Key ingredients for a viable innovation team include:
- People. Who is the idea owner? What skills are needed to take the idea to the next maturity level? What is the smallest team required to do so?
- Idea. What is it about and who is it for? What's valuable about it? How would it contribute to the organisation's strategy and ambitions?
- Common goal. What should these people do with that specific idea? What's the desired result? What's the envisioned time frame?
- Timing. What would be the signs that the timing is right? How would we know that? What should we do if the time isn't right?
- Funding. What are the minimum resource requirements to achieve the above? What's the smallest step that could be funded right now? Who would be the most fitting investor?
There is little sense in proceeding forward unless the above have been answered.
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