The idea funnel life cycle introduce a visual illustration for the ideas’ different maturity stages. Also, it gives an overall view about the different nature of each stage and its related needed activities, maturity, competencies and life cycle management approach. We believe that the successful management of the funnel life cycle is one of the most challenging topics related to enterprise innovation management.
The ideas funnel is mainly divided into three main stages. The first stage is the Get Phase, in which the main challenge is to get as much as possible competitive ideas. The second phase is the Build Phase, in this phase our challenge is to take the promising ideas through a path of product development. Such path is divided into different check point stages to guarantee the effectiveness and efficiency of the new product development life cycle. The third phase is the Grow Phase, in this phase our main challenge is to successfully productize and commercialize the ideas into a diffused products and services with high economical impact.
Ideas Funnel Life Cycle Management Canvas
The Ideas Funnel Management life cycle canvas provides a single consolidation view for the three stages and the different important elements as the activity type, maturity of the idea, success rate, needed budget and resources, KPIs, needed skills and team involvement.