The Innovation Challenge
Innovation is widely lauded as the key to economic growth, but typically early-stage interventions backed by both public and private sector funding result in low Impact and poor Return-on-Investment (ROI).
If innovation was not hard enough, 2022 is presenting a challenging macro economic environment: start-ups and scale-ups are laying off staff globally, Tech companies are preforming poorly on public markets, and there is a reduction in available venture funding.
How then can Intervention Agencies deliver effective growth initiatives and interventions for early-stage companies in an increasingly difficult macro economic environment?
We help our customers tackle the challenge of translating ideas into commercial, social and environmental impact.
Many of the existing approaches look at the challenge with a blinkered perspective. These different approaches including entrepreneurship, technology management and investor-centric perspectives each add something useful but only provide a partial view of how to intervene on the commercialisation journey.
By comparison, the Triple Chasm Model (TCM) provides a holistic data-driven approach that is based on profiling the following:
The commercialisation maturity of the product / service – Commercialisation Readiness Level (CRL)
The key considerations at each stage along the commercialisation journey – the 12 Meso-economic Vectors
Understanding the Gap in these factors between the present and the next strategic goal.
This enables us to provide a range of products and services, based on the TCM, to tackle specific challenges for the different players in the intervention eco-system including:
Intervention Agencies (TTOs, Accelerators etc) need to design and deliver programmes that accurately select the target start-ups and provide the desired impact.
Investors need to identify target investees as efficient and accurately as possible, provide appropriate support and priorities follow-on investment in growing portfolios.
SMEs themselves need tools which enable them to decide which ideas to commercialise, benchmark their progress, decide the next strategic steps and how to fund them.
The Triple Chasm Model was originally built on insights and data gathered from more than 3000 global companies in Phase 1 of our research. This work spawned two books written by two of our co-founders, and enabled us to define commercialisation maturity (Commercialisation Readiness Level) and identify the 12 drivers of growth (Meso-economic Vectors). It also led to the development of a comprehensive set of intervention tools, which we implement in your organisation via our trained facilitators and mentors via our Triple Chasm Academies.
To learn more, visit the Research Hub, watch our Introductory video series, download the white paper, take our self paced online training course, or view our infographic. You'll find more content in our Resources section, and you can read numerous innovation articles on our blog.