Building an Effective Innovation Incubator / Accelerator: A New Approach

Incubators and accelerators are often sought after by corporate leaders seeking to give innovative ideas the resources, tools, and structure needed to succeed. However, many times these efforts are seen as an admission that the corporate culture is not open to new ideas. While there are many steps an organization can take to improve success rates, the article focuses on the value employee networks provide. Members of employee innovation networks can help with the early stages of idea development, act as subject matter experts during incubation, and champion ideas when launched back into the organization. A senior leadership incubator steering committee can also be established to better understand the ideas being developed and act as sponsors.