KFAS Innovation Challenge 2016

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1 KFAS Innovation Challenge 2016 An applied executive education program designed in collaboration with the University of Cambridge Judge Business School

2 Nominate your team for the KFAS Innovation Challenge 2016 In today s fast-paced converging world, innovation is increasingly the inspiration behind sustainable business advantage and a catalyst for corporate growth. The Kuwait Foundation for the Advancement of Sciences (KFAS), invites companies in Kuwait s private sector to take advantage of this unique training opportunity to develop their company s innovation capabilities. Throughout the program journey that starts in Kuwait and concludes in Cambridge, UK. KFAS aims to develop innovation champions to elevate innovation to a core organizational capability. 2 KFAS Innovation Challenge 2016

3 KFAS has partnered with world-class academic institutions to bring advanced Executive Education to Kuwait s private sector with the objective to develop its capabilities through provision of programs carefully designed based on latest advancements and world-class experiences that respond to the changing needs of business. We strongly believe in the importance of executive education and its role in enhancing business leaders expertise in management and leadership in particular through science, technology and innovation as it provides a wealth of knowledge, skills, and tools that facilitates further growth. Director of Innovation & Enterprises Dr Mohamed Salman Kuwait Foundation for the Advancement of Sciences Apply online:

4 Develop innovation champions to lead your company s growth Program overview The KFAS Innovation Challenge 2016 has been developed in collaboration with the prestigious University of Cambridge Judge Business School, specifically for Kuwait s private sector companies. Cambridge Judge Business School has substantial capabilities and expertise in delivering customized executive education programs for companies around the world. The program offers 10 Kuwaiti companies an opportunity to develop their innovation capabilities. Teams will learn from Cambridge experts in workshops held in Kuwait and Cambridge, UK. They will put innovation into practice through team-based action learning workshops, innovation projects and mentoring. Selection for the KFAS Innovation Challenge 2016 is highly competitive. See page 14 for more information. 4 KFAS Innovation Challenge 2016

5 A well designed innovation concepts led by world-class faculty and supported by world-leading innovators. Extremely beneficial in gaining a competitive edge in your respective market. three phase program, covering core Mishari Fayez Al Jassim Head of Trading Ahli United Bank, Kuwait Participated in KFAS Innovation Challenge 2015 Application deadline: October 31, 2015

6 Program structure The KFAS Innovation Challenge 2016 is a blended learning experience taught over a period of six months. The program is centred around real business challenges that each team will bring where they need to innovate. That challenge will be explored throughout the program phases and teams will apply their learnings on their innovation projects. The program starts in November 2015 with webinars and workshops in Kuwait, followed by four months of mentoring on a bi-weekly basis. Mentoring will be provided by Cambridge Judge Business School in two forms, virtual and in person with a total of eight sessions schedule between January to April Teams will work on their innovation challenge with specific deliverables and are required to complete all deliverables to participate in the final module in Cambridge, UK, which will include a combination of site visits to innovative companies and lectures. A dedicated Virtual Learning Environment (VLE) will be used throughout the program by the team, Cambridge faculty members, and mentors as a platform for ongoing debate, support and study, and a resource for innovation materials. Teams are required to spend an estimated five hours of their time each week throughout the program on deliverables, including innovation readings, project work and assignments. Qualification for the final workshop in Cambridge, UK Teams will earn Achievement Badges for the successful completion of program deliverables. To qualify for the final workshop in Cambridge, teams must earn the required Achievement Badges. Teams that successfully complete all parts of the program will receive a Certificate of Achievement in Innovation and gain access to the Cambridge Judge Business School Executive Education alumni network. 6 KFAS Innovation Challenge 2016

7 Ideation Workshop Webinar Program components Webinar Fundamentals of Innovation Workshop Mentoring Mentoring Innovation team project Mentoring Mentoring Champions of Innovation Making it Happen Workshop Cambridge UK Apply online:

8 Put innovation at the top of your company agenda Company benefits: As a participating company you will benefit from the strategic and commercial impact of the learning and a specific innovation project developed for you by your team over the program journey. Accelerate organizational performance and develop sustainable competitive advantage. Learn best practices to introduce innovation as part of your company s culture. Demonstrate a commitment to future high-potential executives to develop innovation capabilities. Participant benefits: Gain a deep and practical understanding of innovation theories, approaches and the ability to translate an innovation vision into action. Develop the confidence and competencies to become an innovation champion within your company. Integrate new innovation strategies with your company strategies and successfully execute innovation initiatives. Program cost The cost of this unique training opportunity will be covered by KFAS. Companies will only be responsible for their team s travel expenses, if they qualify to attend the final workshop in Cambridge, UK. 8 KFAS Innovation Challenge 2016

9 Innovation is vital to the success of privatesector companies in today s global and local economies. We are delighted to be working in partnership with KFAS to deliver this unique programme. The KFAS Innovation Challenge 2016 is designed to develop innovative strategies and mindsets to help participants add real value through innovation. We envisage the program will become a transformative experience for participants and their respective companies. We look forward to working with the teams in Kuwait and are eager to welcome them to Cambridge, UK. Dr Javier Marcos Director of Custom Programs and Senior Teaching Faculty Cambridge Judge Business School Executive Education Application deadline: October 31, 2015

