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Innovation matrix ORGANIZATION

HUNTER High investment BUILDER


Co-create business Top-down Transform organizations

Innovation
Venture
 Structural 
 Innovation 

transforma-
fund partnership lab
tion

Co-
External Internal Center of
development
accelerator accelerator Excellence
track
External focus

Internal focus
Business first

People first
Co-experi-
External Internal Community of
mentation
incubator incubator practice
track

Co-creation Design Innovation


Scouting
session sprint training

EXPLORER Low investment EXPERIMENTER


Discover connections Bottom-up Spark interest

These organizations focus on the programs of their archetypes, but they invest in a wider range of innovation programs.

About this tool



The Innovation Matrix helps organizations My organization My organization My organization My organization
navigate through different innovation never tried this rarely recurs to frequently recurs frequently recurs to
format this format to this format this format as main
printsize: A3
formats, so that you can make the most of
driver for innovation boardofinnovation.com/tools
your innovation budget.
4 innovation archetypes, 16 formats

HUNTER BUILDER EXPLORER EXPERIMENTER


Co-create business Transform organizations Discover connections Spark interest

Venture capital fund Innovation lab External incubator Internal incubator


A (corporate) venture capital fund An Innovation lab is a separate entity An external incubator is a program to An incubator separates intrapreneurs
invests in external opportunities that that hosts internal ventures with high support the validation of (early outside of the organization to
could create growth outside of the potential before they are profitable. stage) external startups. validate the solution fit of ideas.
core of the organization. Key metrics: Key metrics: Key metrics:
Key metrics: # successful lab ventures 
 # validated start-ups # projects incubated 

# successful ventures # employees in each venture # commercial collaborations # intrapreneurs/teams
# new value created
Co-experimentation track Community of Practice
Structural partnership Innovation transformation A co-experimentation track is a joint A community of practice is a cross-
A structural partnership is a formal The Innovation transformation team test between 2 or more functional group of innovation
collaboration between 2 companies is a central group of innovation organizations to validate the solution ambassadors.
with the aim to launch multiple joint leaders responsible for knowledge fit of an idea. Key metrics:
ventures. development. Key metrics:
 # practitioners/ambassadors
Key metrics: Key metrics: # validated pilots 
 # people impacted
# successful partnerships
 # transformed processes 
 # business synergies
# licensed IP # projects launched
Scouting Design sprint
External accelerator Internal accelerator Scouting startups is a A design sprint is a short track to
An external accelerator is a (physical) A sandbox is a virtual or physical methodological process to identify answer business questions through
environment to support the growth space to grow internal startups relevant startups in your field, designing, prototyping, and testing
and evaluate the value of external outside of the core organization and validate their potential and engage with customers.
Scale-ups. validate the market fit. with their founding members. Key metrics:
Key metrics: Key metrics: Key metrics: # solution created & selected 

# validated scale-ups # validated ventures
 # start-ups scouted # business challenges addressed
# commercial collaborations # intrapreneurs/teams # meetings with founders

Co-development track Center of Excellence Co-creation session Innovation training


A co-development track aims to A center of excellence is a formal A co-creation session is a short A short learning track to grow the
validate the market fit of ventures group of experts , that coordinates ideation with customers or partners knowledge and interest of
created by 2 or more organizations. innovation initiatives, to embed to turn mutual problems into ideas. employees.
Key metrics: innovation in the organization. Key metrics: Key metrics:
# validated ventures 
 Key metrics: # ideas co-created & selected
 # employees trained
# business synergies # innovation experts # business synergies # mature/satisfied participants
# people impacted

Typical Patterns

From Exploring to Hunting From Experimenting to Building Towards co-creation


In this pattern companies move In this pattern companies become Organizations are moving from
upwards on the external side of the more committed on the external side either the left or the right side of the
matrix. They move from simply of the matrix. An organisation moves matrix to the middle. By
discovering connections to from simply having an interest in experimenting they notice that a
meaningfully co-creating business innovation to transforming its completely internal or external
solutions with external actors. internal operations. They do this by approach isn’t a great fit for them,
Interaction with start-ups can act as a for example standardising tools, and they start to balance their
driver here for more commitment knowledge and language. actions and introduce measures that
are located both at the internal and
external side of the matrix.

About this tool



The Innovation Matrix helps organizations
navigate through different innovation
formats, so that you can make the most of
printsize: A3
your innovation budget. boardofinnovation.com/tools