Service We Provide

Design for Innovation,
This Is How We Do It.
Very few institutions have experiences on strategies and practices of Open Innovation in a variety of industries, from manufacturing to service and understand technology and market trends along with the characteristics of start-ups, large businesses and organizations. The Open Innovation methodology of The Invention Lab is a holistic outcome refined through these knowledge, experiences and learning.

Our Methodology

The Invention Lab implements inbound and outbound Open Innovation strategies of companies most systematically and effectively based on the Open Innovation design methodology.
01. Open Innovation
Advisory Service
We provide systematic advice on change management and consulting services throughout the OI Process, including planning of Open Innovation program-suggest methodology-operate-evaluate-follow-up management service

Who Need This

Organizations dedicated to OI and DT of major and midsize corporations

  • Organizations that are willing to carry out PoC by scouting external technology start-up teams
  • Organizations within large corporations that target strategic investment
  • Companies with needs to internalize culture and system of innovative organizations

How We Do It

Provide one-stop OI Advisory Service

  1. OI process workshop to set up the goals, missions and processes of OI
  2. Work with external partners to speed up PoC / PoV testing to validate the business and discover new growth engine
  3. Implement investment options such as strategic investment / co-investment
Our Process

1. Set Goal

Set Goals and Vision of OI
Discuss and decide on the purpose, direction, and intent of the OI
Discuss and decide on methods, scopes and programs

2. Research & Interview

Understand the current situation
Organization, internal workforce

Existing Process

Internal requirements

Corporate culture

3. Set Rule

Structuralize the entire OI Process
Define ground rule

Define program unit rule

Define project, workshop unit rule.

Define methodology, frame, tool

Internal / External means of promotion, propagation methods

4. Pilot

Apply OI Program
(Test) Operate the program.

Learn and apply improvements

5. Internalize

Internalize and turn into asset
Transfer methodology of process operation

Operate education program.

Foster Evangelist

Our Product

OI Mission Workshop

Open Innovation Strategy Development Workshop (4-hour course)

Understand the overall OI process and redefine the OI process for characteristics and purpose of the organization./4-hour workshop with executives and staff of OI supervisors and dedicated organizations
– Establish the OI mission and goals
– Define the role of the dedicated OI organization
– Establish R & R and KPIs with business units to participate in OI

01

concept and methodology of OI

-1 hour-
Explanation on definition of Open Innovation and why it is promoted, its methodology and key activities

02

Define OI missions for the organization

-2 hours-
Define OI goals/vision. Discuss prioritization, considerations and evaluation methods for key OI activities.

03

Establish an optimized OI process

-1 hour-
Redesign the organization’s optimized OI process. Primary identification and determination of all participants
02. In-house Startup
Acceleration
& Market Entrance
We provide optimized outbound open innovation programs for in-house ventures and in-house innovation organizations organized by large and midsize corporations

Who Need This

Department that manages and operates in-house ventures and in-house innovation organizations of large and midsize corporations

  • Operations director of in-house venture program of the corporation
  • Organization that wants to think like an actual start-up and quickly verify business items
  • Company that wants to discover new growth engines and run an innovative organization for the future

How We Do It

Design and operate an optimized outbound OI processes for in-house ventures and in-house innovative organizations to meet their needs

  1. Design OI process that matches the time frame and goals
  2. Provide training through Sprint workshops, expert lectures and mentoring and support planning, developing and analyzing of real apps / products
  3. Operate a performance presentation / demo day program based on MVP that can be actually implemented
Our Process

1. Set Goal

Set goals and vision of OI
Gather requirements

Review market / trends, internal condition

Set domain/field

Set method/ form

2. Explore

Explore and discover OI partners
Research

Interview, meeting

Utilize own DB

Contest

Select a partner

3. Engage & Define

Set goals for each project
Ensure commitment of OI partner
Welcome, Ice Break
Define problem / needs / requirement

Determine the goals and progress of the project

4. Discover

Derive a solution
Derive a solution outline

Solution hypothesis test

Feasibility check

Derive PoC Goal, Scope, Priority

Set schedule, PoC contract

5. Build

Development
Support and proceed development of project for PoC

6. Launch & Learn

PoC test
Design test method

Acquire target of the test

Progress PoC testing
Share results, report
Evaluate project results, learn, identify improvements

7. Spread

Share and spread the results
Report results to business unit/ the management

Demo day

Conference

Promotion materials, images, program

Follow-up decision of the business unit

8. Internalize

internalize, turn results into asset
Foster Evangelists

Set a dedicated CoE organization

Port system and tool

Establish Process and Rule

Operate training and academy

Establish methodologies and frames

Our Product

DX in-house venture program

Program to discover new business idea of innovative organization

Plan and operate lean start-up courses for in-house innovative organizations of large and midsize corporations. Discover items for future and innovate organizational culture
– Workshop to discover and refine ideas
– Coach business strategy
– PoC development and testing
– Demo day

01

Short-term training and workshop

– 8-day course –
Lean startup training. Discover and refine ideas. Create storyboards for MVP

02

Design and operate medium-term program

– 2~3-month course –
Provide the invention kit developed by the Invention Lab, Market/Trend research and item selection, MVP development, Materialize business plan

03

Design and operate long-term program

– 6-month course –
Market/trend research and select item, develop and verify MVP, Operate Demo day, internalize the innovation process
10 in 90 Program
The Invention Lab’s ‘Business Builder for Corporations’ program manages 10 items directly from the initial idea stage, develops, tests, and runs them together in 90 days.
It is matter of systems, not people, that corporations are moving slower than the market even though they have more of outstanding people working for them compared to smaller organizations.
It is advantageous for the body to be light to respond quickly to the market. The reason why corporations find it difficult and are reluctant to promote a new business or are slow at executing it is basically because the decision-making unit is large. In terms of time and resources, large corporations are making only big choices. While they internally repeat research, planning and reporting within for new business, other new products/services already proceed business and learn the market.

