Teams in a large business compete to come up with a relevant, innovative product or service and the winning team gets to choose and help micro finance one innovative business startup in a developing country.
Building on the Toms shoes one for one program.
This concept also links to big companies trying to develop solid innovation strategies.
Teams in a large business compete to come up with a relevant, innovative product or service and the winning team gets to chose and help micro finance one innovative business startup in a developing country.
Competition happens maybe every 3 or 6 months?
Winning team goes overseas with key leads of the project and helps mentor the new business startup, helps document the story and learning and brings it back to share.
Imagine coming back and sharing how your company helped start up a cool business in a developing country and it all started from a competition to come up with a new product or service. That would create a natural interest for an audience to learn more about this new product that started the story. People would share videos about a story like that which means advertising for your brand and new products or services. If you haven't seen the Zack Matere video above, check it out now. Imagine if your company helped Zack start up his business in Kenya and then told the story. The video has gone viral and is inspiring, it is an awesome way to advertise google (who made the vid)... although I don't know why google needs more advertising. ; )
Employees would not only be competing for coming up with an innovative idea, but competing to help out new innovation initiatives in developing countries. Maybe at some point the innovation team and startup in the developing country collaborate and that story is shared too.
Challenges to figure out with this concept that I see so far.
-How will new startups in developing countries be found?
-What businesses already have innovation strategies and think tanks working to come up with products? Selling the idea to them
-Would businesses without an innovation strategy be interested in getting involved like this?
-There would need to be some leadership around coordinating this strategy in a company.
-How often would a company be developing new services or products? This might work well with the tech world because new products and services are needed and arise often.
-Also would need to figure out eligibility of new startups in developing countries for a program like I'm proposing??? What would the criteria be? Who decides?