When a company launches an innovation program, what they’re trying to say is, “We are a creative organization that wants to foster and support creative stuff.” But the big question is, are they set up to succeed in making that statement a reality? Six key points on supporting, rather than smothering, the creative sparks at your organization, from Julia Austin, the former vice president of innovation at VMware.
At the cloud and virtualization giant, more than 60 ideas have been presented over the last year-and-a-half, in areas like R&D, customer service, and field sales. A handful have gotten seed funding so far, and one recently moved on to second-stage funding. Employees who participate get a stake in their venture — and also must accept some risk.