Corporate innovation can often be a challenging and complex process, particularly for established companies. Traditional businesses are typically designed to execute a proven business model, not to search for new ones. As such, the process of innovation can be met with resistance, especially when it involves the potential disruption of existing operations.

One effective method for fostering innovation is through the use of Innovation Outposts. These are small teams located outside of the main company, often in innovation clusters like Silicon Valley. Their purpose is to create a link between the corporation and the startup and academic world. This allows the company to keep abreast of new technological developments and trends and to identify potential acquisition targets.

However, for Innovation Outposts to be successful, it’s crucial that they have clear goals and a well-defined relationship with the parent company. It’s also important that they are given the autonomy to operate independently and are not constrained by corporate bureaucracy.

Moreover, the company must be willing to act on the insights and opportunities identified by the Innovation Outposts. This can involve making strategic acquisitions, forming partnerships, or investing in new technologies. If the company is not prepared to do this, the Innovation Outposts are unlikely to deliver the desired results.

In conclusion, Innovation Outposts represent a potential solution to the challenge of corporate innovation. However, they require careful planning, management, and a commitment to action in order to be successful.

Go to source article: http://steveblank.com/2015/03/17/getting-to-yes-for-corporate-innovation/