Model #1: Accelerators and Incubators - Innovationedge

The lifespan of business models is shrinking, and companies need to innovate to remain competitive. This article explores five primary model archetypes that embrace the full spectrum of value creation in a digitally-driven, intensely competitive business environment. These include accelerators and incubators, premium, personalized, and service-focused models, platforms and ecosystems, subscription/rental models, and digital/physical omnichannel models. The article elaborates on the accelerator/incubator model, where companies test and launch new business ideas in a short timeframe outside of their everyday activities. This model is gaining momentum in the consumer packaged-goods industry, where many legacy companies have suffered stagnation while being disrupted by entrepreneurs. Companies such as PepsiCo, Procter & Gamble, Mars Inc., Nestlé, and Givaudan are leveraging accelerators and incubators to jumpstart innovation. These models offer a conducive environment for collaboration and experimenting with startup organizational approaches.