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Lean Start-Up Principles

Lean Start-Up Principles – InnoQuest August 17th Recap

Posted on August 31, 2016

We had a full room for our IInnoQuest Slides 8-17 pic Current GEnnoQuest meeting in August which looked at Lean Start Up Principles with Parker Hannifin Corporate Technology Ventures and Current, powered by GE – an energy services company created by GE in 2015. Special thanks to Bill Beane and Pam Marvinney from Parker for hosting and to Jeff Nall from Current/GE. Not only did we have two great presentations from Bill and Jeff as well as a terrific role-playing activity that had teams employing Lean and “Fastworks” principles for creating a new product, there were also great discussions and connections made throughout the morning. Both Parker and GE showed how they are excelling in a rapidly changing marketplace, and all participants experienced the importance of asking “why” to their customers (instead of just what) in developing new products – driving home the importance of rapid iteration in innovation.

Brazil Olympic Games EmblemHighlights from the session:
• Four teams role-played developing a new product for the International Olympic Committee – complete with a mock customer interview and project presentation.
• Participants reported out on the benefits of starting an InnoQuest sub-group on implementing Innovation Engineering.
• Two attending companies considering future collaboration on a new innovation project.
InnoQuest Slides 8-17 pic What is Innovation Parker

Bill Beane, Senior Director for Parker Hannifin’s Corporate Technology Ventures (CPV) and Innovation Systems, hosted the meeting in their new innovation facility in Macedonia, which focuses solely on bringing resources and processes to the high risk-high reward projects that come from Parker’s different business divisions. Parker is the global leader in motion and control technologies, and CPV’s job is to prove new technology and determine the market opportunity before sending qualified projects back to their divisions for implementation. Great to see dedicated innovation resources and early successes, too!

Jeff Nall, Innovation and ITO Technology Manager at Current, powered by GE, shared how GE Lighting is moving from the business of selling light bulbs into managing light systems and ultimately building systems – which includes energy storage, sensor technology, and software solutions. Jeff walked the group through GE’s Fastworks program (ExperimentLearn-Iterate) and framed a very engaging small group activity in which four teams had to develop a minimum viable product to meet the needs of a hypothetical customer. Teams developed customer questions, conducted a mock interview and presented their solutions based on their findings.

 

Upcoming InnoQuest Sessions:

  • Oct. 27 Design Thinking – The new center at Cleveland Institute of Art (University Circle)

Guests: Design Professor Dr. Fred Collopy (CWRU); Industrial Design Professor Dr. Doug Paige (Cleveland Institute of Art)

  • Dec. 6 Creativity and Leadership at Location: Philips Medical (Mayfield Heights)

Guests: Dr. Gerard Puccio (International Center for Studies in Creativity – Buffalo State)

 

To participate in the InnoQuest program contact:

Chris Keller (Chris@edgef.org; 216-346-6300) or Grant Marquit (Grant@edgef.org; 216-215-5058)