Fronteer Strategy - Vlerick Co-creation & Open Business Models

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Presentation by Martijn Pater about Co-creation and Open Business Models during the Vlerick Innovation Day

TRANSCRIPT

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Fronteer StrategyCo-creation & Open Business Models- 2nd Vlerick Innovation Day

Brussels, October 11, 2011

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Crowdsourcing

Co-CreationCommunitiesExpert Board

Open Innovation

User Generated Content

Social Media2.0

Collaboration

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Team sessionsHiring an agency

Expert panels Brainstorm

sessionsResearch

Social media

How does it relate to?

Co-Creation

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Question to you:

What is Co-creation?

4

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

ABOUT US

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

We help brands to grow

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8

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 9

STRATEGY

Our services

INNOVATION

CO-CREATION

VALIDATION

BUSINESS MODELING

IMPACT

BRAND DEVELOPMENT

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

CO-CREATION

Unpredictability

11 Source: Banny Bannerjee, Stanford University

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You cannot solve a problem

with the same thinking that

created it.

Albert Einstein

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No matter who you are, most of the smartest people work for someone else.

Bill Joy, Founder Sun Microsystems

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Co-creation unlocks the collective creativity of

people to create deeply relevant solutions.

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Co-creation is the chance for others to complete

the work that you started, going well beyond what you

envisioned or intended.

Henry Chesbrough, author of Open Services Innovation (2011)

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Co-creation is developing new products, concepts or services

together with customers, partners and other expert stakeholders.

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Why Co-Creation?

1. Real involvement of the outside world

2. Fresh new perspectives, ideas & energy

3. Innovative, compelling & round concepts

4. Point of No Return

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

4 TYPES OF CO-CREATION

4 Types of Co-creation

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Anyone can join

Selection process

Initiator Initiator + Contributors

Club of Experts

Community of Kindred Spirits

Coalition of Parties

Ownership

Open-ness

Crowd of people

Crowd of People

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Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

4 Types: Crowd of People

Crowd of People

For any given challenge, there might be a person out there with a brilliant idea Community, PR, Crowdsourcing

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

200-500 USD

99Designs

What does the co-creator get out of it?

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

2500 USD

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1% of revenues

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

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25.000 and 1% of revenues

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40% of revenues

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

A GRI (Glucose Responsive Insulin) for Better Treatment of Type 1 Diabetes

100.000 USD

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

1M USD

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100M USDFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

- 250 USD

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Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

4 Types: Community of Kindred Spirits

Community of Kindred Spirits

Groups with similar interests & goals developing something for the greater good Social, Open Innovation

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Glory

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Your own products made

35

A new interior

36

A better world

37

A better classroomFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

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A unique chance

392

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

4 Types: Coalition of Parties

Coalition of Parties

In certain complex situations you need to team up to share ideas and investments R&D, Relations

40

New opportunities

41

New value

422

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

4 Types: Club of Experts

Club of Experts

Specific, time-pressured challenges that demand expertise & breakthrough ideas Visionary, Team

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

WHY?

Fun, Fullfillment, Fame, Fortune

Co-creation services

Crowd of people

ROOFTOPExpert co-creation5 + 10 people1 challenge, 1 day

CLUBHOUSEStrategic alliances2+ parties1 challenge, x wks

CAMPSITECrowdsourcing500+ people1 challenge, 9 wks

CAMPERInnovation camp10-15 people5 days-off

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

KICKSTARTER.COM

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What can we get funded?

50

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Some recent numbers:

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Source: Wired.com

80 Projects launched daily

5% goes to Kickstarter.com 10% of projects are gadgets

+/- 40% gets funded400K pledgers14K projects

1M USD pledged weekly

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How does it work?

53

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Upload project

Video, blog, social media

Pledge levels

Backers% FundedDays leftProduction..

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What could be improved?

1. More structure

2. Co-creation

3. Hick-ups

What is really good?

1. Easy & Open

2. Trust

3. Promotion

Source: Yobble

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 57

A iPod Nano watch got...

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

As a result:

6 People hired to answer...40.000 e-mails

Prooduction time shortenedto 30 days

Very close connection to customers

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Source: Wired.comSource: Wired.com

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Peoples use of the service is never what the creators

intended.

- Investor in Kickstarter

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Source: Wired.com

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

THE FUTURE?

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

How will we fix a broken stroller?

61

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Thanks

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Whitepapers: fronteerstrategy.com

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

info@fronteerstrategy.com