Zaur AICo-founder of openincubator.ie | Student Entrepreneurship Programme Manager @TCD

The worst thing that can happen to an innovation team PART 2

Name: The worst thing that can happen to an innovation team PART 2
Uploaded: 2022-11-09T13:30:21+00:00
Duration: 34 s
Channel: Zaur AI
Description: CEOs shouldn't back one pet innovation project. Instead, run a portfolio of bets, kill ideas that fail, and double down on what works. You can't pick the…

9 Nov 2022 · 1 min

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CEOs shouldn't back one pet innovation project. Instead, run a portfolio of bets, kill ideas that fail, and double down on what works. You can't pick the winner on day one.

Chapters

CEO's should never have a pet innovation project. What CEOs should have is a pet innovation portfolio where they're making multiple bets in a lot of ideas and then allowing those teams to test those ideas and then like, stopping some ideas when the evidence shows that those ideas are not succeeding and doubling down investment on those ideas that are actually showing progress and traction like that really matters. So no pet projects? Pet innovation portfolios? Sure. Even pet innovation strategies? Sure. But not a single project because it's impossible to pick the winning idea on day one.