How an Internal Incubator Will Optimize Your Dev Practices
Many large enterprises consider themselves too slow-moving to keep up with emerging technologies. To avoid this speed bump, some take the route of acquiring innovative start-ups. However, it can be just as quick and more effective in the long term to create an incubator program to nurture internal start-ups. Rather than acquiring knowledge from without, this means building knowledge from within.
An incubator program will empower your organization with expertise in new technologies and possibly with viable products based on those technologies. Beyond this, it will help you to develop vital insight into the changing needs of your market. So, even if an internal start-up fails and you don’t find a direct way to leverage its technical knowledge, you will still have gained something priceless.
The institutional knowledge built by your incubator program will prove vital to future product ideation. It will also mean you are making the most of your human resources. By allowing employees to think creatively you will be tapping a huge pool of potential innovation. And who better to identify product and business opportunities than your employees—the people who know your customers the best?