Innovation fail fast and move on

The video discusses setting up a repeatable innovation service. The speaker shares experiences of being approached to surface ideas within a large team. The challenge was defining what constitutes an idea, as perceptions varied. A method was developed to quickly evaluate and discard ideas, coining the term 'fail fast.' This approach led to the creation of a system called 'incubate,' which helped in efficiently processing ideas and achieving better results. The key takeaway is the importance of moving quickly through concepts to foster scalable innovation.

What was the initial challenge faced by the team in setting up a repeatable innovation service?

• Finding the right technology

• Defining what an 'idea' is

• Hiring more team members

• Securing funding

What does the 'fail fast' approach emphasize?

• Quickly evaluating and discarding ideas

• Focusing only on successful ideas

• Spending more time on each idea

• Avoiding any failures

Which type of ideas were most likely to be developed further according to the speaker?

• Ideas that required extensive research

• Ideas with immediate propositions and calls to action

• Ideas that were completely new and untested

• Complex and detailed ideas

What system was created to manage ideas efficiently?

• Innovate

• Create

• Evaluate

• Incubate

What is the key lesson learned about innovation according to the speaker?

• Innovation is only possible with substantial funding

• Innovation is best achieved by moving slowly

• Innovation benefits from quickly moving through ideas and failing fast

• Innovation requires a large team