18th June 2019 4:30 pm - 6:30 pm
Innovation Exploration – Introducing systematised innovation for businesses
As part of Wakefield Business Week, Wakefield First and AD:VENTURE are teaming up to host an event that will help you to embed innovation as a culture in your business.
What is innovation and why do we need it?
Innovation is a well-worn word in business. But what does it ACTUALLY mean.
And more importantly, what does it mean to your business?
Well….we can give you a definition, but we are pretty sure this won’t answer your questions on the topic, or tell you if you are getting it right in your business.
Innovation, by definition, is the introduction of something new. Without innovation, there isn’t anything new, and without anything new, progress stalls.
If an organisation isn’t making any progress, it simply cannot stay relevant in the competitive market.
The McKinsey Report tells us 80% of executives think their current business models are at risk of being disrupted in the near future. In addition, 84% of executives say that innovation is important to their growth strategy.
This tells us innovation is strongly linked to opportunity – Disruptive new business models have proven they can topple global giants.
A rather obvious example is Netflix VS Blockbuster. Need we say more…..
According to the 2017 PwC Innovation Benchmark, 54% of innovating organizations have trouble bridging the gap between innovation strategy and the larger business strategy.
Some sobering stats on innovation:
So it’s understandable that organisations of all sizes need to understand how they can embed innovation, and to learn how to fail quickly, and as cheaply as possible.
That’s where we come in!
Our event will:
- Share how businesses can implement innovative practices
- Hear from actual business people who have done this successfully
- Learn about tools that can help a business to generate ideas, pick the winners and implement change
- Fun and interactive demonstration on how you can apply the principles to your business
Some of the models we will explore are:
You’ll leave with helpful handouts, new connections and a sound understanding of innovation.
We are hosting at the fabulous Create Café, and will have food and refreshments to keep you energised as we delve into this tricky topic.
So if you want to be a Netflix, come and get involved!!
If you want to be a Blockbuster, then this event is probably not for you…..
The AD:VENTURE programme delivers ERDF funded growth support to existing businesses in their first 3 years of trading and for people planning to start a business within the Leeds City Region.
The AD:VENTURE programme is supported by the 2014 – 2020 European Regional Development Fund.