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Aalto Innovation Factory is based on open innovation. It is applicable in
- Enhancing collaboration and outward-looking way of working in the early stages of innovation process
- Developing a working culture and systematic way of building on each others’ ideas
- Increasing the volume and quality of new innovations
- Increasing the efficiency and speed of developing ideas into business concepts
- Enhancing the quality of business concepts to be utilized in product development
- Accelerating the company idea bank utilization
Aalto Innovation Factory process in brief
- Based on open innovation
- Effective and fast: ideas can be developed into business concepts in 4-5 weeks
- The process typically includes 2-3 days in a workshop where the whole team is present and ideas are developed with external feeder perspectives
- The remaining work is done in small groups assisted by external partners
- Aalto EE facilitators are actively involved throughout the process
- From a large pool of ideas 8-10 are selected to be experimented with and developed into business concepts
- Outside experts, including customers and venture capitalists, alongside internal decision makers are invited to participate in the concept exhibition at the end of the process
- Altering the existing innovation process can also be an outcome in this process
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