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Strategic Innovation: Embedding Innovation as a Core Competency in Your Organization by Nancy Tennant Snyder, Deborah L. Duarte

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FUNDING INNOVATION BY SEED FUNDS

Under Hamel's Silicon Valley paradigm, funding is the first key internal market that organizations need to emulate. Research shows consistently that one of the primary factors behind innovation failure is the lack of ample funding for ideas. Financial systems in most companies are not set up to fund innovations that by their nature create risk. Quite the contrary, the typical financial system is dedicated to managing, if not reducing, risk. Even if risks are funded, they are generally big “bet-the-farm” kind of risks that only the people at the top of the organization can take.

Exhibit 6.1. Resource Allocation Versus Resource Creation

For innovation embedment to succeed, leaders must set a much lower threshold ...

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