AGP Support: Innovation Management, Venture Building
Industry: Chemicals, Technology & Software
Industry: Chemicals, Technology & Software
Innovation Funnel Management for Chemical Company
Client
A Fortune 500 chemical company focused on innovation in digital products and services.
Situation
The client’s traditional R&D processes were not suited for developing and scaling digital products. They required a structured yet flexible approach to rapidly identify, validate, and scale new digital solutions to market.
Approach
Asia Growth Partners collaborated with the client’s digital innovation team to create an effective innovation funnel.
- Conduct internal interviews to identify strategic focus areas that align with market trends and customer needs.
- Validate core hypotheses by interviewing customers and ecosystem experts to gain insights into market demands.
- Prioritize and refine business concepts based on feasibility, market potential, and their alignment with corporate strategy.
- Build partnerships with external entities to accelerate MVP development and enhance resource capabilities.
- Implement a continuous feedback loop for ideation and validation to ensure relevance and responsiveness to market changes.
Results
- Generated 16 innovative product ideas in the first three months, with 2 concepts prioritized for MVP development.
- Enabled the client to scale the innovation funnel process to other business units and geographic regions.
- Established a sustainable innovation framework, allowing the company to continuously generate and validate new digital product ideas.
