Forbes: Rethinking Corporate Incubation: The Power Of The Innovation Pipeline
Hangar 75 CEO Ian Wilding's recent article ‘Rethinking Corporate Incubation: The Power Of The Innovation Pipeline’ was published on Forbes.com.
Summary of Article
Ian Wilding, CEO of Hangar 75, examines the pivotal role of internal incubation programs in driving corporate innovation in his article for Forbes. He advocates for these programs as essential tools for fostering a culture of creativity and innovation within companies, enabling them to maintain a competitive edge and align with long-term goals.
Wilding highlights that internal incubation programs are not just about generating ideas but creating an environment where these ideas can develop into real-world applications. This approach helps companies produce unique products and services that resonate with their brand and customer base, providing a distinctive competitive advantage and ensuring long-term sustainability.
The effectiveness of these programs is measured by the vitality of the innovation pipeline, which tracks the progress of ideas from inception to deployment. Wilding suggests that a healthy innovation pipeline—one that sees a significant percentage of ideas reach prototype and full-scale deployment stages—indicates a successful incubation process.
Furthermore, Wilding stresses the importance of quantifying the outcomes of these initiatives. He argues that for every dollar invested in the program, there should be a tangible return, which can be measured in terms of customer satisfaction and commercial gains. This return on investment demonstrates the direct value generated from the incubation activities.
Finally, Wilding posits that successful internal incubation programs not only yield financial returns but also position companies as thought leaders in their industries. These programs enhance employee engagement and attract top talent, fostering an organizational culture that values continuous learning and adaptability.
Conclusion: Internal incubation programs are crucial for companies aiming to innovate from within, providing a structured pathway to transform ideas into valuable products and services while reinforcing the company's market position and cultural strength.
The full article can be viewed here.
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