INNOVATIVE MINDS #13
Innovation is a CEO mandate
In the past 25 years, the vast majority of groundbreaking innovations were delivered by startups. The economic risk for an enterprise getting disrupted is substantial.
- It takes on average 5 to 10 years from innovation opportunity discovery to successful scaling in the market. Only a CEO and the board can decide to engage in a long-term innovation strategy.
- It takes more than $1 Billion to bring an innovation to market. The vast majority of the investment is consumed during the execution phase. Only a CEO and the board can decide on investments of that magnitude.
- Innovation is about brilliant ideation and relentless execution. The innovation team competes with the most innovative minds. Such a team must not only create an idea but also bring it to market. Such an internal structure can only be decided by the CEO.
- Innovation is no longer about cool products or services. It’s about the market cap of a company. The number of highly potent market entries like Tesla in the automotive industry, Booking.com in the touristic industry, UpWork in the HR business, or Airbnb in the hospitality industry, to name just a few change their entire industry segment and make former leaders to followers. Only the CEO can navigate an enterprise through those new competitions.
Axel Schultze, CEO, and Founder of BlueCallom will discuss what enterprise leaders can do to move from an improvement paradigm to an innovation paradigm and avoid getting disruption through others. Also, he explores how to upskill your teams and what a professional innovation team needs to do and know to deliver groundbreaking innovation? Moreover, what does the executive bench need to know about capital requirements, market preparation, and organizational adjustments to become genuinely innovative?
Innovation is rarely just a new product; it is always connected to different experiences, business models, and customer interaction models.
CEO and Founder of BlueCallom Corp.
Axel Schultze, founder and CEO of BlueCallom Corp, and Chairman of the World Innovations Forum Foundation, lived the majority of his business life in Silicon Valley. Between 2016 and 2020 he was on a quest to find out how the brain is creating and processing ideas and how some of those ideas could become disruptive to an entire industry segment. After learning about the latest discoveries from the neuroscience space he formed the “Deep Innovation Design Model” and developed methods and tools to make innovation a repeatable process.
Before that, Axel Schultze started and successfully exited 4 companies, the biggest reaching $5 Billion in revenue, the second close to $1 Billion. Axel is a published author, patent holder, 2015 listed in the global 100 most influential startup accelerators, 2008 won the SF Entrepreneur Award, 2006 chaired the SaaS Channel Committee at the SIIA, 2003 early adviser of LinkedIn.