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TechInnovate Intrapreneurship Training
Enabling technology innovators and innovations
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“A business’s greatest asset is its people”
● Corporates are in an increasingly challenging, noisy and competitive marketplace
● Millennial job hopping is becoming more and more common
● Upskilling/retaining talent has become a core focus
● Need to keep the right people● Allow them to develop/deliver through their
careers● Supporting employees to unleash full
potential of their talent to the benefit of the business is now not only a "nice to do", but essential to the bottom line
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http://bit.ly/millennialintrapreneurs 3
“Why Big Companies Should Act Small to Engage Millennials”, Forbes, 14 November 2016
Only 29% of millennials are engaged
Many pursue a ‘side hustle’ outside of their job
Impacts on the bottom line: revenue
How can we change this?
Employee engagement is a big challenge
● Missed opportunity is to think of existing employees as just that - employees - when in reality they can be skilled, creative and innovative intrapreneurs:○ Sometimes the solution is right in front of you○ Work with people already embedded in the business and its
culture, who have a detailed understanding of its customers, a sense of the culture, a passion for the business they're in
● Upskill high potential and top talent to develop technology innovations more routinely expected from external consultants
Employees can be more: skilled and innovative intrapreneurs
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Train, deliver, support
● Why go outside when the talent already exists internally?
● We want to train teams of three from corporates in the entrepreneurial principles and processes for creating innovation-driven enterprises
● Delivering skilled and engaged employees who can pursue new ideas that support the mission and vision of the corporate
● Thereby supporting the corporate to launch new products and services or pursue new markets
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“An environment of intrapreneurship give employees in general, and millennials in particular, the freedom to pursue new ideas that support the mission and vision of their company.”
“Owning an idea from start to finish is important for intrapreneurship to work.”
Intrapreneurship is a solution (Forbes)
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● “Big Companies That Embrace Intrapreneurship Will Thrive”, Entrepreneur, 19 March 2015
● Mac, iPod, iTunes, iPhone, iCloud inside of Apple
● Gmail, Google News, AdSense, driverless cars, Glass inside of Google
● Divisions launched by Virgin: Air, hotel, casino, books, music, Megastore, mobile, wines, games, Galactic
Some famous intrapreneurial outputs you’ll know (and love?!)
● PlayStation inside of Sony● Saturn inside of GM● Post-It Notes inside of 3M● Elixir Guitar Strings inside of
W.L. Gore (GoreTex makers)● SkunkWorks fighter jet
project inside of Lockheed● Java programming language
inside of Sun Microsystems● Digital Light Processing
technology inside of Texas Instruments
https://www.entrepreneur.com/article/243884 7
● Giving industry teams the skills to create an innovation-based new venture
● Follows MIT’s Disciplined Entrepreneurship approach● Particular focus on Innovation-Driven Enterprise (IDE)
From single entrepreneurs trying to launch new ventures all the way up to large multi-billion dollar corporations seeking to achieve their goals through entrepreneurship, intrapreneurship and innovation, the same fundamentals can be successfully applied
Intrapreneurship training
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Skills to be acquired
● Covers the process of identifying and quantifying market opportunities, then conceptualising, planning, and creating a new technology innovation○ Participants develop detailed business plans
for their technology innovation
● This is intended for participants who want to start a new industry division, further develop an existing business, be a member of a management team in a new enterprise, or better understand the entrepreneurial / intrapreneurial process
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Disciplined Intrapreneurship: Six themes or groups of stepsA. Who is your customer?B. What can you do for them?C. How do they acquire your product?D. How do you make money off your product?E. How do you design and build your product?F. And how do you scale?
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A. Who is your customer?
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B. What can you do for your customer?
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C. How does your customer acquire your product?
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D. How do you make money off your product?
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E. How do you design and build your product?
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F. How do you scale your business?
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All together now
Image by John Breslin (adapted from Bill Aulet) 17
Who takes part?
