Incubating Innovation
As innovation has become virtually synonymous with growth, the urgency to innovate has surged. With that has come equal urgency for companies to develop internal innovation capabilities. Everywhere you look these days, thereâs an announcement about another Fortune 500 company launching some form of innovation lab, hub, or incubator. In the U.S. alone, the number of internal innovation incubators has grown from twelve in 1980 to an estimated 7,000 today. Incubating Innovation is one of the major themes in our latest report, Big Entrepreneurship.
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Mark Payne is Global Head of Consumer Products at frog. As Co-Founder and President of leading innovation consultancy Fahrenheit 212, now frog, Part of Capgemini Invent, Mark spearheaded innovation projects that created over $3 billion in revenue for Fortune 500 companies, entrepreneurial emerging businesses, and private equity firms. As the architect of the firmâs Money + Magic philosophy, its outcome-based business model and its breakthrough Two-Sided Innovation Method of fusing analytical commercial strategy with user-centered creativity, he is both a front line innovator shaping new product pipelines for the worldâs great companies, and an industry thought leader.
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