We created the model for a corporation and a technology development zone which wanted to launch an innovation ecosystem. Of course there are nuances in the details of each design. More precisely, the objects that are to be placed in the structure vary. However the structure is common. This structure is what we call the Workinlot Ecosystem Model.
"Workinlot Ecosystem Model is a graphical display of the ideal design of an innovation ecosystem, showcasing objectives, innovation stakeholders and engagement models."
We can group the design elements in a few categories:
Focus Areas
Focus areas of the ecosystem define why the ecosystem exists in the first place. If we are talking about an innovation ecosystem, we can find the focus areas if go just one level down: New Technologies and/or New Business Models.
Stakeholders
We define stakeholders by business or individual segments which need to play an active role in the ecosystem. Prioritization of these segments depend on design criteria, yet the most essential ones are as below:
- Academy & Researchers
- Technology Companies performing R&D
- Technology Startups matching technology with new business models
- Corporations which create demand from and support the innovation ecosystem
- Investors who provide the venture capital to drive innovation
- Marketplace Users who join the ecosystem as followers
Programs
An ecosystem has to actively create and distribute value to all stakeholders in order to thrive and grow. Such activities are clustered and managed by programs. Programs also define process, governance and organization requirements. The fundamental programs that must exist are geared towards building awareness, developing and attracting talent and development of innovation.
Campus
Unless we are talking about a 100% metaverse or Web3 focused ecosystem, physical space is required to manage some milestones of programs and support interactions between stakeholders. This space not only provides for basic housing and service needs of the stakeholders, but also acts as the sandboxes required to develop innovations.
Digital Platform
It may become impossible to manage an ecosystem as it grows with just program governance measures in place. Programs can become silos with no communication in between, stakeholders can become dormant users with no interactions. A digital platform helps with the management of information, communication and collaboration, links the ecosystem to the outside world (marketplace) and provides specific tools for individual stakeholder needs. For example, investors can use the platform to manage their deal portfolio, corporation can receive matchmaking support etc.
The ideal ecosystem creates and distributes value with 2 focus areas. 3 layers of engagement and 6 stakeholder segments
At Workinlot we design process frameworks that enable companies to collaborate with technology firms and startups. To ensure these designs are optimally developed, we provide iterative project management support in partnership with the organization.
Through this collaborative and iterative knowledge transfer, we have helped establish corporate venture capital funds, open innovation platforms, and venture builder structures.
Let's connect and collaborate to identify and validate new opportunities.