THE CORPORATE CHALLENGE
Reducing Barriers to Innovation
Large corporates need innovation more than ever to assure their future viability. They find great difficulty in finding it from small innovative companies, and when they do, their procurement and due diligence policies and processes raise barriers to adopting innovation.
With the profile of information assurance rising steeply, the need to “futureproof” new security related IT has never been greater. UKII believes that a constructive review of innovation adoption is needed, and that businesses that better understand the challenges faced by innovators are better placed to draw competitive advantage through innovation.
Helped by its Advisory Panel of senior corporate IT professionals, the UK Innovation Initiative promotes realistic and practical ways of reducing the barriers for corporates in the following ways:
- Identifies true IT innovation
- Pinpoints the barriers to innovation
- Pushes to adjust Due Diligence barriers to innovation
- Aims to improve business continuity
- Enabling peer-to-peer evaluation
UKII Identifies only True Innovation
Corporate business recognises it needs to find and incorporate innovation to gain competitive advantage. It currently has great difficulty in tracking down true innovation due to the considerable background “noise” from a huge number of companies.
This pre-sift is examined by our Advisory Panel of senior corporate IT users, to help speed up the discovery process for potential champions in large end-user organisations.
UKII pinpoints the barriers to innovation
Corporate internal risk avoidance policies and processes present a major obstacle for innovators from small and medium sized organisations.
Due diligence and procurement processes, set up to accommodate routine contracts, are too often ill equipped to cope with innovative companies. Innovators face the “Catch-22” of only being able to prove that they are financially viable if they get the contract they are pitching for. They also often become enmeshed in big company routines, and have to bear the crippling cost of extended evaluation processes, the vagaries of corporate politics and lengthy decision cycles.
Large suppliers understand these processes and have the resource to factor in such scenarios. Small companies, however, do not.
The UKII aims to lobby both corporates and SME innovators to raise their game, adjust their mindsets and re-model their processes to narrow the cultural gap between them. That is why we have raised a national pan-industry debate to secure a more equitable and smoother process for adopting innovation in the UK.
UKII pushes to adjust Due Diligence barriers to accommodate innovation
Along with procurement, corporate due diligence processes are a major stumbling block for small and medium sized companies attempting to break into corporate markets. Due diligence takes several forms – technical, regulatory, legal, financial, among others.
We aim to help innovators past initial due diligence hurdles, again through peer-to-peer interaction and review
Aim to improve business continuity
By making innovative developments in IT security more accessible to end user organisations that need it, the UKII aims to help lower the overall operational risks and contribute to effective business continuity both operationally and in terms of risk to the business, the brand and its reputation.
The UKII provides the opportunity for those responsible for looking for innovation in non-competing companies to work together with others at their level in non-competing organisations who are also looking for IT security related innovation.
Enabling peer-to-peer evaluation
Our focus on peer-to-peer interaction is important as it sets off lateral ideas, clarification and approaches for different sectors, in a broadly non-competing, collaborative environment.
Do contact us if you would like more information or would like to take part in innovation evaluations at info@ukii.org
