  • Idea Generation
  • Innovation Execution Capabilities
  • Processes, Tools & Methods
  • People & Networks

Innovation Management allows organisations to effectively coordinate their innovation initiatives and leverage resources and capabilities from across the enterprise, resulting in increased transparency, reduced waste, higher employee engagement and greater ROI potential.

We also have deep knowledge in the selection, implementation and management of several idea management systems that enable enterprises to run innovation challenges and manage idea pipelines.


MOVES THE NEEDLE: Enterprise lean innovation

Venturetec has partnered with Moves the Needle to bring Lean Startup methodologies to the enterprise

MTN was founded by Brant Cooper, the NY Times Bestselling Author of The Lean Entrepreneur, and Aaron Eden, the co-founder of Intuit’s Innovation Catalyst program.

We've amassed a global team of entrepreneurs and corporate innovators, who have launched transformation journeys at dozens of organisations, and empowered thousands of innovators to discover and create new value.

Together, we combine the principles, tools and methods of Agile, Human-Centered Design, Lean Startup, and Rapid Experimentation.

Our Lean Innovation Bootcamps are a proven and scalable method to educate, enable and empower corporates to innovate at the speed of startups.


INNOVATION TRAINING PROGRAMS

Venturetec delivers an integrated set of strategies, training programs and toolkits that educate and enable both executives & employees to become more adaptive, customer-centric and innovative

We utilise the data and insights from the Innovation Diagnostic to design a roadmap to rollout a set of innovation enablers (capabilities, processes, tools and methods).  Our innovation toolkits and playbooks leverage proven, best-practice methodologies, and are customised to integrate into the organisation’s existing operating model.

We target developing innovation capabilities across all levels of the organisation including senior management and executive levels, which are critical to the success of any innovation initiative. 

The capability development plan defines innovation roles and capability proficiency levels, which typically include:

  • Foundation-level: the minimum set of innovation skills for all staff to be customer-centric and support continuous innovation
     
  • Practitioner-level: a practical, full-stack of innovation capabilities for corporate innovators includes exploration, empathy building, problem definition, solution ideation, assumptions mapping, rapid experimentation and agile execution
     
  • Coach-level: An advanced set of skills for innovators responsible for managing the innovation process, toolkit and knowledge management within the organisation, also equips staff to provide guidance and coaching to innovation project teams
     

Innovation Training Programs

Leadership Immersion Program: A half to full-day customised workshop designed for executives to build a venture capitalist mindset, understand how to invest in a diversified innovation portfolio, make decisions based on data and insights gained through lean innovation methods, and enable and empower their teams to innovate at the speed of startups.

Foundation-level Innovation Workshop: A practical one-day workshop based on design thinking and lean innovation methods aimed at teaching corporate employees to build customer empathy, define problems to be solved and opportunities to innovate, ideate solutions.

Business Model Design Workshop: Based on the Strategyzer business model innovation toolkit, a one-day in-depth workshop designed for executive, strategy, and product teams to innovate on existing, and design new innovative business models.

Moves the Needle Lean Innovation Bootcamp: An intensive two-day bootcamp based on the tools and methods created by Lean Innovation thought leader Brant Cooper.  Focused on rapid experimentation techniques and the practical application of lean startup methods in large enterprises (at scale).

Advanced Rapid Experiment Design Bootcamp: An intensive two-day bootcamp focused on advanced experiment design techniques (MTN lean innovation bootcamp is a pre-requisite) including digital experimentation and playbook of rapid experiments. Deep-dive into understanding which experiments to run to test different assumptions and how to stack multiple experiments. 

Ongoing coaching sessions optional: We can also provide ongoing coaching sessions if required


PROJECT ACCELERATION – INNOVATE AT THE SPEED OF STARTUPS

We apply proven methods to accelerate innovation projects from concept through to commercialisation; enabling corporates to rapidly launch new value to the market.

Our Project Accelerator starts with a bootcamp specifically designed to accelerate the project, and rapidly upskill the client project team.

During the bootcamp the team will progress from exploration and discovery, into customer development, detailed business model design, assumptions mapping and rapid experimentation.

In subsequent innovation sprints the project team will be guided by a Lean Innovation Coach through rapid experimentation to validate customer desirability, technical feasibility and commercial viability;

The innovation sprints are designed to rapidly and seamlessly transition from concept design, to validation and business case development, to execution at a pace suited to each project.

Our coaches enable teams to learn and apply the 3 E’s of Lean Innovation; exploring, researching and building customer Empathy, designing and running rapid Experiments to test risky assumptions, and using real Evidence to make product and business model design decisions.

In addition to project outcomes, the client team learns the methodology through practical application and are equipped with a lean innovation toolkit that includes customer discovery tools, innovation sprint framework, rapid experiment tools, digital Kanban boards, validation backlog, and others.

