INNOVATION 4 GROWTH Building sustainable business growth through innovation

INNOVATION 4 GROWTH Building sustainable business growth through innovation

THE BUSINESS HAS TWO AND ONLY TWO BASIC FUNCTIONS: MARKETING AND INNOVATION. MARKETING AND INNOVATION GROW THE BUSINESS; ALL THE REST ARE COSTS. Drucker INNOVATION Companies are looking to accelerate their growth and to do this successfully, they must focus on the changing needs of their customers and produce better products and services than their competitors. This leads to a sustainable growth in profits and puts the company back on the right trajectory for long term success. Innovation is a process, which when used effectively, gives a company real competitive positioning. It delivers areas of differentiation through new processes, new products, new channels, new services and solutions and most importantly allows companies to break into new markets and access global customers. Innovation 4 Growth focuses on market led ideas and converting them into products, services or processes. It will inspire you to put in place the necessary frameworks and resources to execute on and profit from a broad range of projects or initiatives including new business models, processes, products and services.

THE JOURNEY PROGRAMME USPs Boostcamp Giving 50 companies an end to end innovation experience inspiring ideas and providing a toolkit for next steps Enterprise Ireland has partnered with the Irish Management Institute (IMI) to deliver Innovation 4 Growth (I4G). I4G is a unique programme specifically designed to meet the needs of ambitious and entrepreneurial Irish companies seeking to use innovation as a way to unlock opportunities in the marketplace. Targeting leaders in the management team the programme will fast track your company through an end-to-end innovation journey and support you to deliver on one or more innovation initiatives. Your team effectively gets the opportunity to behave like a start-up business again and kick-start a series of new projects. Centred on three distinct Journey Phases the programme also incorporates significant peer-to-peer and business coaching support to help you implement practices within your company. Tailored Journey Giving companies an individualised journey with global innovation experts and just in time support International Innovation Thought Leadership Meeting successful Swiss SMEs through a partnership with the No. 1 in Exec Ed, IMD in Switzerland. Switzerland retained the top performing country position in the Global Innovation Index ( 2013) Local Implementation Support Experienced Business Coaches who combine business innovation expertise with an ability to effect behavioural and cultural change Metric Driven Design Mapping each company s current and future states as well as progression through the programme. Specifically driving for an Innovation Premium The Irish Management Institute (IMI) is the only Irish business school globally ranked and benchmarked against many of the world s top business school for its programmes and their direct impact on business performance. IMI s success is attributed to how their client companies distill the value of best practice teaching and embed new practices and behaviours that deliver significant and sustainable return on their investment. Sustainability Embedding a customer centric mindset, culture and processes through live projects. Providing networks for life!

THE JOURNEY A LEARNING JOURNEY We recognise that the resources, capability and readiness of your company to commit to this programme will differ from other companies embarking on the innovation journey. Innovation 4 Growth is delivered for you in three distinct phases and although the full programme will run over 24-months, you may choose the option of completing Phases II & III within subsequent programme iterations, in accordance with a pace that suits your company. PHASE I PHASE II PHASE III 50 companies commence the Innovation 4 Growth programme INNOVATION READY companies progress and are assigned a dedicated coach PROGRAMME LAUNCH with an introduction to design thinking, overview of programme structure and innovation diagnostic BOOSTCAMP delivered by an international faculty including case studies, tools & templates and support from business coaches INNOVATION READINESS PLANS submitted by 50 companies MODULE 1 Intelligence Gathering with Mairead Brady, Design Thinking workshop & business coaching session MODULE 2 Innovation in Practice with an international visit to IMD in Switzerland, including company site visits MODULE 3 Value Creation with John Fahy, Design Thinking workshop & business coaching session POST PROGRAMME SUPPORT & NETWORKING Focusing on driving and sustaining innovation for the long-term, including: - Peer support networks & business coaching - Measurement of innovation progress - Presentation of success at an Innovation Showcase Finale BUSINESS COACHING to support the development of Innovation Readiness Plans & and provide feedback on Innovation Diagnostic results MODULE 4 Managing Innovation with Stelios Kavadias, Design Thinking workshop & business coaching session 50 COMPANIES WITH AN INNOVATION PLAN TO DRIVE BUSINESS GROWTH MODULE 5 Leading Innovation with Richard Gerver, Design Thinking workshop & presentation of innovation initiatives

