Conference Day Two: Tuesday, 24 October 2017
8:10 am - 8:45 am COFFEE AND REGISTRATION
8:45 am - 8:50 am Conference Opening – Remarks From the Chairperson
8:50 am - 9:20 am INNOVATION LABS: How Nasdaq is Driving Long Term Ideation Through A 3 Tiered Innovation StrategyReza Chady - Head of Innovation Lab and Data Science NASDAQ
Innovation has always been in Nasdaq’s DNA, but now more so than ever. Under a new CEO, the first call of action is a 3 tiered innovation lead program from the inside to draw upon employees.
Within this program the focus is on tech lead innovation, positively embracing partnerships and transitioning from ideation to incubation.
In this session Reza will delve into:
- Defining success in innovation and how to measure this
- Ensuring the lab is successful in the short term but also has a long term impact
- Lessons learnt from the establishment and creation of the Global Nasdaq innovation lab in Sydney
Reza ChadyHead of Innovation Lab and Data Science
9:20 am - 9:50 am Six and a Half Uncomfortable Truths About Corporate InnovationColette Grgic - Chief Innovation Officer BlueChilli Group
Big businesses don’t seem to be very innovative.
An informal glance around the big business landscape won’t reveal much in the way of innovation beyond perhaps the routine adoption of a new technology, a bit of chasing the most current business model paradigm or acronym, or maybe rejiggering organizational charts here and there. But, innovation? Not so much.
In this session, Colette will explore:
- Where corporate innovation usually fails and how to avoid these pitfalls in your organisation
- Measuring the success of corporate innovation programs – how can we quantify this?
- Exploring the leaders of corporate innovation and those that are lagging behind
Colette GrgicChief Innovation Officer
9:50 am - 10:20 am INNOVATION LABS: Creating a Start Up Mentality Within Sportsbet Through the Creation of LabsLeslie Barry - Head of Innovation Sportsbet
Sportsbet is Australia’s largest online bookkeeper with $117m in operating profit. In Leslies brief time at Sportsbet he has had a profound impact on the way the company approaches innovation – culminating recently with the ideation, design, development and release of a product in just 12 weeks. As a result, since 2015 Sportsbet’s revenue has grown 54%.
In this session Leslie will explore:
- Understanding why your company has to innovate and embedding a startup mentality within and enterprise
- How to avoid innovation theatre
- Tips and tricks based on Leslie’s extensive experience within Sportsbet, Thoughtworks, as founder of several startups and mentor at Slingshot startup accelerator
Leslie BarryHead of Innovation
10:20 am - 10:50 am MORNING TEA
10:50 am - 11:20 am ACCELERATORS: Australia Post’s “Change or Die” Transformation and the Ongoing Challenge of Reinventing an Australian IconSean Carroll - General Manager – People, Culture and Innovation Australia Post
In 2010 it had become clear that Australia Post’s core business was no longer sustainable. In light
of this, Australia Post commenced a reinvention journey that involved customer-centric innovation
in eCommerce and digital services. This reinvention journey is unfinished as the next wave
of disruption continues to challenge Australia Post’s future. To combat this Australia Post has
embarked on a series of investments, experiments and business model adjustments to embed
innovation in the culture of the company.
In this session, Sean will explore:
- Why innovation is a long-term systemic change program that takes thoughtful design,not just a flashy new innovation lab
- The critical role of leadership in building a culture of innovation
- Lessons from building a capacity for experimentation and incubation over many years
- Partnering with the external start-up community and the importance of connecting this to the core business to feed the culture
Sean CarrollGeneral Manager – People, Culture and Innovation
11:20 am - 11:50 am CORPORATE VENTURING: NAB’s Use of Venturing and Partnerships to Boost Return On InvestmentJulian McInerny - Head of Innovation Partnerships and Commercial NAB
NAB has established an inhouse innovation unit ‘NAB Labs’ to develop customer focused concepts that can be rapidly commercialized. In addition to this, they have created a $50 million NAB Ventures fund to access leading ideas and capabilities through investments in innovative companies globally.
In this session Julian will explore:
- The stresses and challenges a 6 week agile type project methodology is causing
- Embedding the five step model: discover, define, validate, iterate and pilot
- Partnering with fintechs to drive ROI through mutually beneficial long term relationships
Julian McInernyHead of Innovation Partnerships and Commercial
11:50 am - 12:50 pm LUNCH BREAK
12:50 pm - 1:20 pm CROWDSOURCING: Leveraging Frontline Distribution Network to Drive Customer Centric InnovationHayden McDonnell - Senior Labs Lead: Consumer Banking Bendigo and Adelaide Bank
For a smaller scale challenger bank, Bendigo and Adelaide has levels of innovation that can rival established players with much larger market share. A key contributor to this is the banks involvement of the frontline organisation in internal innovation programs.
