LEAN ENTERPRISE HOW BIG COMPANIES CAN INNOVATE LIKE STARTUPS

ADRIAN TAN@iadriantaniadriantan@gmail.comsg.linkedin/in/iadriantan

Introduction

● Entrepreneur-in-Residence● 5 Years in Technology● 6 Years in Education● Founded 2 startups, 1 failed.● Coach to hundreds of startups in Asia● Founder Institute/ JFDI Alumni

About You

STARTUPS

CORPORATE OTHERS

Outline● Big companies are disrupted by startups

● Startups are innovating fast using agile methodologies

● Southeast Asia has opportunities and yet interesting challenges

● How big companies can learn from startups

● Different models of innovation in Singapore

● How a corporate individual can innovate in a big company

DISRUPTION

DISRUPTION

Which one of these companies are worth $70 Billion?

VS

WHY ARE STARTUPS IMPORTANT?

Responsible for all NET job Creation in the U.S.http://www.kauffman.org/what-we-do/resources/entrepreneurship-policy-digest/the-importance-of-young-firms-for-economic-growth

Where are they now?

Startup Tools

Startup Methodologies

LEAN STARTUP

Big Company

CentralizedResearch & Development

WATERFALL DEVELOPMENT

Southeast AsiaOpportunities & Challenges

Source: OECD

Disruption

How can we innovate new products and services for a diverse Southeast

Asia?

How Big Companies Innovate

Research Centre

Business Unit A

Business Unit B

Business Unit C

Which Business Unit? Who is the customer?

New Product/Service already defined through

traditional BU

Skunkworks styleAway from Customer

Lack of Feedback

FormsSteering

Committee

1 year 1 year

20 signatures later

Sunk Cost BiasCannot fire team

How Big Companies can Innovate like Startups

INNOVATION

PEOPLE PROCESS PRODUCT

Startups Big CompaniesFresh ideasRejuvenate corporate cultureScout and Test new technologies

COLLABORATE

Gain market knowledgeDiscover industry paint pointsEconomies of ScaleGain distribution

Startups Big CompaniesWhy should I work with those inexperienced young kids in t-shirts?

They don’t even make money?

How do they know the decision they are making is correct?

THERE ARE MISTAKES ON THEIR POWERPOINT SLIDES!!!!

COLLABORATE

Why will I want to help the big fat ugly enemy?

Why should they help me?

They are so slow in making decisions!

They are spending too much time on powerpoint slides!

CHALLENGES

PEOPLE

PROCESS

PRODUCT

TYPES OF COMPANIES

Awareness of Disruption

E.g. TELCOS CAR COMPANIESMEDIA BANKS

*Disclaimer: Adrian’s Working Slide

Hackathons

Innovation Labs

Corporate Accelerator

Corporate Venturing (Investment)

Acqui-Hiring

Space Sharing with Startups

Partnerships

Source: Nesta.org.uk ,ff.co, StartupEuropePartnership.eu

Corporate InnovationExamples

● Media Investment arm● Partners for B2C growth

companies, especially in the consumer goods,

● Offers TV advertising as platform

● 25K EUR Funding● 500K EUR of

media volume on TV

Corporate Innovation inSingapore

BANKS

Buying a bank such as Standard Chartered “is fighting yesterday’s battle.”

“I think the battleground right now is Alibaba and digital,” he said.

DBS CEO, Piyush Gupta

Banks

Hackathons

Innovation Labs

Accelerator Programs

And Others...

Innovate as a Corporate Individual

INNOVATION

PEOPLE PROCESS PRODUCT

● Creating Buy-In ○ Senior

management○ Middle Managers

● Emotional appeal beyond powerpoint slides

○ Accelerator visits, Start-up events

● Minimal Viable Process○ Getting small wins

● Intrapreneurship project● Mentoring a startup● External Acceleration

Questions?

ADRIAN TAN@iadriantaniadriantan@gmail.com