Challenges, Risks and Opportunities

From NZ Playbook
Jump to: navigation, search
Top 5 Challenges Top 5 Risks Top 5 Opportunities
Corporates
  • Lack of innovation culture - fear of being disrupted before they can act
  • Changing priorities within corporate
  • Activating and prioritising resources - people and money
  • Defining a lean approach to activating the engagement
  • Personal risk vs career risk
  • Leap of faith needed to embrace startups without a track record
Corporates
  • Business innovation is not seen as a strategic imperative
  • Lack of urgency and speed in decision making around the ‘new’ vs ‘today’
  • Lack of internal alignment at senior level
  • Alignment of Corporate/Startup visions and values
  • Wasted opportunities - “we miss something”
  • Lack of upfront transparency to aid understanding of compliance requirements and other necessary information
Corporates
  • Sourcing talent - introducing fresh thinking and new ways of working together
  • Solving problems faster and cheaper
  • Ability to co-create common tools and processes
  • Being relevant - working on solutions to solve real problems

Grow through projects - adopt a startup ‘test and learn’ approach

Startups
  • Corporates are highly risk-averse
  • Lack of transparency as to the corporate’s strategy and objectives
  • Knowing what and who is available within the organisational innovation ecosystem
  • Speed of corporate decision-making
  • Being relevant - knowing you are working on a real problem they have
Startups
  • Lack of documentation and internal processes to meet corporates needs
  • Burning lots of money before confirmed engagement
  • Corporate’s lack of transparency around strategy and objectives
  • Alignment of Corporate/Startup visions and values
  • Personal reputation risk
Startups
  • Knowing what and who is available to connect at the right level
  • Designing a lean approach to activating the engagement
  • Creating a set of common tools and processes
  • Utilising NZ innovation ecosystem to test ideas before going global
  • Being relevant - working on solutions to solve real problems

FACILITATOR COMMENTARY Free-flowing discussions led to commitment to using the challenges, risk and opportunities to design new ways of engaging and working together. There was recognition of each other’s strengths and issues - time/speed, money, resources. A number of opportunities to co-create a common ‘working together plan’, were discussed with tangible tools and resources identified. There was also a an understanding that relationship development across the ecosystem is key, so connections and ongoing conversations were seen as important.