Let us create an Incubator or Accelerator program for your organization
For organizations, an incubator or accelerator is a new structure, acting as a valuable innovation and business building tool that is agile and fast paced, like an experimental playground within the framework of an organization. Within this new structure, new rules can be established creating an environment where ideas can flourish and grow, protected from the organizational structure and processes. For the organization it is a place to interact with innovation, a platform to explore ideas at the edge of their business and bring them closer to the mother company in order to drive economic benefit.
Progressively organizations consider these benefits and are setting up accelerators. However, some of these accelerators are not geared towards economic benefit, which is the reason why many corporate accelerators fail. In any healthy organization there is a culture of profitability and if the corporate accelerator does not pursue this culture as well, it will not survive within the organization.
Two possible models for a successful corporate accelerator designed to drive economic benefit are:
- Financial Returns: Economic benefit by achieving financial results on equity investments in the startups.
- Innovation Integration: Economic benefit by integrating innovative technologies or business models into the organization.
What organizations need is a way to connect their strengths and resources with external innovation in order to drive exponential growth and prevent themselves from becoming victims of digital darwinism. Established corporations own valuable resources such as a global infrastructure, strong brand reputation, business relationships, experience with regulators, scientific knowledge, process excellence and access to data. Startups and exponential organizations on the other hand, can offer corporations a flow of ideas, organizational agility, the willingness to take risk and the drive to scale rapidly.
This is where the concept of an incubator or accelerator comes in, acting as a bridge between outside innovation and the corporation. Incubators and accelerators provide a new environment for the corporation to set up new rules, a possibility to proactively spot ideas on the edge, as well as in the core of its business and a place where those ideas can be protected from the organization while also being supported by it.
The incubator or accelerator provides access to early stage innovation and ventures in a cheaper, faster and more flexible way than R&D, creating numerous advantageous outcomes. By investing and building scalable early stage ventures and gaining access to new exponential technologies, the accelerator creates great economic benefit while at the same time encourages an entrepreneurial spirit and culture within the corporation. Furthermore, it can help promote the company being innovative, thereby attracting the best talents, while supporting and benefiting from the local ecosystem of entrepreneurs.
LiftOff Health can provide:
- Community of top entrepreneurs in the healthcare industry.
- Mentorship from serial entrepreneurs, experts, angels and VCs.
- Education through customized programming and on-demand experts delivered to match the founders' needs.
To get started please e-mail email@example.com