Our Project Accelerator is a flexible engagement focused on real project outcomes, the bootcamp and innovation sprints are designed to accelerate progress through the following phases of a project:

 

  • Exploration & Discovery
  • Ideation & Concept Development
  • Business Model Design
  • Concept & Market Validation
  • Minimum Viable Product Design
  • Business Case Evaluation & Prioritisation
  • Agile Development

EXAMPLE PROJECT ACCELERATOR ENGAGEMENT

A standard Project Accelerator engagement is 12 weeks beginning with a Lean Innovation Bootcamp, then transitioning into a cadence of innovation sprints.

The accelerator is designed for client project teams of 3-6 people supported by tech teams, subject matter experts and other functional support staff as required.

A Lean Innovation Coach will guide the project team in applying the methodology through the innovation sprints and importantly, guiding key decision-making (iterate, persevere, pivot, kill-off) based on validated learnings.

An Innovation Analyst will maintain the project validation backlog, track experiment metrics and support the project team in applying the toolkit throughout the sprints.

The engagement is flexible to end sooner in the event the project concept is invalidated, or extended in the event additional innovation sprints are required.


PROJECT RESOURCING
– HIRE OUR EXPERT INNOVATORS

VENTURETEC CONSULTANTS HAVE EXPERIENCE WORKING ACROSS STRATEGY, BUSINESS TRANSFORMATIONS, DIGITAL & EMERGING TECH, PRODUCT DEVELOPMENT, SERVICE DESIGN & TECHNOLOGY COMMERCIALISATION PROJECTS.

In addition to delivering project outcomes, our consultants uplift the capabilities of our client’s project teams; transferring knowledge, exposing them to new tools & methods, & injecting an Entrepreneurial Spirit into the organisation’s culture.
Our people are scouted from the top universities, business schools, corporates, consulting firms & startups; they undergo rigorous selection, intensive training, & ongoing professional development that includes;

  • Consulting skills assessment including case study interview
  • Interview to ensure cultural fit & alignment with Venturetec’s core values 
  • Introductory training in Venturetec’s innovation system & toolkit
  • Practitioner-level training in Agile, Design Thinking & Lean Innovation 
  • Assignment with a startup to develop an entrepreneurial mindset
  • Advanced-level training & certification in relevant methodologies
  • Ongoing coaching & mentoring

Venturetec’s innovation project resources:

Lean Innovation Coach:
(Lean-Agile Coach > Embedded Trainer > Project Advisor)
Coaching an innovation project team to learn and apply the lean innovation methodology and overcome project challenges; similar to an Agile Coach. Guides the team through rigorous experiment design and evidence-based decision-making. Coaches are experts in Lean Innovation with extensive startup incubation experience; typically Principal or Consulting Director-level. Coaches are assigned 20-50% to a project team and may coach a portfolio of up to 3 projects.

Project/Startup Lead:
(Agile Project Manager > Product Manager > ScrumMaster)
More Startup Co-Founder than traditional Project Manager, the Lead ‘co-owns’ the problem or opportunity (along with the Client) that the team is working on and drives the concept from discovery through execution combining elements of both Product Owner and Scrum Master roles. Responsible for prioritising the validation backlog, managing innovation sprints and driving team velocity. Senior Associate or Principal-level, assigned to a project full-time.

Business Designer:
(Agile Business Analyst > Customer Experience Designer > Strategy Analyst)
Drawing on a range of methodologies and business disciplines, they are experienced lean innovation practitioners that play a critical role in customer discovery, business model design and rapid experiment design. Our Business Designers know how to identify, prioritise and test (value, growth and execution), assumptions and have typically applied these techniques in both corporates and startups. Senior Associate-level, assigned to a project full-time.

Innovation Analyst: Business analyst/project coordinator role, they are ‘apprentice’ designers that support the project team by maintaining the validation backlog, tracking experiments, creating user stories, digital business model canvas’s and Kanban boards, tracking sprint velocity, assisting to develop low fidelity prototypes and experiments, capturing key data and creating the post-engagement storyboard. Associate-level, can be 50-100% assigned to a project, may support up to 2 projects.

EXAMPLE PROJECT TEAM ENGAGEMENT:

Working with the client-side problem/opportunity owner and other internal resources, Venturetec will lead and co-resource the innovation project team through innovation sprints to accelerate the project.

The project team will progress through Customer Discovery, Product Design and Business Model Design, applying Lean Innovation methods and engaging directly with customers to (in)validate customer desirability, technical feasibility and commercial viability; seamlessly transitioning from design to validation to execution.

Each sprint consists of sprint plan, run and close phases, utilising our lean innovation methodology and toolkit to cross-training client team members. The client will have full access to all tools and artifacts created during the sprints.


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