Overcoming Idea Addiction

Overcoming Idea Addiction to Scale Your Ventures

Andrew Binns | PDMA Inspire Innovation Conference • September 19, 2023

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Conventional wisdom says that innovation starts with a winning idea. The more ideas and possibilities, the more likely one will turn into a scaled venture. The problem with the increase-the-supply-of-ideas logic is that it overlooks the organizational reality, where a high volume of ideas reduces the rate of corporate innovation success. While 80 percent of companies claim to ideate and incubate new ventures, only 16 percent of companies successfully scale them. As economic pressure intensifies and innovation budgets tighten, it's critically important to focus on the projects that produce value. But how can innovators recover from this addiction to ideas and move ventures forward? In this talk, innovation advisor and author Andrew Binns will draw on extensive research presented in 'Corporate Explorer Fieldbook: How to Build New Ventures in Established Companies' to answer this question. From spotting the signs of disruptive innovation breakdowns to setting hunting zones, he'll offer a practical approach for how to leave the idea zoo behind and accelerate scaling. He'll share case studies of corporate innovators at top companies, including Nvidia, Analog Devices and LexisNexis 'who have applied this approach to convert great ideas into thriving business opportunities. Managers are increasingly tasked with making tough choices about where to invest. Learn techniques you can apply immediately to increase the odds the bets will be on you.

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