In corporate life, innovation thrives in an environment encouraging creativity and calculated risk-taking.

ProofofConcept (PoC) projects can be a valuable tool to mitigate some of the risks associated with innovation. (How PoCs Help Businesses Unlock Startup Potential)

We've been designing and managing PoC projects and keeping track of the data produced by corporations and startups during their Proof-of-Concept (PoC) processes.

Below is a sample PoC tracking screenshot with anonymized information from a 2021 PoC report we submitted to a corporation.

The example above is a report extracted from the PoC tracking tool. 

Green boxes represent completed tasks within the current Proof-of-Concept (PoC) cycle and white boxes show the steps not completed yet. 

Each green box contains documents and different records of the process. 

We can go back to the project years later and identify problems that occurred, and what were the conditions and outputs, and we can access email records.

While developing the PoC tracking tool, we realized that we could create value for organizations in three areas.

- Developing new product-service collaborations with startups, identifying corporate innovation bottlenecks

- Conducting and reporting PoC projects supporting in-house venture development 

- Investment evaluation for corporate venture capitals that value analyzing startup PoC outcomes

Initially, capturing this detailed data allowed us to communicate progress to both startups and corporations involved in the PoC.

The growth of PoCs has not only expanded our data collection but also honed our ability to analyze interactions between startups and organizations.

Our meticulous PoC tracking, evident in the anonymized screenshot (above), yields invaluable data. By monitoring these interactions, we can objectively pinpoint innovation bottlenecks and provide actionable solutions. (5 Ways To Break Through Innovation Bottlenecks)

This data serves as a powerful corporate memory.

Even with employee turnover or evolving needs,  we can revisit projects from three years ago, accessing email records, past problems, and project outcomes. These insights are a goldmine for improving business intelligence and future innovation strategies.

Investing in a robust corporate memory, just like we have, empowers organizations to learn from their experiences and make data-driven decisions that fuel continuous improvement.

Today, we can go back 3 years and access email records, what we did in which project, what problems occurred, and what the conditions and outputs were. (Harness Corporate Memory and Collective Intelligence for productivity)

Proof-of-concept (PoC) goes beyond a simple sales activity. 

It's not just about immediately integrating the startup's solution into the core business.  More importantly, it's a valuable opportunity for experimentation and learning, providing a wealth of business intelligence.

The PoC process generates key learnings that validate the potential value of a new technology or business model for both the startup and the corporation.

Defining the goals of the PoC upfront is crucial to properly evaluate the learning outcomes. 

By using measurable metrics and data-driven tracking,  the risks associated with corporate innovation become quantifiable and manageable.

Aligning with Facts and Culture

Innovation thrives at the intersection of strategy and technology.

However, the critical bridge that unlocks their true potential is a strong innovation culture.

Developing our PoC tracking tool wasn't just about creating a tool; it was about creating strategic value for corporations.

While the tool itself offered valuable insights, it was the startups that truly leveraged this strategic value by embracing a culture of innovation. (The B2B Startup Commercialization Challenges and Tips)

Here's why innovation culture matters.... 

Corporations excel at large-scale production and customer delivery. Their emphasis lies on efficiency and stable, low-risk processes.

Recognizing and adopting risky innovations isn't always part of their core culture, and forcing cultural shifts can be counterproductive.

The key lies in working within the existing framework. By demonstrating value through Proof-of-Concept (PoC) projects, startups can bridge the gap. PoCs validate a new technology or business model's impact in a short timeframe and with minimal investment, making them a win-win for both parties. (Fast track to product 1.0 and product market fit via effective PoC projects)

We will continue our work supporting corporations to perform PoC projects. Meanwhile, we're starting to see CVCs become more interested in evaluating PoC data.

Now, we have also developed an approach that allows us to work with startups that want to leverage PoC strategy.

Workinlot facilitates engagement between corporations & PoC-validated startups, driving innovation and investment opportunities.

 For corporate-startup collaboration projects, we offer services ranging from engagement design to project implementation with our curated methodologies and expertise.

 This transfer of know-how has enabled companies to establish corporate venture capitals, open innovation platforms, and venture builder structures with greater learning.

 Let's connect and identify collaboration opportunities.