Innovation 360 Group

Swedish Innovation Management Engine Arrives in Canada

Press Release   •   Mar 19, 2019 12:51 UTC

Toronto

Innovation is the lynch pin to staying relevant in turbulent markets, but many enterprises, not-for-profit organizations, and governmental agencies still struggle to implement consistent, structured innovation programs. Canadian Prime Minister, Justin Trudeau recently explained, “We need to make sure there is a business ecosystem, supporting and drawing on this world-class talent we have.”

Laying the foundation of a productive business ecosystem centered around innovation is the mission of Innovation360 Group, a Stockholm-based innovation consulting firm. They have expanded with new offices in Toronto, New York, and Chicago, as part of a larger North American development initiative. “We’ve established the Innovation360 Canada to provide a full suite of Innovation360 offerings to the growing Toronto innovation community and the broader Canadian market. We are uniquely positioned to support businesses with tools and software that no one else in the marketplace can offer,” said Gerry Purcell, Managing Director, Innovation360 Canada.

Magnus Penker, CEO and founder of Innovation360 Group AB, has assembled decades of research, the world’s largest innovation database, and original methodologies in his drive to extend the functional lifetime of organizations everywhere. Original research by Penker in association with industry leaders has demonstrated that “radical innovators” have been both more structured and more successful than incremental innovators across a wide range of metrics.

Reliable innovation has grown ever more critical to business strategists as the more connected global economy has dialed up the rate of change. Penker said, “Change is constant and relentless. And, we expect change in the next 90 years to equal what the world has experienced over the last 10,000 years. At the current churn rate, about half of the S&P companies in place today, will be replaced in the next 10 years.”

Fortunately, Toronto is poised to break out as one of the world's leading innovation hubs over the next four years, according to an annual survey of global tech industry leaders in KPMG International's latest Global Technology Innovation report. While the world’s executives agree that innovation is key to achieving their objectives, research suggests that only 6% are satisfied with their innovation performance. “The problem isn’t the lack of ideas,” Purcell pointed out. “We all have lots of them. Often low performance reflects poor innovation capability and a singular focus on short term impact – for example, 99% of technology budgets are focused on the current state.” In contrast, a culture of innovation prepares organizations to compete and grow in the decades to come, no matter what surprises the future holds.

Innovation360 consultants, along with their ecosystem of licensed independent consultants in business centers all over the planet, provide concrete metrics and training to take the guesswork out of innovation so that organizations can expand their capabilities and move out ahead of competitors. Business tools and services they have developed include:

The InnoSurvey® - the world’s most comprehensive data-driven assessment of business unit capabilities and skill sets, so organizations can determine where to invest their innovation resources. Each assessment is benchmarked against the most comprehensive knowledge base and working with the Innovation360 team results in a fact-based roadmap that drives tangible improvement.

InnovationIQ - an international rating system that measures how well any given organization manages innovation and where small improvements could bring the greatest gains. It certifies to partners, investors, and key stakeholders the organization’s capacity for innovative action against global benchmarks. Scoring is consistent with emerging ISO international standards.

Ideation360™ - a proprietary, stand-alone enterprise app and SaaS-based solution for generating ideas, fostering collaboration, and choosing the ideas that deserve further development and commercialization.

Sherlock - the next generation AI platform for pattern recognition and deep analysis of innovation data. Sherlock uncover hidden connections and generates valuable metrics for measuring the effectiveness of innovative concepts.

While Innovation360 is dedicated to helping any organization find their individual source of strength in the market, the bigger picture is that when we work together to make the pie bigger, everyone benefits. Penker regularly challenges his audiences to think bigger, “We need to understand that there are many crucial problems that deserve our collective attention, including the fight for clean water, better education, wider access to health providers, reduction in poverty, and finding ways to make agricultural technologies more productive. We need to fix these things and the only way to do it is by experimenting, learning, and trying again. With a more sustainable social structure, the planet would be able to support maybe ten, maybe twenty billion people. The next generation depends on us to work it out. Innovation is the way we do that.”

About the Innovation360 team

Magnus Penker is the CEO and founder of Innovation360 Group AB, with offices in Stockholm, Sweden, New York City, and Chicago. Business Worldwide magazine selected him as the Most Innovative CEO in Sweden 2016, and Growth Strategy CEO of the year, Sweden 2016. Gerry Purcell is Managing Director of Innovation360 Canada, headquartered in Toronto. Based in Canada for 30+ years, Gerry is a senior management consultant with extensive human capital, innovation, and strategy experience working with clients across industries in North and South America, Europe, Asia, Australia and the Middle East. He has successfully guided organizations in the private, public, and not-for-profit sectors. An alumnus and Partner/Principal at two leading global consultancies, he uses his experience and understanding of cultural dynamics in organizations to harness the entrepreneurial spirit, break new ground, communicate broadly, uncover new ideas, and seek the unattainable.

For more information, see https://innovation360.com/

CONTACT

gerry.purcell@innovation360group.com +1 416-200-2338, Managing Director Innovation360 Canada

magnus.penker@innovation360group.com +1 347 933-0871, Group CEO Innovation360

The Innovation360 Group develops world-leading technology for innovation development. It was founded in 2014 by Magnus Penker and Martin Hultquist, veterans in the consulting industry who specialized in start-ups, turn-arounds and successful company sales in Sweden and abroad.

The Innovation360 Group guides organizations in sharpening their innovation capabilities and re-imagining their value propositions. It speeds up global go-to-market projects through innovative strategy and organizational development. Their research-intensive innovation assessments and metrics derived from their proprietary innovation database the Innosurvey®. Their methodology includes research in the innovation area, evidence-based analysis and recommendations on concrete execution plans for increased innovation capability, profit and growth. An overview of this proprietary process is published in the five volume Innovation360’s Complete Guide to Business Innovation.

The Innovation360 Group primarily works with organizations that espouse high ideals and demonstrate a strong international focus on innovation, positive change, profit & growth. Innovation360’s consulting is delivered both through its own service organization and through an extensive network of licensed practitioners in 28 countries all around the planet.