Innovation has become the leading paradigm of business. The implementation of an innovation culture is the key to companies’ future viability and is becoming more relevant as a competitive factor. Silicon Valley is considered to be the role model and innovative ideal; disruption, entrepreneurship and new business models are the keywords here.
This is why large companies choose to set up their own innovation labs and try out start-up methods – from design thinking, business model generation, through to the lean start-up. Accelerator programs, whereby spin-offs are generated and funded, serve to drive companies’ innovational powers. Other possibilities include the integration of innovative customers and stakeholders through open innovation.