Strange world of coincidences we live in….
This morning, my partner at Crosswaves Ventures emailed me asking about a software company he came across, www.hypeinnovation.com and strategic fit for our Crosswaves solution portfolio. Having spoken at length with a few companies in this space over the past 10 years or so (e.g. www.inventionmachine.com, www.yet2.com, www.innocentive.com), my response was:
“There are a few vendors in this space, some with software only, some with a BPO offering around innovation. The take-up has been relatively slow for the space overall since these offerings tend to fit into a cultural focus on innovation rather than an ad hoc approach.
Heavily product-focused companies where innovation is typically more branding will use this type SW (e.g. Procter-Gamble comes to mind). The innovative industry players may dip their toe in the water with these solutions since there is already so much innovation happening (e.g. Cisco comes to mind). Then there are the middle-of-the-road companies where innovation can make a bigger difference but the question then is, what is their true innovation differentiation? If service or integration (e.g. Starbucks, Nordstrom, Raytheon, etc.), not sure how much these products fit into services innovation although may help in integration more…not too sure on this middle layer.