Innovation maturity model: Here’s what you need to know

Innovation is key to an organization's growth, with at least half of growth attributed to innovation projects initiated. Innovation maturity models guide organizations through their development phase through a step-by-step process. The innovation maturity model is based on Gartner's maturity model for innovation management, and it educates organizations on the levels of innovation management needed to succeed. The innovation maturity level is closely related to the innovation framework, which shows how to implement a sustainable innovation system within an organization. There are four levels of innovation maturity - initiated, defined, managed, and optimized. Learning about each level helps determine where an organization currently stands and what development steps to take to raise its maturity level. To improve innovation maturity, organizations need to evaluate their current level, determine where they want to go, identify gaps, and create an action plan to improve.