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Monday, November 23, 2015

EMC Looks to TV for an Innovation Model Tech giant EMC is trying a different method of funding innovative ideas.

Three years ago, inspired by the hit TV show #SharkTank, the marketing department of the data storage and software company #EMC launched a new program aimed at generating innovative ideas. Called #LaunchPad, it replicates many aspects of the TV show. It too features businesspeople going in front of a panel to ask for money to fund their big ideas. It is filmed on a set with bright lights and a live (though small) audience, and it is broadcast to the 50,000 employees in EMC offices around the world. Executives from around the company serve as judges, filling the role played by investor Mark Cuban, real estate expert Barbara Corcoran, and others on Shark Tank.

There are differences, too. The set is located in the back of a mothballed office building in a Boston suburb, and while tough questions may be asked, the tone is decidedly less confrontational at EMC. Most important, the show is the tail end of an innovation process that probably has a bigger payoff than the competition itself.

http://www.technologyreview.com/news/543441/emc-looks-to-tv-for-an-innovation-model/

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