iPipeline Innovation Days 2015
In 2015, iPipeline will initiate its Innovation Day program. By definition, innovation boils down to having new ideas how something can be done. Innovation involves implementing a creative vision to generate a desirable result or business value.
Participation in Innovation Day is 100% voluntary. Once per quarter on a designated Friday, either an individual or a cross-functional/cross-location team with up to 5 people will create a presentation on a specific innovation. All participants will work on-site, and all conference rooms will be made available on Innovation Day. Participants also have the option to work on the weekend to refine their presentations.
Innovations cannot focus on solving existing bugs or improvements that are already on roadmap for product or operations, or that are scheduled to be addressed in departments.
Innovations will fall into one of two categories:
- Any “Disruptive” innovations (the introduction of new technologies, products or services in an effort to promote change and gain advantage over the competition) or brand new product line ideas that are approved by the innovation committee will be advanced to an iPipeline seal team. Individuals who have generated the ideas will participate in all milestone meetings held by seal team where decisions are being made until the innovation is either shelved or moved to the iPipeline Product steering committee.
- If approved, the innovation work with the seal team will be executed within a 30-60 day timeframe with a time investment of a couple of hours of participation per week for the proposing team.
- Any “incremental” innovations (the introduction of technologies, products or services that improve an existing product and/or process) that are approved by innovation committee will be worked on by proposing team at 15% of their work time for the following quarter.
- This will amount to 6 hours per week. The duration will vary based on the innovation.
Innovation Day Presentation Process and Rewards
Teams will present ideas on a Monday afternoon via video conference to an innovation committee. The presentation is limited to 10 minutes and will be followed with 5 minutes of feedback from the innovation committee.
Team presentations need to include an action plan for anything that must occur post innovation day in order for the innovation to be implemented.
There is no monetary reward for being selected for your innovation, but there is recognition at the corporate level. Innovations selected for implementation will be presented by the winning individuals and or teams at the next Quarter Meeting, where they will be presented with Certificates for “Meritorious Innovation.” In many instances, you will have the opportunity to see it through to launch and or implementation.
This is what Innovation Day at iPipeline is about!