STEM Foundation

Investor in Innovations Standard

Recognising innovation as a strategic driver for business growth

Innovation is like the oxygen that organisations need to stay alive. Without it, organisations die.

Many organisations claim to be innovative but often, the reality is that innovation is fragmented and bolted-on to a non-strategic function.

This invariably stifles creativity, affects motivation and hinders performance. The net result is a precarious business position and a non-sustainable innovation pipeline.

Investor in Innovations is an integrated, leading-edge Standard that offers a practical way to validate, benchmark and drive innovation systematically.

It uses a well-defined six category framework that connects your industry insights, market intelligence and technical capability with your processes and business model.

The resulting impact is a stronger innovation culture, opportunities for performance improvement, diversification (product and market) and a visible differentiation of your organisation as an innovation leader.

Achieving the Investor in Innovations Award will enable the organisation to demonstrate to its stakeholders a strategic commitment to innovation that has been validated independently.

The Investor in Innovations standard was published in the prestigious Science in Parliament Journal. Click here to read the article.

WHO IS IT SUITABLE FOR?

Educational providers (Colleges and Universities).

BENEFITS

Investor in Innovations helps your organisation to build:
  1. A benchmark for your innovation approach
  2. An effective innovation strategy
  3. A culture of innovation
  4. Improved business models
  5. Open innovation programmes
  6. Innovation capability through the supply chain
  7. Attractive innovation investment portfolios
  8. A stronger approach to business process improvement &
    change management initiatives
  9. Better innovation scorecards cascaded to partners, suppliers & stakeholders
  10. Opportunities for product and market diversification
Thus, differentiating your organisation as an innovation leader.
 

PROCESS

The process is undertaken in multiple stages and is based upon rigorous self-assessment supported by an experienced team of IKE Advisors.
 
  1. Self-assessment:  You will analyse your innovation provision against a series of value statements and produce actions for continuous improvement. You will be supported in this by one of our Advisors
  2. Interviews: The self-assessment will be supplemented by a series of interviews undertaken with staff from all areas and levels of responsibility. We will also arrange a visit by representatives of our Innovation Council to validate the evidence and make a recommendation on whether or not you have met the required standard
  3. Report:  We will produce a report capturing observations of the visit and supporting evidence. The report will include constructive feedback designed to support your continuous improvement
  4. Award: Assuming that you are successful, you will receive the Investor in Innovations Award. The award is valid for three years and will be supported by an on-going relationship with IKE.
As a recognised Investor in Innovations organisation, your clients, employees and other stakeholders will be assured of your thriving capacity to utilise innovation as a competitive edge.

Need More Information?

 
 
 
 
 
 
 

FEEDBACK

“We are absolutely delighted to receive the Investors in Innovations Award – The whole college works very hard to underpin excellence in innovative practices – from fostering a culture of learning innovation to creating inspirational learning experiences, we demonstrably identify and fulfil industry demand with relevant qualifications, which ultimately make a dramatic difference to individuals, businesses and our local community. As a team we think very differently to provide solutions and this is the core of our practice underpinning this recognition.”
Audrey Kingham, Deputy Principal, Tyne Met College, July 2015

"This Invester in Innovations award is official recognition for the culture of innovation that TyneMet College nurtures in its staff and it students. Its new IGNITE Centre for Engineering and Innovation is a prime example of this. Providing the specialist training to embed the skills employers need from their workforce in fabrication, electrical engineering and welding is vital in filling posts in regional businesses. It will also make a telling contribution to the LEP's Strategic Economic Plan of creating more and better jobs for the North East economy." 
Hans Möller, North East LEP Innovation Director, Oct 2015

“We’ve been quite impressed, if not slightly startled about how thorough the whole process is and the quality of the peer review that come from other industry experts, so we found it a very valuable but challenging process and it’s helped us now build improvement plans to get even better at innovation." 
Dr Alvin Wilby, Vice President Thales Group, Dec 2015

“Universities have the potential to be innovation engines for the economy, using their knowledge and expertise to catalyse socioeconomic development – and Plymouth is very proud of its track record in this field. Undergoing the Investor in Innovations Standard has helped us to refine and refocus our innovation efforts and align these with the University’s overall Business Strategy.”
Professor Simon Payne, Deputy Vice-Chancellor of Plymouth University, Oct 2015

“Working with the Institute to gain Investor in Innovations status as well as develop an Innovation Hub has been highly beneficial for Highbury College. The IKE expert team of practitioners and advisors has really helped me and the College understand its current innovation capability and has also helped identify gaps to further develop the strategic innovative capability of the organisation. The team are highly knowledgeable and offer extensive networks of experiences which the College is leveraging to develop its growth plans.”
Paul Rolfe, Head of Technology & Innovation, Highbury College, Portsmouth

STEM > Innovation Driven Education