● Companies send teams of three who work through the process to launch technology innovations:○ This includes working through issues of
market analysis, technology viability
assessment, competitive positioning,
team-building, product life-cycle planning,
marketing strategy, sales channel analysis,
and a strong emphasis on the entrepreneur/intrapreneur as a salesperson
● The training is led by Dr John Breslin, TechInnovate Director, and teams will be mentored by our TechInnovate Fellows (all industry professionals)
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TechInnovate Director: Dr John Breslin, co-founder boards.ie, adverts.ie, StreamGlider Inc.; Innovation District/PorterShed; Startup Galway; Insight
TechInnovate Fellows: Ronan Boyle, electronic engineer with significant industry experience in the medtech industry; Leon Butler, accomplished visual narrative designer who recently completed a residency in LA; Dr Paul Flynn, design thinking and learning environments specialist with an education and engineering background; Niamh Lynch, an expert in quality and risk management for the medtech and pharma industries; Greg Payne, expertise in financial services, compliance and sales with a background in sports science; Ciara Shields, results-focused marketing and international business development executive with a passion for startups
Training team
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● The training will be run over a period of 20 weeks, with 10 one-day workshops held every fortnight
● Each workshop will cover two-three of the 24 steps● After each workshop, each team will have the
remainder of the two weeks to work on sections of their overall business plan, for turning in at the subsequent workshop
● The workshops will be run in TechInnovate, NUI Galway (Block E), from January to May 2017
Format of training workshops
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Business plan
● The main deliverable for the workshops is a complete business plan for a viable new venture
● Teams of three people will work together on their business plan
● Each team should also recruit an outside advisory board for guidance
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Sections
● Over the course of the intrapreneurship training, each team will develop and return the various sections of their plans, based on the 24 steps process, including an executive summary and sections on vision and values, marketing analysis / segmentation, competition, value proposition, go to market, product technology, and financing
● Sections will be turned in roughly every two weeks, checked, and returned with feedback
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Final deliverable
● At the end of the training, each team will submit a final business plan:○ This is an amalgamation of previous sections, including market
analysis/segmentation and competition, a product and
manufacturing plan, a sales plan, a financial plan, and a marketing plan
● We will encourage participants to revise all sections before submitting their final plans
● Business plans range from 15–20 pages
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Guest speakers
● We will have various guest speakers over the course of the workshop series, who will be entrepreneurs or CEOs who have started their own companies, or people otherwise involved in new venture creation
● Guest speakers will provide both an overview of their venture as well as specific guidance on the topic of the session they attend:○ They will generally speak for 20 minutes; 20
minutes for Q&A
○ Barry O’Sullivan: Silicon Valley-based investor,
entrepreneur; CEO of Altocloud; former SVP at Cisco; RTÉ’s Dragons’ Den 24
FAQ
● Companies should send teams of three to be trained up in the TechInnovation process
● Starting in January each year, there are 10 full day workshops, run fortnightly (over 20 weeks)
● After the 20 weeks, the teams will have a project pitch ready to give to their head of innovation / R&D
● Needs are sourced from the company’s own customers, and all IP is owned by the company for whatever their team develops during training
What is the cost? 10k per team of three / 10 workshops 25
Who should attend?
What is the timing?
What is the output?
What about ideas / IP?
What do we (as a company) get out of it?1. The skills (structures and processes) to develop an
innovation-driven venture (new product, subsidiary)2. Opportunity to go from idea/technology to product
plan and pitch (to your head of innovation / R&D) [not everyone can get “Google 20% time”]
3. Interaction with others undergoing a similar process in different domains
4. Way to attract/keep millennials/mitigate job hopping5. A corporate entrepreneurship department template
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What do I need to put into it (other than turning up and paying for some training)?You will need to complete work in between each workshop, to show results for various steps in the process before progressing on to the next one
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Do I have to be into defence or agriculture, i.e. is it only focused on these sectors?
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No, any sector
Our mentors are working in these areas but the process is domain agnostic
Your fellows act as mentors - in what? Helping us (as a company) validate some of our internal ideas? Or something else?They can help with needs filtering / idea validation, but mostly with following through the process and assisting when stuck
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“Disciplined Entrepreneurship” - what does this mean? Is there a link, and how is it relevant?It’s a structured process for startup development from MIT - www.disciplinedentrepreneurship.com - the same processes are applicable to internal innovation in companies as well as for startups (and have been applied in both areas)
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● Engineers Ireland is allowing engineers to self-record and report CPDs using the ‘My CPD’ system from 1 January 2017: ○ http://www.engineersjournal.ie/2016/06/28/new-cpd-engineers
-ireland-policy/
● Participants can record this course as part of their 35 hours per annum
Does this qualify for CPDs?
Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 31
What about IP (again)?
Needs are sourced from the company’s own customers, and all IP is owned by the company for whatever their team develops during training
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