Issues and Challenges
Two thirds of chief executives agree that Innovation is a competitive necessity for their organization. A survey also points that companies that target aggressive growth are targeting higher innovations and are twice likely to achieve breakthrough innovations. That said, how do you go about nurturing creativity, generate ideas, collaborate, manage ideas, assess commercialization potential and then drive product, process and service innovations. Execution of strategic business objectives and managing strategic risks is another strategic imperative.
VajraSoft Inc., Innovation Center of Excellence solution helps you achieve these goals, drive profitable business growth and add value.
IPMation offers you service based business model to transform your "head count" based organization to outcomes delivered" based high throughput, high value organization. Doing more with less in constantly changing market dynamics is strategic imperative. The service driven model quickly positions your organization to identify new opportunities and execute them to create value. For example, by leveraging the technology landscape intelligence and competitive intelligence, you can identify emerging trends & opportunities and detect threats. This approach empowers you to formulate and execute well defined innovation strategy as well as managing strategic risks. So, the value and scope are obvious.
There is a direct correlation between excellence in innovation and superior revenue growth. So, the objective of creating Innovation center of excellence.
Vajra Innovation Center of Excellence
Making the Business Case: Why your organization needs Innovation Center of Excellence?
By leveraging innovation, you are making a commitment to organization to drive business growth. The centralized knowledge based and intelligence driven approach drives faster value. One of the key gain is that you are embedding continuous innovation culture, mindset across the organization and in turn drive value and adaptively cater to market requirements.
The Innovation Center of Excellence provides automation of key processes, - Technology transfer, IP commercialization process automation; centralized body of knowledge, innovation, ip skills to improve operational efficiency and business productivity and faster time to market.
Key Functions of Innovation CoE:
Define, establish IP policy
Automate Key innovation and intellectual property management processes
Integrate into Project Portfolio, IP Financial Planning, Budgeting, Cost Management
Manage Innovation, IP Portfolio
Manage IP Commercialization, Royalty revenues
Creativity and Knowledge Management
Strategic Risk Management
Manage Technology Management functions
Accelerate Innovations from Lab to Market
Become enabler to drive business growth
IPWayz allows you to manage innovations by capturing all ideas across the enterprise and manage the Invention Disclosure. The Invention Disclosure Management System in IPWayz allows prospective inventors to disclosure / submit their proposed inventions to patent committee for review.
Management can evaluate all submissions, and based on commercial viability and strategic benefits, decide to invest in creating business “value“. The scope of innovations can be – Product Innovation or Service Innovation or Process Innovation.
Enterprises can manage all ideas, invention disclosures in centralized idea repository. All inventors can submit their proposed inventions online for evaluation by patent review committee – constituting Business experts, Technical experts, IP Experts, Strategic Business Unit heads and Top Management or Executive sponsor. This ensures organizations solid returns in terms of competitive advantage and ability to monetize innovations and improve business value.