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Innovation at 50x

Steve Blank, the father of Lean Innovation explains how companies and government agencies can innovate at the speed of a startup.

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Aug 16, 2015 • 12 min read
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Disruptive Innovation
Innovation
Lean-Agile Mindset
Lean Thinking
Lean Experimentation
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Summary

Steve Blank, the father of Lean Innovation, explains how companies and government agencies can innovate at the speed of a startup. He adds that innovation development requires a physical activities/place (like hackathons), a methodology (such as lean), pedology (such as lean launchPad/I-Corps), metrics, and funding. He explains that an organization that executes AND innovates is what he calls an "Ambidextrous Organization". Ambidextrous Organizations achieve breakthrough innovations while relentlessly improving the way they execute current business models and service existing customers. Lean Innovation has become a core concept to understand our current business environment.

Takeaways

  • An organization that executes and innovates is called an Ambidextrous organization. It achieves breakthrough innovations while relentlessly improving the way they execute its current business model and serve existing customers.
  • Innovation is the process of satisfying users' current or future wants/needs by turning an idea into a product or service with speed and urgency, using minimal resources and costs.
  • Lean innovation delivers products and services that users want and need in a fraction of time.
  • Steve Blank, the father of Lean Innovation explains how companies and government agencies can innovate at the speed of a startup adding that innovation development requires a physical place like hackathons, a methodology supposedly lean, pedology such as lean launchPad/I-Corps, metrics, and funding.
  • The level of innovation is defined by whether the business model is being executed, extended, or explored and these are the new horizons of innovation.

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