No Jumping Through Hoops for Approval
The seed fund approach is also valuable for the innovators themselves in that it greatly facilitates the process by which they can obtain funds. Innovation is stymied if potential innovators must jump through numerous approval processes and layers of management before they receive funding. You do not want innovators encountering endless managers or accountants who control the funds and might be tempted to turn down funding for innovative ideas. The best scenario for a seed fund is that it brings the funds as close to people as possible, literally enticing them to innovate.
Whirlpool used middle managers, boards of managers, and internal innovation consultants to disperse the seed funds based on the business ...
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