2 main responsibilities for Corporate Innovation

Corporate Innovation should help to expand new solutions and services, sourcing them internally or externally. What about corporate innovation in the financial services?

Any Department of Innovation of a corporation has 2 main responsibilities:

Leading internal innovation
Sponsoring external and independent innovation

1. Leading internal innovation may include:

Animation of the Ideation process (ideas box, ideas transformation to projects)
Innovative projects Management and Execution
Preparation of the commercialisation of the solution
Follow-up of the ROI of selected projects

2. Sponsoring external and independent innovation

Sourcing innovative projects bringing added value for the company directly or not
Building the alliances
Supporting the executions and the commercialisations
Follow up the projects and their life cycles.

And you?
Which missions have your Department of Innovation in your company in the Financial sector?
Are you proud of their achievements?

See also “Craft a precise definition of innovation’s role in the overall corporate strategy based on the company’s industry, market,and competitive environment” (http://blogs.techrepublic.com.com/10things/?p=1417)