Lessons from designing and implementing innovation challenges: How to mitigate risks and what’s next?

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Lessons from designing and implementing innovation challenges: How to mitigate risks and what’s next?

14:00 – 15:00 CEST

Innovation challenges differ from organisation to organisation based on their innovation goals, their requirements and barriers to achieve those goals, their strengths and tolerance for risk and failure.

Understanding one’s organisation is a key success factor in innovation. However, since innovation means “doing things differently, and doing different things,” bottlenecks, weaknesses and strengths in testing, developing and scaling up ideas are not always immediately evident. Over the last few years, innovation challenges have become increasingly popular as an effective mechanism to scout for ideas internally and externally, selecting them, funding them and supporting them to scale up.

This Innovation Talk shares experiences from three Development Finance Institutions (DFIs), UN Innovation Network, WFP Innovation Accelerator and the private sector, represented by VentureWell, on what they have learned from designing and implementing innovation challenges.

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Online

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