There is a certain joy when things start coming together - a certain delight in delivery. That is exactly what 2014 is all about at Innoventures: fruition of the idea of Innoventures.
By the end of 2014, if we were to consider ourselves to be truly and undeniably successful, what would we have? The answer lies in three new ventures, with products either in development or fully developed, a series of customers in tow to vet for, improve, or expand on each product or solution. That’s success, defined.
Instead of leaning on three ventures to deliver on the Innoventures’ promise, could we possibly attain success by pinpointing nine ideas, apparently equally capable of launching and delivering new products and solutions for Softtek? During our Idea Development phase, nine ideas will be developed, a minimum-viable-product defined, a sales and marketing team assembled, and a general business execution strategy developed. At the end of the bootcamp, intrapreneurs will pitch their ideas to the Innoventures board, advisors, and mentors.
The initial three ventures that Innoventures vests in will have access to office space, Softtek facilities, customers, sales and legal teams, and an army of mentors and developers to guide each opportunity to success. Success isn’t simply developing a product or solution, but lies in the ability to integrate these ventures within Softtek’s framework or establish them as independent entities with a clear path to profitability.
Our progress is also measured by the participation of the entire organization – their eagerness and passion to step out of their defined roles and work with us. We are also validating our purpose based on the learning and culture of entrepreneurship we bring to Softtek. In order to be successful, Innoventures needs to truly integrate with Softtek’s long-term strategy and provide innovative and entrepreneurial solutions to business challenges.
Of course, we worry about contingency plans, a Plan-B. While internal communications, incentives, human capital, mentors, champions to push the program – there’s so much lined up, and yet so much could go wrong! When Innoventures was launched, we started with a blank canvas to put together a solution to energize and innovate within Softtek. Slowly, ideas formed around how to best structure, where to innovate, and set milestones and objectives. Softtek, we are ready.
Fingers crossed, we roll out Innoventures in the first week of March!
