Drive your startup with Innovations

In the recent era, entrepreneurship is not only defined by how well you’re managing the things but also by what you’re creating for the society. The business world has enough Managers, all they are looking for is great innovators with super meaningful products and services that can actually redefine the way society is living.

Considering this, how well a company can contribute to the needs of innovations and creations, how a company can secure a concrete stage in this competition is defining challenge. Here is a roadmap that can give the organization a productivity boost with utmost innovative culture:

Types of innovative things you can do in your organization:

 

• Innovation Lab:

 

Creating an Innovation Lab within the typical office culture boosts the productivity and enthusiasm in the company dramatically. Innovation Lab is a group of master minds within the company building a “Techno-Managerial” team to focusing on creating “Game Changing Product/Services”.

An Innovation Lab Outpost in your company can be helpful to understand below listed points easily:

• New Product Demands & New Markets.
• Rising Technology and Application Environments.
• Getting in contact with Managers, Entrepreneurs & Startups.
• Understanding and Analysing new product/service projects.

Such Innovation Lab can frequently put efforts of the team on hunting new potentials and building revolutionary creation for the organization. Such efforts can provide its fruits either in the form of financial means or in the form of potential resources for the company.

 

• Partnership with Startups:

Partnership with startups and raising company can bring a fresh air in the company environment quickly. There are many startups in the global market with strong products with completely new approach of viewing the technology as an integral part of life instead of a medium of ease out the work. Revolutionary market of “Internet of Things (IOT)” and Artificial Intelligence applications in eCommerce retail segments are live instances for this. It should be noted here that one of the best inventions of IOT or AI is made by startups like Nara Logics and Yonomi.

It has been observed that many strong startups are looking for help and guidance from enterprises for product and fund management. Though startups have new innovative approach and potential to concur the technological challenges, they are always seeking managerial molds to shape as an Enterprise. Partnering with such startups is always in the interest of enterprises. This provides a win-win deal for both sides, where Organizations can provide the best of their managerial knowledge and experience and on the other hand startups can focus on building “out of the box” products that can acquire the markets.

 

 

• Startup Accelerators:

Seed “accelerators” also known as startup “accelerators” are fixed-term, cohort-based programs, that include mentorship and educational components and culminate in a public pitch event or demo day.

Getting in touch with Startup Accelerators provides the organization a broad platform for reaching out to startup owners/founders, Venture Capitalists, Angel Investors and other enterprises searching for certain business solutions. Additionally, meetups with industry players and “like minded” people acts as an analytical and motivational fuel for productivity. Impressive results of Accelerator Events can be found in the case study of “Accelerator Business City (ABC)” located at Slovenia, EU.

The main effectiveness of accelerators resides in a “win-win” deals for the organization, where Innovation Lab Team can reach out new markets and investors for upcoming innovative products of the company, with the help of accelerators and on the other hand the organization can get in touch with new startups and entrepreneurs with game changing flagship products.

• Venture Funds :

Venture capital (VC) is money that is provided to seed early-stage, emerging growth companies. Venture capital funds invest in companies in exchange for equity in the companies they invest in, which usually have a novel technology or business model in high technology industries, such as biotechnology and IT.

Once the organization has strong Innovation Lab, Accelerators in touch and good Startups in affiliation, a strong VC as financial backbone is must to drive the service/product innovation successfully to the market. The second best advantage of Accelerator Events is the direct contacts with VCs and Angel Investors.

Finally, the concussion point of this discussion is – An Entrepreneur must be a peoples’ person and a great communicator while conveying business aspirations. A vision and mission can never be fulfilled without a medium of expressions.

 

Have a Happy Business!! 🙂