- Manufacturing & Industrial Goods
Empowering Progress: 360° Innovation Intelligence Program in a Global Water Solutions and Pump Industry
Challenge
A leading global Water Solutions and Pump (including circulator pumps, submersible pumps, and centrifugal pumps) OEM headquartered in Europe launched an innovation program. However, it faced challenges in formulating a structured approach to support innovation and strategies.
The client needed support in the comprehensive assessment and benchmarking of several opportunities and ongoing ideas to evaluate viability, success rate, and challenges in each. Further, the client wanted thorough support in taking viable ideas from incubation to the commercialization stage and defining key strategies while targeting revenue streams.
Solution
To offer comprehensive assistance in the client’s open innovation strategy, STATXO conducted an exhaustive and comprehensive 12-month study to identify, understand, and benchmark various innovations in the water solutions and pump industry, culminating in the plotting of ideas on a 2×2 matrix for relative assessment. Following this approach, STATXO advanced multiple ideas through a structured opportunity funnel, evaluating metrics, such as market size, growth potential, profitability indicators, and competitive barriers.
Testimonial
“Thoroughly satisfied with the professionalism and expertise showcased by STATXO. Their approach to innovation, including the idea funnel and detailed analysis, has simplified our decision-making and was incredibly helpful in shaping our strategies.” – Vice President, Innovation Intelligence
Overview
Learn how STATXO empowered a leading global Water Solutions and Pump OEM in enhancing their innovation capabilities and formulate a structured approach to support innovation and strategies.
Impact
By benchmarking the shortlisted ideas against a custom attractiveness and fitment framework, the solution identified the most suitable investment opportunities for strategic innovation. The structured approach not only identified high-potential opportunities aligned with the client’s business goals but also facilitated a streamlined pathway for moving concepts into the incubation stage, ultimately driving growth and competitiveness in the market.
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