PHASE I LAUNCH DAY & BOOST CAMP (4 DAYS OVER 3 MONTHS) BOOST CAMP Focusing on assessment, education and inspiration this phase supports your development journey of innovation within your company. Starting with a benchmarked assessment of your company s current status this phase will support you to identify gaps and strategies to improve your company s innovation management capability. Leading international thinkers and innovation experts will expose you to best practice and guide you through a complete end-to-end overview of innovation, including design thinking, innovation processes, strategy and culture. A Business Coach will spend some time with you and your team supporting you to develop an Innovation Roadmap for your business. At the end of this phase you will develop an Innovation Readiness Plan, outlining how you will drive growth in your company through one or more innovation initiatives.

PHASE I INTERNATIONAL BEST PRACTICE SPARK SHAPE SUSTAIN Roberto Verganti Is the author of Design-Driven Innovation: Changing the Rules of Competition by Radically Innovating what Things Mean published by Harvard Business Press, which offers a new view of strategy and innovation thinking and practice. The book has been nominated by Business Week as one of the Best Design and Innovation Books of 2009, and by the Academy of Management for the George R. Terry Book Award as one of the best 6 books published in 2008 and 2009 that have made the most outstanding contribution to the advancement of management knowledge. It has been translated in Chinese, Japanese, Korean, Italian and Portuguese. - Design think and innovation - Human centred design innovation - Creation of new business models - Customer-centric design - Rapid ideation and prototyping Julien Birkinshaw Is Professor and Chair of Strategy and Entrepreneurship at the London Business School. He is a Fellow of the British Academy, a Fellow of the Advanced Institute of Management Research (UK), and a Fellow of the Academy of International Business. He is co-founder with Gary Hamel of the Management Lab (MLab). - Embedding innovation - Developing a culture of innovation - Practices and processes for value creation - Lean start-up methodology For more information on Julien visit www.designdriveninnovation.com Rita Gunther McGrath Is a Professor at Columbia Business School, is regarded as one of the world s top experts on strategy and innovation with particular emphasis on developing sound strategy in uncertain and volatile environments. Her ideas are widely used by leading organizations throughout the world, who describe her thinking as sometimes provocative, but unfailingly stimulating. She fosters a fresh approach to strategy amongst those with whom she works. Thinkers50 presented Rita with the #1 award for Strategy, the Distinguished Achievement Award, in 2013. Rita is in their top ten global list of management thinkers overall. She has also been inducted into the Strategic Management Society Fellows in recognition of her impact on the field. - Innovation and Strategy - Forms of innovation - Need for innovation - Barriers to innovation - Case study For more information on Roberto visit www.designdriveninnovation.com For more information on Rita visit www.ritamcgrath.com.

INNOVATION INCUBATOR PHASE II INNOVATION INCUBATOR (11 PROGRAMME DAYS OVER 8 MONTHS) This phase is delivered over five modules, each focusing on a distinct aspect of innovation in business, supporting you to implement one or more innovation initiatives within your company. Modules one, three, four and five incorporate a Master Class on the first day, led by an experienced innovation facilitator, and a Design Thinking workshop on the second day, focused on supporting you to execute your company s innovation initiative(s). Swiss Excellence through Innovation Module two comprises a three-day visit to Switzerland, the world s top performing country in Innovation (Global Innovation Index, 2013) and home to IMD in Lausanne, the world s leading Executive Educator and developer of multiple SMEs with a proven track record in Innovation. Supporting your business all the way Throughout the journey, you and your team will be supported by a Business Coach who will guide you through the implementation of your innovation initiative. Between modules you will have access to IMI s Simulation Space at the Campus in Sandyford where you can avail of physical space to brainstorm with your wider team and get access to a diverse range of relevant experts who will provide just-in-time support as you implement your project.

