Innovation Vehicles Unveiled: GELLIFY's Pioneering Insights
Innovation Vehicles Unveiled: GELLIFY's Pioneering Insights, GELLIFY has recently unveiled an insightful report delving into the realm of corporate innovation vehicles, titled "9 TYPES OF CORPORATE INNOVATION VEHICLES: HOW TO DRIVE INNOVATION." As a prominent global innovation factory that seamlessly blends strategy, design, and technology to propel companies from vision to execution, GELLIFY introduces a groundbreaking concept aimed at unifying various organizational structures under the umbrella term of "innovation vehicles."
In the landscape of innovation, familiar concepts such as innovation labs, R&D centers, corporate venture capital, and venture builders have been instrumental in driving inventive processes. Despite their distinct modes of operation, these entities share a common goal of fostering innovation within organizations. GELLIFY seeks to redefine the discourse by popularizing the term "innovation vehicles."
The report not only introduces this novel terminology but also offers a comparative analysis of the venture-building and innovation landscape, contrasting the practices of the 90s with contemporary approaches. It sheds light on how traditional methods, classified as "old school vehicles," such as mergers and acquisitions, joint ventures, R&D/tech labs, and internal innovation, sufficed in stable environments of the past.
In contrast, the current corporate environment, characterized by low entry barriers, rapidly evolving technologies, and heightened customer influence, demands a more agile and accelerated approach to innovation. GELLIFY identifies these as 'modern innovation' vehicles, crucial for corporations to thrive in today's dynamic landscape. Notably, the shrinking lifespan of S&P 500 companies, now averaging less than 20 years, underscores the urgency for adaptive and nimble innovation strategies.
Massimo Cannizzo, CEO & Co-Founder at GELLIFY Middle East, emphasizes this shift, stating, "20 years ago, innovation was primarily an R&D game, driven by rational re-engineering processes. Today, it is a creative exercise, a continuous process of inventing new ways and disruptive business models to outpace competitors in a matter of months."
To enable this paradigm shift, GELLIFY advocates for the establishment of "new" innovation vehicles—organizational entities designed to manage and execute diverse types of innovation with purpose and structure. These entities, in contrast to traditional vehicles, offer a more fluid and adaptable structure, ensuring focused, clear, repeatable, and measurable corporate innovation.
Each innovation vehicle, conceived as a permanent unit with dedicated objectives, team, and funding, undergoes a meticulous design process tailored to factors such as resources, existing culture, and corporate goals. GELLIFY underscores the importance of avoiding the pitfalls of the "4 innovation sins" and the 'innovation theater,' emphasizing the need for structure, strategy, purpose, execution, and a robust innovation culture.
Enrique Ortega, Managing Director and Business Innovation Consulting Lead at GELLIFY Middle East, likens innovation vehicles to cars, asserting that their effectiveness depends on alignment with the culture and business model of each company. He remarks, "No innovation vehicle is objectively better or worse than another; it all depends on what you need the vehicle for." In essence, GELLIFY advocates for a tailored approach, emphasizing the necessity of aligning innovation vehicles with the unique needs and circumstances of each corporate journey.