It is not possible to create a TF for new business on everything such as items considered that the market is not mature enough yet, items not related to portfolio, items that are extremely ideal and items that are hard to predict whether there will be needs or how much demand there will be. However, to find breakthrough within a few years in unpredictable market conditions, it is important to be interested in such items.

What matters more than quantity is ‘density’. The high concentration of the program helps to spend 90 days like a year.
The Invention Lab’s 10 in 90 is a program supports corporations to quickly validate 10 business items over 90 days by selecting workforce internally to create agile organizations that run for three months. Maximum 10 agile organizations can be operated.

This process is similar to actual start-ups doing concentrated activities for initial market verification. From team building, market/trend research, item selection, concept design, hypothesis establishment, primary verification, MVP development, second verification to business plan presentation, the process is operated intensively in three months.

Each team is managed through an office hour that regularly shares its status to achieve its set goals, and collaborative tools that allow anyone to see the current status transparently. Each team refines the team’s hypothesis, getting advice from entrepreneurs with experience in doing business in the field and listening to feedback from customers and experts

The 10 in 90 program is not just an in-house startup operation program. It is a ‘Business Builder for Corporations’ program that the Invention Lab manages 10 items directly from the initial idea stage, develops, tests and runs them together.

‘Small Team’ is efficient and strong.
The cost of running all 10 items in the existing units would be enormous. Numerous interest groups within the organization will be involved and the idea of who leads the business would become unclear. The time spent would become infinitely long, and every team wouldn’t want to be responsible for the consequences. On the other hand, in case of good opportunities or achievements, every team will be trying to take credit. It would be impossible to know if anyone learned from experiences or mistakes from various failures, and these would not be shared frequently.

Organizations that move fast with their own motivation and authority are definitely powerful.

The 10 in 90 program can be the first clue for a business model transformation that large corporations have kept failing to make. With 10 in 90 program, they can discover the potential for new growth engines and find clues about running an innovative organization for the future. We are confident that those who experience 10 in 90 program will look back on the limitations of existing processes and organizational culture and will become evangelists who support innovation within the company.

Cases
03. Technology Scouting
& Investment
We provide advice on systematic change management and consulting services throughout the OI Process, including planning Open Innovation program- suggesting methodology – operating – evaluating – follow up management service.

Who Need This

Organizations dedicated to DT/ OI of large and midsize corporations, Organizations planning M & A and new business

  • Organizations that want to discover, select, and collaborate with startups that are highly relevant to business models
  • Organizations that want to collaborate with external innovative companies to promote new business
  • Organizations that require deal sourcing of technology start-ups for strategic investment

How We Do It

Design and operate deal scouting and inbound programs

  • Investigation, analysis, and deal scouting of domestic and overseas technology / service start-ups by utilizing the start-up DB registered in our own cloud system and affiliate channels
  • Joint development operations and joint seed investments with external innovative organizations (start-ups and global corporations)
Our Process

1. Set Goal

Set investment goals and vision
Establish target / field / area of ​​initial investment

Establish objective / goal of initial investment

Identify key industry / technical areas that meet objective / goal

2. Explore

Explore and discover investment companies
Identify OI partners and companies for initial investment

Utilize / search DB of internal / external start-up

Set the first long list
Identify information of individual companies

(History / key business area / core technology / history of investment)

3. Discover

Select candidate companies
Select final investment candidates for actual Due Diligence

Select the Short List company

Visit and interview with each individual company
Evaluate suitability with client company
Screen final investment candidates

4. Internalize

Confirm and execute the investment
Confirm and execute the investment

Hold internal Closed IR

Final confirmation of investment company
Evaluate the corporate value and write report
Execute investment (Our joint investment)
Follow-up management
Our Product

Deal scouting

Technology Scouting & Investment

Discover and inspect the actual domestic and overseas startups at the request of Large/mid-sized group companies. Evaluate enterprise value. Seed invest
– Internal startup DB sensing and external affiliate startup DB sensing
– Select startups for final due diligence. Host Closed IR Day
– Evaluate enterprise value
– Investment execution (joint seed investment) and ex post facto management

Inbound OI program

Startup acceleration based on cloud sourcing

Seek external innovative start-ups through program competitions and joint seed invest
– Design program concepts and operation plans
– Identify start-ups and operate the entire program
– Joint seed invest
– Demo day

JDP(Joint Development Program)

JDP (Joint Development Program) operation support program

Operate and support joint development with external innovative organizations (start-ups and global corporations)
– Define the role of the dedicated organization and establish processes
– Research OI partners and trend
– Define requirements and derive solution outlines with OI Canvas
– Support PoC progress and joint seed invest
Cases