PHASE II FACILITATORS INTELLIGENCE GATHERING INNOVATION IN ACTION Mairead Brady Is an Assistant Professor of Marketing at the School of Business, Trinity College Dublin and the Academic Director of the BESS programme. She lectures at undergraduate and postgraduate level, supervises PhD students, and regularly contributes to executive education programmes in Ireland and abroad. Her research and teaching focuses on the role of digital technologies in marketing and their impact on marketing practice in general and on the consumer interface in particular. Howard Yu Howard Yu is Professor of Strategic Management and Innovation at IMD. His research interests include technological innovation, strategic transformation and change management. His teaching and research activities focus on why and how some firms can sustain new growth while others cannot. Howard s paper titled How Established Firms Can Transform Themselves won the prestigious best paper award in the Israel Strategy Conference. - Creating Value Bill Fischer Bill Fischer is a Professor of Innovation Management at IMD. He co-founded and co-directs the IMD program on Driving Strategic Innovation, in cooperation with the Sloan School of Management at MIT and also authors a regular column for Forbes.com entitled The Ideas Business. An engineer by training, American by citizenship, Bill has lived much of his life in Asia and Europe. - Capturing Value - Design thinking workshop - Design thinking simulator Following on from the previous module that captures and distills value from market led insights, the overseas module brings participants to Switzerland to explore how innovation is created through seeking ideas from multiple and diverse partners within the value chain. As a global leader in innovation, Switzerland s performance through enterprise is among the best in the world and, with public sector support, has retained a top position in the Global economy (Global Innovation Index, 2013). Participants will learn how to proactively seek out ideas and how to turn these ideas into actions that lead to prototyping and testing of products, services or processes. Creating innovation is not a guarantee of profitability so this module addresses how to drive and capture the value of innovation through a host of strategic choices. To further shape learning, participants will visit and engage with Swiss SMEs, many of whom having experienced pressure from low cost competitors sought ideas from their value chain to identify strategic options and choices that led to new product or service innovations.

PHASE II FACILITATORS VALUE CREATION MANAGING INNOVATION LEADING INNOVATION John Fahy An award winning international educator, John Fahy is currently Professor of Marketing at the University of Limerick in Ireland and Adjunct Professor of Marketing at the University of Adelaide, Australia. He has a distinguished track record in the fields of marketing and business strategy. In particular, he is known for his work in the area of marketing resources and capabilities and how these factors impact on organisational performance. - An understanding of the need for a distinctive and customer-focused value proposition. - The tools to analyse and develop the organisation s own customer value proposition. Stylianos (Stelios) Kavadias Professor Kavadias serves as an Associate Editor for Management Science s Entrepreneurship and Innovation department, and as the Department Editor for the R&D, New Product Development and Project Management department of Production and Operations Management. At Georgia Tech s Huang Executive Education Center he regularly contributed to open enrolment and custom executive programmes on innovation and project management, and was the Academic Director of their GE Energy PLMP programme. He has authored several case studies through close collaboration with major firms across multiple industries. - An understanding of innovation as a set of value creating processes - How to allow for failing fast - Performance management of innovation / appropriate and accessible KPIs to measure progress. Richard Gerver Richard is one of the most celebrated speakers in the world. His insights into change, leadership and education are unique thanks to his own extraordinary journey, which has seen him go from being a struggling actor, copywriter and estate agent, to becoming an award winning teacher and school principal, whose ground breaking work in education was celebrated by the British National Teaching awards and UNESCO amongst others. - How to embed the systems of intelligence gathering, collaboration, and managing innovation - How to develop an innovation process that can be easily scaled

SUSTAIN INNOVATION PHASE III SUSTAINING INNOVATION (2.5 PROGRAMME DAYS OVER 12 MONTHS) This phase supports you to sustain innovation for the long-term and is delivered through a mix of peer learning forums, further in-company coaching and an innovation showcase finale.

IMPLEMENTATION SUPPORT WHO IS THIS PROGRAMME FOR? This programme is all about delivering innovation as opposed to learning about it. Business Coaches have been carefully selected to support you and your team with the implementation of your innovation project. Innovation 4 Growth Business Coaches are all experienced business practitioners with a background in industry working as senior managers and driving innovation across a variety of industry sectors. Their role is to advise and coach, bringing their experience to bear and facilitating you as a team to develop your innovation idea from concept to execution. Their role is to challenge your team to develop the capability required to drive innovation within your company. Their objective is to support the transfer of learning to your company, build capability in your management team and ultimately support you to deliver business impact. This programme is a best fit for companies who are serious about innovation and see it as key to their growth plans. Participants on this programme should have: - An identified growth plan to develop in international markets, using innovation as a key growth driver. - A senior management team with the time, resources and commitment to the programme and the delivery of innovation initiatives. - A level of sophistication around management practices that will support an innovation culture and processes. - Commitment to complete the innovation programme journey (within a 3 year period). It is expected that participants will include three members of the senior management team, including the CEO. Each participant should be a key influencer within the company and hold the required decision-making and budgetary responsibility to action innovation initiatives and embed innovation across the organisation.

