Company news
Follow us @industrieitProposal Submission
A proposal submission will go through four main stages:
- Inception: where the business plan for the innovation proposal is developed and submitted
- Incubation Assessment: where the business plan for the proposal is presented by the team and assessed by a Leadership Panel constituting all core disciplinary areas; such as: technology, finance, marketing and operations
- Incubation Start: The innovation proposal enters incubation where the 100 day business plan is executed and monitored.
- Incubation End: Where it is determined if the initiative has proved its viability and considered for further support and investment.
It is accepted that many initiatives will fail and so budgets are set accordingly. In order to ensure the highest probability of success two things are considered to be most important:
- strong support of submitters in developing their proposals to meet success criteria
- re-assuring the submitters (and those that are undertaking the work) that it is 'OK to fail'; given that initiatives will be extremely high risk endeavours by nature.
In this way the Leadership Team manages the risk but also ensures that the successful teams have the necessary freedom to innovate which is recognised as fundamental to such a program.