You only have to look at the startup landscape and the changing ranks of the Global 1000 to realize that every company whether large or small will either grow or die depending on how they innovate in our fast changing world.
Last week I had the opportunity to understand this agenda from some of the largest and most innovation driven companies in the world like 3M, Google, Lego, and hundreds of others at the Innovation Roundtable Summit in Copenhagen. Just as I was keen to learn from these leaders, many of whom are customers and partners to our investments, they were keen to learn from us about innovation in startups.
I shared these slides in my keynote to inspire a discussion around opportunities for innovation.
Following the keynote, I was lucky enough to run a couple of workshops and join some roundtables where I enjoyed getting participants out of the traditional comfort zone of thinking about innovation as purely about technology.
Indeed innovation increasingly comes in many forms including around business models and customer engagement in our rapidly evolving digital world. In thinking about where companies’ CORE value lay we discusses some of the key concepts around Game Changing Business Models.
In these discussions it was incredibly clear how even the largest companies were either well aware of their core competencies or quick to understand how important building around their CORE would drive their innovation advantage.
In my final slides we began a dialogue around what advantages large and small companies have relative to each other. Of courser large companies have many resources to compete very differently than startups.
However the one advantage startups have proven over and over again can be their competitive advantage is speed and agility.
The opportunity of course to learn from each other and in the right circumstances partner effectively together was compelling. If you’re a startup, you might find this article interesting on how small companies can get big fast by partnering. And if you’re a large company, we welcome the chance to continue the dialog we started. Just leave your comments below.