Audax Innovation / Interventions
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Implement an Innovation Center
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This intervention aims to plan the addition of resources dedicated to innovation as well as the investments in infrastructure, to favour acceptance and to support the implementation of an innovation center. The implementation of an innovation center aims to increase the contribution of innovation to the business objectives.
Objectives
- Prepare a business case to present the infrastructure needs for innovating.
- Obtain financing from the head office, banks and governments to increase the innovation capacity.
- Train and coach the innovation team while implementing previously defined measures and processes.
Deliverables
- Five workshops to capture the innovation team’s needs and develop the scenarios.
- An optimization of the innovation processes and tools.
- A comprehensive business case exposing the needs and detailing the proposed solution.
Intervention Methodology
The innovation strategy frames the business case: context, ambition, programs, resources, ecosystem, intellectual property, infrastructure and financing. Process optimization follows the chain from the front end of innovation through to launch, then implementation deploys resources, infrastructure and processes.
From business case to implementation: three phases over 8 to 24 months.
Detailed Intervention Description
Three phases over 8 to 24 months. Expand each phase to see its activities, schedule and budget.
Phase 1 — Planning and Business Case (Months 0–4)
Facilitate three one-day workshops to
- Capture the needs and identify the scenarios
- Plan the facility and equipment needed
- Plan the human resources needed
- Review the business model for new products
- Ongoing project management
Phase Subtotal$36,000
Phase 2 — Process Optimization and Business Case Revision (Months 4–8)
Facilitate two 2-day workshops to
- Structure the front end of innovation
- Support the business case and the approval of the financials
- Support in getting a temporary facility
- Support the management of human resources
- Innovate the business model for new products
- Ongoing project management
Phase Subtotal$9,000
Phase 3 — Implementation (Months 8–24 — optional)
- Support the team in carrying out the business case
- Train the team on the innovation processes
- Coach the innovation team in the implementation of the processes
- Ongoing project management
Phase SubtotalNot budgeted
Total Budget
$45,000+
Phase 3 is optional and is not included in the stated budget.
Accountability for obtaining the funds rests with the organization. Audax Innovation commits to providing the material to support this process.
Travel expenses, to be assessed according to your location, may be added to the budget.
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