This session will have Hayden accompanied by a frontline business colleague show a dual perspective on the benefits of staff collaboration in all realms of the business and its contribution to ideation.
- Crowdsourcing ideas from frontline staff and reacting quickly to take the idea to prototype stage and test with customers in branch
- Developing an agile team who can produce solutions that can be installed rapidly
- Giving networking more of a voice and aligning it with what is happening digitally
- How to create a culture that incorporates human centred design
Hayden McDonnellSenior Labs Lead: Consumer Banking
Bendigo and Adelaide Bank
1:20 pm - 1:50 pm CORPORATE VENTURING: The Coca-Cola Company’s creation of Red Garage Ventures to Drive Internal DisruptionFranki Chamaki - Founding Director Red Garage Ventures; a Venture Studio Funded by The Coca-Cola Company
Red Garage operates as a venture builder/start-up studio partnering with The Coca-Cola Company. Their independence is key to moving with speed, keeping lean and building value.
Red Garage conducts the early stage problem exploration, concept development, and business model validation.
In this session Franki will discuss:
- Why innovation inside of an existing corporation is so difficult and how companies can employ the tools and processes successful start-ups use to drive innovation
- How corporates can innovate leveraging their assets and startup thinking to exploit new growth areas
- Outlining the Red Garage Ventures concept and what to consider when setting up a corporate venture fund
- Ensuring successful commercialization and acceleration of a start up by leveraging the “mother ship” assets, relationships and being a key R&D customer
Franki ChamakiFounding Director
Red Garage Ventures; a Venture Studio Funded by The Coca-Cola Company
1:50 pm - 2:20 pm AFTERNOON TEA
2:20 pm - 2:50 pm HACKATHONS: The Importance of Follow-Through to Translate Ideas Into Reality at News CorpRyan Hunt - Innovation Manager News Corp
The CEO of News Corp stated that ‘real innovation happens when you’ve got the right people working together while maintaining an open culture.’ Readers of print newspapers have declined by 4.3% from the previous year – however News Corp’s weekday readership has increase. In an industry that is speculated to be on the path to its demise, News Corp has emerged as a dynamic company taking their next steps.
In this session, Ryan will uncover:
- Moving to outside/in thinking: looking at your business from the customers perspective and then searching for product and market fit
- The benefits of Hackathon’s and challenges of moving from ideas to creation
- Creating an internal culture for innovation
Ryan HuntInnovation Manager
2:50 pm - 3:20 pm CORPORATE VENTURING: Westpac’s Three Model Approach to Enhance Internal Innovation CapabilitiesKomal Gulabani - Innovation and Strategy – Finance Westpac
Westpac is operating three different models for driving new thinking into a 200 year old organisation. This stemmed from the CEO’s comments that the bank needed to act more like a start up to face the challenges of market disruption.
Westpac has created ‘The Garage’ as a lab, ‘The Hive’ for hackathons and internal events and ‘Westpac Reinventures’ to invest in local start-ups.
- Cutting through organisational complexity and delinking
- Keeping the link between ideation and delivery intact
- ‘Act outside the box’
Komal GulabaniInnovation and Strategy – Finance
3:20 pm - 4:00 pm Panel Discussion: Innovation Theatre – Who Is Doing Real Innovation and Who Are All Song and Dance?Jason Juma Ross - Head of Tech, Entertainment and Connectivity Facebook
Leslie Barry - Head of Innovation Sportsbet
Colette Grgic - Chief Innovation Officer BlueChilli Group
Nick Rakis - Head Designer & Coach - Incubation and Lean Innovation Australia Post
It’s harder than ever to stay on top - in 10 years 40% of the Fortune 500 will no longer exist. This threat for established organizations by startups and disruptors is paving way to a ‘innovate or die’ mentality. As a response, some of the most renowned companies are looking into innovation labs and internal programs to drive ideation however the sad fact is that 90% of innovation labs are failing.
This panel will look into exploring the following questions:
- Are companies engaging in radical innovation or just tweaking existing products incrementally?
- What is the timeline to ROI and the amount of risk companies are willing to assume?
- Is it establishing buzzwordy innovation programs accelerator programs enough?
- For established companies who have a reputation for being not too innovative –will the startups who are attracted to your accelerator be any less than 2nd or 3rd tier?
- How do we compare to the best practices in international innovation ecosystems? How do we compete?
Jason Juma RossHead of Tech, Entertainment and Connectivity
Leslie BarryHead of Innovation
Colette GrgicChief Innovation Officer
Nick RakisHead Designer & Coach - Incubation and Lean Innovation