Today the word innovation is used extensively in the business world and it is accepted that innovation is about doing something new, that has a positive effect, and delivers improvements to a business in terms of cost savings or increased value.
Some of the world’s greatest innovative ideas and solutions appear obvious after the fact and yet they were not thought of beforehand. The challenge for companies is to adopt an approach or culture that facilitates innovation and apply innovation to the business to achieve continuous improvements in performance.
But what does it mean to have an innovate company and how do you embed a culture of innovation in your business?
Enterprise Ireland Applied Innovation Assignments
Enterprise Ireland’s Applied Innovation team works with companies to highlight the significant role that business innovation can play in keeping ahead of the competition. Applied Innovation is about adopting a structured approach to developing the right mind-set and learning the best practices and management tools that foster innovation. Developing the right mind-set involves;
- seeing the value of innovation to business success,
- developing a balanced view on what innovation is (and is not), and
- appreciating the roles of leadership and culture on building and sustaining innovation capability in your company.
We have developed an approach that will assist companies in improving their innovative capacity by ensuring that they have the capability to;
- identify and evaluate the “best” business opportunities,
- develop related product or service solutions quickly, cost effectively and right first time, and
- collaborate effectively to achieve the above.
There are different players associated with innovation. There is the “innovator” (who), the “innovation” (what) and the “process of innovating” (how). In essence, an Applied Innovation Assignment deals with a key issue for many companies in that they may often know what to do, but not how to do it.
What is involved in an Applied Innovation Assignment?
- The process begins with a strategic conversation with the company's senior management team about their business objectives in the context of creating value, capturing it and organising the company’s resources to deliver it.
- The discussion then focuses on the role innovation can play in the achievement of the company’s business objectives. The capability of the company to deliver the required innovation performance is evaluated.
- This evaluation provides the basis for an action plan to close the gap between the identified innovation capability and what is required to achieve the business objectives.
- Closing the innovation performance capability gap involves changes in culture and leadership to bring about the mindset that is needed to innovate successfully.
- The innovation performance capability is brought to the appropriate level through project based team learning of practices and tools through a series of connected workshops (three to six) phased over a period of about one year.
- Between workshops, companies apply the structured learning of practices and tools to the process of developing their ideas and taking them to the market place.
Key impacts
One of the main impacts of embarking on an Applied Innovation Assignment is that it brings structure to how innovation is carried out in a company. Research has shown that a tenfold increase in innovation performance can be associated with the competent application of a structured approach.
The importance of innovation in building and sustaining companies that can compete successfully in international markets is well accepted. It follows that improving innovation performance is essential to getting the most from the value created in those markets.
A further impact is that the culture of innovation developed through an Applied Innovation Assignment is self-sustaining and companies can build on this to grow export sales on an ongoing basis.
What companies are eligible?
Enterprise Ireland client companies who want to improve innovation performance are eligible to apply for an Applied Innovation Assignment.
Companies supported by the IDA and Údarás na Gaeltachta are also eligible.
Is there funding available?
The time of experienced Enterprise Ireland technology and innovation management specialists is available free of charge. Depending on the amount of work involved in any one assignment, external consultants may have to be involved and in such cases, there will be a cost related to this.
How do I apply?
There is no formal application procedure. Companies interested in carrying out an Applied Innovation assignment should contact their Development Adviser.
For general enquiries about the Applied Innovation programme, contact:
Eddie Commins
Applied Innovation Department
Enterprise Ireland
 | Eddie Commins |