Corporate Startup Principles For Building Innovation Ecosystems -

Innovation is crucial for large established companies because of the threat of disruption from startups and the ever-changing technology landscape. However, building internal innovation ecosystems with products at different stages of their lives is a better strategy than trying to act like startups. The five principles for building corporate innovation ecosystems are an Innovation Thesis, Innovation Portfolio, Innovation Framework, Innovation Accounting, and Innovation Practice. The first two principles focus on innovation strategy, the next two on innovation management, and the last one is where companies interact with customers and validate business models.