PROGRAMME BENEFITS Innovation 4 Growth allows your management team an opportunity to take time out of your business to focus on how you may drive your company s growth through innovation. During the programme you will be guided by world class innovation leaders, practitioners and Business Coaches within the company of peers from other organisations facing similar challenges. You will emerge from each programme phase having gained the following: PHASE I: - A deeper understanding of how to manage and drive innovation within your company, based on the latest innovation thinking and best practices. - Tools and templates to support you to plan and execute on innovation initiatives within your business. - An internationally benchmarked assessment of your company s current innovation management capabilities and an indication of where your capability gaps lie. - A customised roadmap to support you and your team accelerate implementation of innovation initiatives to drive business growth. PHASE II: - Development of one or more innovation initiatives within your business, supporting business growth. - Experience and insights into how you can support your company to become more innovative in the medium to long-term, delivered by a cadre of innovation practitioners. - In-company team coaching support from highly experienced Business Coaches with a proven methodology for supporting leaders as they implement innovation initiatives and drive a culture of innovation. - Significant networking opportunities with management teams from other companies, in addition to access to international business and innovation leaders. - Access to innovative Irish and international SMEs, through a combination of live case studies and company visits. - Visit to IMD in Lausanne Switzerland, a world leader in executive development PHASE III: - Peer guidance and structured network to sustain innovation within your company - Access to IMI and Deloitte Leader Networks both in Ireland and abroad. - Participation at an Innovation Showcase Conference with access to cutting edge innovation insights, presentation of innovation initiatives with participant reflections and learning including a final awards ceremony. - An opportunity to re-assess your company s innovation management capability post-programme, assess the progress you have made and benchmark your position internationally and by sector. While each programme phase will deliver specific benefits to your company, completion of the full programme journey will enable you to deliver on key business outcomes, including: - A fully developed, monitored and implemented innovation growth strategy. - A set of customised innovation metrics to measure innovation going forward - Improved solutions (products / services / business model) in line with existing or potential customer and market needs - A clearly differentiated offering and/or product/service from the competition. - An increased engagement with customers and other key stakeholders to identify customer and market needs as a source of innovation. - An embedded structure, framework and culture to drive innovation. - Increased sales turnover, export sales, jobs and productivity.

FOR FURTHER INFORMATION PLEASE CONTACT: Karen Hernández Programme Manager, Innovation 4 Growth Telephone: (01) 7272577 Email: innovation4growth@enterprise-ireland.com Closing date for applications is: Friday 22nd August 2014 and should be submitted by email to: innovation4growth@enterprise-ireland.com www.enterprise-ireland.com/innovation4growth Programme Timeline: PHASE I Programme Launch Thursday 2nd October 2014 Boost Camp Wednesday 5th November 2014 Thursday 6th November 2014 Friday 7th November 2014 PHASE II Module 1 Module 2 (Switzerland) Module 3 Module 4 Module 5 Wednesday 18th & Thursday 19th February 2015 Monday 31st, Tuesday 1st April & Wednesday 2nd April 2015 Wednesday 17th & Thursday 18th June 2015 Wednesday 16th & Thursday 17th September 2015 Wednesday 18th & Thursday 19th November 2015 PHASE III January 2016 to December 2016 Programme Costs: Total Programme Costs for Phase I 5,000 Company Size (SME) Enterprise Ireland Contribution: 70% - 3,500 Cost to Company (3 participants): 30% - 1,500 Company Size (Large) Enterprise Ireland Contribution: 50% - 2,500 Cost to Company (3 participants): 50% - 2,500 Total Programme Costs for Phase II & III 48,333 Company Size (SME) Enterprise Ireland Contribution: 70% - 33,833 Cost to Company (3 participants): 30% - 14,500 Company Size (Large) Enterprise Ireland Contribution: 50% - 24,167 Cost to Company (3 participants): 50% - 24,167