Forbes: Three Must-Have Early Innovation Indicators

October 23, 2019

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These days, almost every organization claims they are innovating. But innovation means different things to different companies. For some, it’s the dated 2000s mantra to build everything in-house. For others, it’s a potpourri of corporate innovation labs, accelerators, corporate VCs, M&As and strategic partnerships. Others are choosing to outright outsource innovation altogether to big agencies, offshore development shops or venture studios. In this wild west of innovation, how do you know if your innovation is really working? Most projects quietly fade into the background, and the few that make it out produce dismal business results.

According to a BCG study, 73% of respondents believed that measuring innovation is important. After all, successfully commercializing a new product or service requires an effective innovation process to vet the best ideas, properly allocate resources and measure outcomes. Yet only 43% of businesses measure innovation. Even more disappointing, of those that do measure, 59% indicated that their metrics for innovation were ineffective.

To read the full article, visit Forbes: https://www.forbes.com/sites/forbesbusinesscouncil/2019/10/23/three-must-have-early-innovation-indicators/

About Scott Amyx

Managing Partner at Amyx Ventures, Top Global Innovation Keynote Speaker, TEDx, Forbes, Singularity U., SXSW, IBM Futurist, Tribeca Fellow