Outsourced innovation approach

1. Fresh Perspectives: External innovators bring new ideas and approaches that aren’t influenced by the existing norms and practices of the industry. This can lead to breakthrough solutions that internal teams might overlook.
2. Open Innovation: This concept involves leveraging both internal and external sources of ideas and knowledge. It allows for a more dynamic flow of information and can lead to more robust and diverse innovations.
3. Enhanced Team Performance: Outsourcing innovation can complement the strengths of your existing teams. By combining internal industry knowledge with external innovative thinking, businesses can create a more effective and creative problem-solving environment.
4. Speed and Agility: External innovation teams can often move faster than internal teams, as they are not bogged down by internal politics and can focus solely on the innovation task at hand. This can be crucial when responding to competitive threats.
5. Access to Specialized Expertise: Outsourcing allows companies to tap into specialized skills and cutting-edge technologies that may not be available in-house. This can accelerate the development of new products and services.
6. Cost and Risk Management: By outsourcing certain aspects of innovation, companies can reduce the costs and risks associated with internal R&D. This approach can also lead to faster time-to-market for new innovations.
7. Strategic Partnerships: Building relationships with external innovation partners can lead to long-term collaborations that continuously bring new ideas and improvements to the business.

Savvy’s approach to outsourced innovation, focuses on creating a synergy between internal teams and external innovators which can be a very effective strategy for fostering continuous growth and innovation.

Do you have any specific goals or projects in mind where you think outsourced innovation could make a significant impact?