Innovation Pays Off for Dupont
Interaction Associates enables a global team to innovate and seize a market opportunity.
The CEO of Dupont noticed a global biotech market emerging, and Dupont could have a legitimate stake in this market (given their background in agriculture and their focus on the “miracle of science.”) He felt it was a natural area of opportunity and as a result, he sponsored a global team to seek the most innovative approach to penetrating this new market.
Interaction Associates was hired to work with the team and team leader to design and facilitate the process by which a presentation, and a decision, would be made regarding the “go/no go” of a major investment in this perceived opportunity.
The innovative opportunity was to take Dupont’s senior researchers, and put them together with a global team of business people to leverage the cross-discipline expertise of the firm in the design of the process. There were a huge range of stakeholders in this process (chemists, biotechnologists, and business people) who had specific expertise in one area of the field, and who from a discipline and background perspective, came from very different places.
IA worked with the team to identify, given the data each stakeholder brought to the table, the decisions that could be made that would be useful to the executive team. They also made recommendations for further reflection among the executives -- other decision-makers -- on key issues for which the group did not have answers.
Return on Involvement
The group decided to create a center for innovation inside of Dupont that would be staffed by non-Dupont people, so that conventional wisdom would not prevail. They created an innovation council with innovative standards, and a screening discipline that would take ideas from research to commercial viability over a period of time. This model would then be applied to the creation of biotech “big bet” innovations over time. The proposal was accepted, and Dupont has now created a fully functioning center for innovation.
IA Services Provided
- Innovation Consulting.
- Coaching in Collaborative Processes.
- High Stakes Facilitation.