Corporate innovation programmes are increasingly focusing on team building and fostering internal innovation, according to recent data. A study of 140 corporate innovation leaders revealed that 61% of these programmes are centred on team collaboration. Meanwhile, 53% aim to empower employees to innovate, and 47% focus on creating a culture of innovation, indicating a shift towards a more inclusive, bottom-up approach.
The study also highlighted that 41% of corporate innovation programmes use a dedicated innovation team, while 33% rely on an innovation centre or lab. Interestingly, only 20% of the programmes involve external accelerators or incubators.
In terms of funding, 57% of the programmes are funded by a dedicated budget, while 32% rely on existing departmental budgets. A significant 11% have no budget at all, relying solely on employee dedication and passion.
The data suggests that corporations are recognising the importance of internal collaboration and empowerment in driving innovation. This approach not only encourages a culture of creativity and progress but also ensures the sustainability of innovation efforts by embedding them within the organisation’s structure and processes.
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