Branding Strategy Insider helps marketing-oriented leaders and professionals define, strengthen, and grow brand value. One way we do that is by answering real questions from readers navigating real challenges inside their organizations.
Today, we’re hearing from Jennifer, a VP of Marketing in Boston, Massachusetts, who has a timely question about building an internal innovation incubator.
We are exploring the creation of an innovation incubator inside my organization, what guiding principles should shape my approach?
Thanks for your question Jennifer, there are several things to consider.
1. Think Like a VC, Not a Planner — Expect 6 out of 10 projects to fail completely. If everything succeeds, you’re not taking enough risk.
2. Build a Portfolio, Not Pet Projects — Spread bets across multiple ventures. One executive’s favorite idea = a diversified innovation strategy.
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3. Separate the Budget — Don’t make business units choose between today and tomorrow. The corporation must make that choice.
4. Focus on One Risk at a Time — Stop trying to solve everything simultaneously. Address the biggest, cheapest-to-test risk first.
5. De-emphasize the Revenue Projections — As one VC told me: “We look at the revenue picture, then throw it out the window. It’s a dream at best.”
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6. Create Cross-Functional Governance Early — Waiting until commercialization to involve other departments is a recipe for political disaster.
7. Partner with “Ball Catchers” — Involve the people who’ll eventually scale your venture from day one, even if it’s just a small allocation of their time.
8. Measure “Return on Knowledge” — When ventures are 2+ years from launch, track learnings, not just financials.
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9. Awards, Not Rewards — Entrepreneur-style financial incentives create internal warfare. Recognition works better.
10. Move Fast on Setup — Spend 4 months max designing your program. Then launch and let real projects set the precedent.
Building an innovation incubator is more than creating a space for ideas; it’s about establishing the conditions that allow those ideas to mature into meaningful competitive advantage. When leaders commit to the principles that underpin successful incubation—clear purpose, disciplined governance, aligned incentives, and a culture that protects experimentation—they give innovation a real chance to take root.
I hope this helps you think more deeply about what it truly takes to design an incubator that delivers lasting value for your organization.
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Contributed to Branding Strategy Insider by Steve Wunker, Co-Author of AI and the Octopus Organization:
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