CB Insights – Have you heard of them?
If you’re in the technology or business world and haven’t heard of CB Insights, you should have and I’m not sure where you’ve been (I mean that in a really nice Canadian way). CB Insights presents itself as the new tech market intelligence company. What’s their philosophy you ask? “At CB Insights, we believe that using facts over feelings is key to answering your most complex, strategic business questions.” Why would we operate any other way if we had a choice?
CB Insights just released their 2018 State of Innovation report and for all of you working within large enterprises, this should resonate (at least for most of you). It should also give startup founders and employees a great deal of hope. You founders are the leaders of the nimble and agile companies ready to eat the enterprises’ lunch.
For those of you that don’t want to read the 31 page PDF slide deck, I’ll post my biased summary.
- The state of innovation within large corporations is the same in 2018 as it was in 2017 – Slow. Only 9% of companies can bring a product to market in less than six months, 60% longer than a year.
- Even though large enterprises are slow, they still want to build it themselves (51% build)
- Even the best companies don’t think they do innovation well, as measured by their own feedback
- Innovation requires a high-risk appetite
- High performing companies invest in disruptive projects, others might talk the game, but invest in small innovation, if anything
There’s the slide deck in five bullets. CB Insight’s commentary and marketing is better and is worth the read.
Let’s engage in a little conversation here. How’s innovation shaping up in your organization? Is your company tackling large innovations or sticking to incremental improvements? Have you had success partnering with other companies to drive innovation faster? I’ve just completed some research into the startup community here in Calgary and would love to hear about first-hand experiences with innovation within the enterprise!
