A global manufacturer created a multi-billion-dollar business model incubator to innovate new ways to sell its products and services.
A multinational Fortune 100 company was trying to drive disruptive growth for its healthcare business, with special attention to its medical equipment products and related services. In order to find new markets and large opportunities, it decided to take the daring step of creating a Business Model Incubator (BMI) to help drive its growth rates. This new BMI would have to be a small and flexible organization separate from the core business. A significant investment, its deep and broad mission would be to invent new ways to do business and to reposition the business in the changing healthcare ecosystem.
Our team helped define a brand new vision for the BMI and develop the strategy, design and development operating models it would need to get results. We analyzed the changes in the healthcare ecosystem including consumer and B2B, looking at everything from employer health plans and new types of consumer demand to Big Data analytics initiatives that could yield new insights into the best routes for new businesses to take. And we also applied Silicon Valley lean start-up principles to bring ideas to conclusion rapidly. These low cost and nimble processes helped teams learn and pivot their innovation strategies quickly.
Today the Business Model Incubator is hitting on all cylinders. Its venture fund has a full
investment portfolio, with some start-ups enjoying joint development partnerships, and the
incubator is engaging groups and businesses within and outside the corporation. Although the
BMI has a time horizon out to seven years, we’ve already seen indications of early success.
Today the BMI has the credibility it needs to forge ahead and the acceptance of the marketers it works with. In a short time it has become one of the company’s most significant investments in its future.
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