Why is Corporate Innovation More Important Than Ever?
According to Harvard Business Research, the number of corporate investments in startups tripled from 980 in 2013 to 2,795 in 2018, with their total value growing from $19 to $180 billion. Today, 75% of Fortune 100 companies have an internal venture capital department designed specifically for sourcing and development.
The rate of technological innovation has become exponential.
6 Ways to Get Started With Corporate Innovation
8 Key Pillars of Innovation Management
Where Managers Can Source Innovation
In 1960, the average lifespan of a company on the S&P 500 Index was almost 60 years. In the fast-paced digital landscape, the average age of companies listed on the stock exchange is under 20 years old.
The message for C-suite members in big corporations is loud and clear: "Innovate and disrupt your own business model or somebody else will."