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Adding Start-Up and Entrepreneurial Ecosystem to the Integrated Business Ecosystem Model

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Including Start-up and Entrepreneurial Ecosystems into the Interconnected Business Framework, makes it more comprehensive and reflective of the full spectrum of business activities. It can enable how ideas flow from innovation through entrepreneurship and into established business practices, and how larger businesses can engage with and benefit from entrepreneurial energy.

This inclusive approach would make the framework more robust and applicable across a wider range of organizations and scenarios, from nascent start-ups to multinational corporations, while still allowing for specific focus on entrepreneurial challenges when needed.

Entrepreneurial or Start-up Ecosystems: Let me explain their role in supporting startups and new ventures, driving economic growth and innovation. Each has its own unique characteristics and focus.

Let’s define this ecosystem:

The Entrepreneurial or Start-up Ecosystem, while sharing some similarities with Innovation Ecosystems, is distinct in its focus on new venture creation and the specific needs of early-stage companies. It intersects with other ecosystem types but maintains a unique identity due to its emphasis on entrepreneurship, risk-taking, and the particular challenges faced by new ventures.

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Are you thinking about Innovation Ecosystems? You Should

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image: www.complexitygraphics.com

All around us, we are faced with new challenges. One of those is a profound shift taking place relating to innovation. Increasingly we are seeing a growing dissatisfaction on the impact that innovation is having; in growth, in returns, in market and customer impact.

One of the implications is this growing recognition that innovation is rarely succeeding in isolation but is growing on a more highly dependent type of complementary innovation. This will have a significant impact on organizations innovation management design and approach.

Innovation ecosystems are being established that fundamentally are challenging the way we are managing currently and in the future our innovation activities, setting about our innovating of “doing things” in very radically different and more connected ways.

These are threatening to dismantle the way innovation is being managed today, and due to this, we require a radical adjustment in our approaches to achieve a far more collaborative one built on innovation ecosystem thinking.

So what is this change occurring for us to consider the value of Innovation Ecosystems? Making the case.

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Innovation is simply not working anymore.

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connecting-ecosystem-1We seem to be facing a major crossing-over point in innovation. We can either switch tracks and allow innovation to go on the slower line that continues to stop at all stations, picking up and dropping off, steadily working towards its final goal of “incremental delivery” or, we can decide to keep innovation on the fast track, picking up momentum because we need to treat innovation as ‘core’, essential and needed, to be delivering the growth engine our organizations are requiring today.

Let’s face it, innovation isn’t working successfully for many companies for a variety of reasons.  We are faced today with a changing market. The customer is demanding and their expectations are changing, industry lines are blurring, there are disruptive forces constantly at work 24×7 and even the constant steady drip of new business models are simply not working as well as they should be, so as to gain that elusive growth.

Some speak of VUCA used is an acronym to describe or reflect the volatility, uncertainty, complexity, and ambiguity of general conditions and situations we all seem to have become caught up in.

Yet these are all symptoms of a larger problem that innovation is simply not addressing and this is why this growing dissatisfaction on the delivery of innovation solutions is occurring. We are not recognizing the changes occurring but more importantly the opportunities that can be grasped by thinking in different ways. We have many of the solutions right in front of us if we care to look, to understand them and make all the necessary connections and ready ourselves for a change.

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