10 A transformative experience that will positively impact your team and company Innovation projects The KFAS Innovation Challenge Program 2016 is underpinned by a highly practical approach to innovation learning. From the outset, participants will work in teams on self-generated innovation projects that will put into practice the different phases of the innovation process. The program will result in innovation initiatives that can add real value and impact to your company. Team projects will go through ideation and new concept formulation; innovation planning and execution; product and service prototyping; testing and validating customer scenarios; and measuring the impact of innovation. Cambridge mentors will be assigned to your project team Cambridge mentors are faculty members or associates with in-depth experience in both innovation and mentoring individuals and teams, helping them to achieve their innovation goals. Cambridge mentors will offer highly personalized face-toface as well as virtual coaching and advice. They will ensure your team stays focused, on-track and fulfils their highest potential in terms of delivering their innovation project objectives. They will challenge your team to stretch themselves throughout the program and help them to develop innovation capabilities and skills on behalf of your company. 10 KFAS Innovation Challenge 2016

11 KFAS Innovation Challenge was an The extremely rewarding program, combining practical learning with world class teaching. Not only did we have the opportunity to interact with faculty members, we also gained firsthand experience of innovation from site visits. Dina Al Mahmood Executive Manager - Corporate Banking Gulf Bank, Kuwait Participated in KFAS Innovation Challenge 2015 Apply online:

12 Innovation topics taught on the program include Building a culture of innovation Building organizational innovation capabilities Innovation leadership and high performing teams Value proposition design Service and process innovation Generating new business models Design thinking and innovation Implementing innovation Program Timeline Sept 1 - Oct 31, 2015 Application time window Nov 1-11, 2015 Interviews and Selection Nov 17, 2015 Webinar Introduction to Ideation Nov 24, 2015 Executive Dinner Nov 25-26, 2015 Ideation and Creativity Workshop 12 KFAS Innovation Challenge 2016

13 Nov 25 Dec 12, 2015 Inter-module Project and Mentoring Dec 1, 2015 Webinar Frameworks for Innovation Dec 13-17, 2015 Fundamentals of Innovation Workshop Jan Apr 2016 Inter-module Project and Mentoring May 2-4, 2016 Team Presentations May 23-27, 2016 Making it Happen: Leading Innovation for Growth Workshop, Site Visits, Cambridge, UK Application deadline: October 31, 2015

14 Team selection for the KFAS Innovation Challenge 2016 Participation is open to all Kuwaiti private sector companies through nomination of a company team with size ranging between 2 to 4 members. It is essential for successful participation that each team has excellent dynamics. Selection criteria includes: Kuwaiti National. Motivated, ambitious, highpotential middle management across all functional areas. High proficiency in English. Teams with the potential to implement and drive innovation in your company. Evaluation and assessment, including an in person team interview will be conducted. Teams will be assessed on the business challenge they bring forward to the program during the interviews. The 10 teams with the highest potential to achieve the program objectives will be selected. No previous innovation experience is required. 14 KFAS Innovation Challenge 2016

15 How to apply Select your team internally and secure management approval Visit the program webpage at: innovationchallenge Fill-in the Team Application Form Download, complete, and submit the Agreement Document Download, complete, and submit the Business Challenge Document Important dates Application opens: September 1, 2015 Application deadline: October 31, 2015 Team interviews and selection: November 1-11, 2015 For further information Call: /2 all documents to: Apply online:

16 About KFAS The Kuwait Foundation for the Advancement of Sciences (KFAS) is a private non-profit organization with over 38 years history of supporting the advancement of science and technology in Kuwait. KFAS s work is overseen by a Board of Directors chaired by His Highness, the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. It is financially supported by Kuwaiti private sector companies through uninterrupted and generous contributions that amount to 1% of their annual net profit. KFAS mission is to stimulate, support, and invest in initiatives and human resources that contribute to the building of a strong science, technology, and innovation system and culture and fostering an enabling environment. The initiatives include improving public understanding of science; strengthening innovation and research capacity and enhancing the enabling cultural environment; supporting the gifted and talented; translating knowledge into innovation; and nurturing a solid foundation for a national knowledgebased economy by developing private sector s scientific, technological, and innovation capabilities. For more information: About Cambridge Judge Business School Executive Education The University of Cambridge Judge Business School leverages the power of academia for real world impact to transform individuals, organizations and society. Since 1990, Cambridge Judge has forged a reputation as a centre of rigorous thinking and high-impact transformative education, situated within one of the world s most prestigious research universities, and at the heart of the Cambridge Cluster, the most successful technology entrepreneurship cluster in Europe. The School works with every student and partner or client organization at a deep level, identifying important problems and questions, challenging and coaching people to find answers, and creating new knowledge. Cambridge Judge Business School Executive Education offers a wide range of open enrolment and customised programs for organizations, business professionals, managers, leaders, and executives from many different functions who strive for professional and personal growth. Programs are developed to help executives and organizations from both the private and the public sectors achieve operational excellence and results. For more information:

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