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Awi Lifshitz

CEO at weXelerate - Corporate Open Innovation

Awi Lifshitz is the Chief Executive Officer of weXelerate, an Austrian innovation ecosystem.1 He has been leading weXelerate for several years, with the company having been founded in 2017.7 Lifshitz describes himself as "Leading Austria's most impactful innovation ecosystem @ weXelerate".25

With over a decade of experience in corporate innovation5, Lifshitz has been instrumental in shaping weXelerate's mission to facilitate collaboration, enable companies, and maximize innovation potential.1 Under his leadership, weXelerate has evolved from focusing on corporate-startup collaborations to becoming a comprehensive innovation hub in Vienna's city center, home to over 40 companies.1

Lifshitz is also the founder of Venturecake, which he describes as "Austria's first co-owned accelerator".25 His professional background includes education at WU Wien (Vienna University of Economics and Business).4

Throughout his career, Lifshitz has been actively sharing insights on innovation, strategy, and leadership through his LinkedIn posts.368 He emphasizes the importance of tackling siloed innovation in Austria and has worked towards creating a more collaborative innovation ecosystem.7

Highlights

Mar 25 · linkedin

A question for leaders in organizations looking to innovate: Can your governance framework keep up with change?

One big strength of big corporations is their established framework. They can operate smoothly without disruption.

Yet, this same framework becomes a problem when it comes to innovation.  They're old, tried, and tested. If it's not broken, why fix it, right?

——- Here is an example.

When BASF launched this Onono lab in São Paulo,  their big goal was innovation.

They planned to collaborate with local partners and startups rapidly.

But, like in many big companies, there were tons of rules.

The director, Antonio Lacerda, was told that his lab must follow the same corporate data policies to secure BASF's entire cloud infrastructure.

That made quick, agile partnerships with startups pretty much a no-go.

So, they had to delay the project until Lacerda got an exception.

Eventually, they set up a "sandbox" – a separate data space for his team, allowing them to share data with new partners via APIs.

—- This story sounds familiar, right? I think it's a common struggle in big firms. Innovation teams have to fight for waivers in the face of business rules.

And, of course, it buries two key elements of innovation:  Speed and Scalability.

How could you scale an innovation if it relies on ad hoc exceptions approved by leaders?

So, it's time for a shift.  We need to redesign our processes and management practices to speed things up.

I've taken some insights from MIT Sloan Management Review and compiled them into a handy cheat sheet.

It's right here for you to use and shape your innovation governance.

You can read the article from MIT Sloan Management Review here: https://lnkd.in/ghK65xgA

PS. Want to shape a governance that fosters innovation?  Join me for a coffee at our Innovation Hub in Vienna.  Drop me a message to arrange a meet-up.

Also, follow us at weXelerate for the latest on innovation.  We love bringing people together for our events. With 40+ innovators, including giants like Dynatrace, ING, and Santander, there's a lot to explore. Sign up for our upcoming events here: https://bit.ly/480EbXc

#innovation #strategy #leadership #ecosystem

Mar 25 · linkedin

How outperforming family-owned businesses build their legacy? 𝐒𝐩𝐨𝐢𝐥𝐞𝐫 𝐚𝐥𝐞𝐫𝐭: There's a formula for it.

People say 60% of family-owned businesses fail.  They fall into the same traps:

• Focus on creating value for shareholders over the long-term purpose • Confusing personal ties with professional ones • Assuming business runs in the family • Poor or no succession plan

But the other 40%?  They've been thriving for over a century. Like Levi Strauss and L'Oréal.

Successful FOBs account for more than 70% of global GDP and generate a turnover of between $60 trillion and $70 trillion annually.

So, what sets the successful FOBs apart?  McKinsey & Company analyzed 600 publicly listed FOBs and 600 non-FOBs, plus a survey of 600 primarily private FOBs worldwide.

Ad they revealed a secret for success:  𝐓𝐡𝐞 "𝟒+𝟓" 𝐟𝐨𝐫𝐦𝐮𝐥𝐚

4 𝘤𝑟𝘪𝑡𝘪𝑐𝘢𝑙 𝑚𝘪𝑛𝘥𝑠𝘦𝑡 • Prioritizing purpose over profit • Embracing a long-term view and reinvesting • Being cautious with debt and risky investments • Centralizing and streamlining the decision-making process

5 𝘴𝑡𝘳𝑎𝘵𝑒𝘨𝑖𝘤 𝘢𝑐𝘵𝑖𝘰𝑛𝘴 → Expanding portfolio beyond the core business → Dynamically reallocating resources to valuable areas → Enhancing capital efficiency and operational excellence → Relentlessly pursuing top talent attraction, development, and retention → Establishing robust governance for sustained high performance over generations

👉 Check out the full McKinsey & Company article for more insights: https://lnkd.in/dCuiZMiX

✅ Based on their analysis, I compiled a dos and don'ts checklist for building a successful family business.

You'll find it attached.

Applying these principles isn't simple.  It might even challenge why you started.  But the result will be worth the effort.

PS. Want to innovate your company? Join me for a coffee at our Innovation Hub in Vienna. Drop me a message to arrange a meet-up.

Also, follow us at weXelerate for the latest on innovation. We love bringing people together for our events. With 40+ innovators, including giants like Dynatrace, ING, and Santander, there's a lot to explore.

Sign up for our upcoming events here: https://bit.ly/480EbXc

#innovation #strategy #leadership #ecosystem

Related Questions

What inspired Awi Lifshitz to start weXelerate?
How has weXelerate evolved since its founding?
What are some key achievements of Awi Lifshitz at weXelerate?
What is Venturecake, and how does it relate to weXelerate?
What challenges has Awi Lifshitz faced in leading weXelerate?
Awi Lifshitz
Awi Lifshitz, photo 1
Awi Lifshitz, photo 2
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Location

Vienna, Vienna, Austria