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Reid Hamilton

Managing Director

Highlights

May 29 · linkedin

Hey to all the founders and investors in my network, 43North, an accelerator in Buffalo, NY is about to close applications for there next cohort. Apply for your chance to secure a $1M investment, 1-1 mentorship, connections to investors, free office space, and so much more.

This is a really cool program that attracts some of the best early-stage companies across the country, and world!

Tag a founder if they are:

Pre-seed/Seed stage companies Founders with domain expertise and a strong team Companies with a ready-to-ship product and traction with customers Revenue or a clear path to revenue within 12 months

Applications close June 7th, 2024. https://lnkd.in/guUQkQPj

Mar 31 · linkedin

Two weeks ago, I touched upon two significant barriers to corporate innovation: underappreciation of risk profiles and the challenge of sticking to the lengthy timelines innovation demands. I promised to share some strategies I find helpful for navigating these challenges, but before diving into that, I want to address a foundational piece that is often missing —knowing your "why."

This insight, credited to my good friend, Jeremy Kagan, and his co-author Jules Miller in Designing the Corporate Accelerator, emphasizes aligning innovation programs with their core motivation. Probing this "why" often reveals clarity gaps beyond PR speak. Perhaps an EVP made an offhand comment in a meeting once, and the team ran with it, or there was a foundational reason at the start, but several reorgs later, that no longer aligns with the current mission, and people are afraid to speak up in case their project (and their job!) get cut in the process. It’s within this context that we must consider how to firmly root our innovation efforts in clear, long-term goals, despite inevitable shifts in leadership and market dynamics.

I propose a strategy drawn from game theory: precommitment. By designing your innovation strategy to limit future options, it ensures all stakeholders align from the start. This "why" becomes a North Star, guiding beyond fleeting trends.

To credibly commit to innovation, consider these strategies linked to multiyear contracts, which can be adapted based on goals and corporate culture and taken individually or in combination:

  1. Board oversight of innovation
  2. A dedicated innovation capital fund
  3. Public commitments to innovation progress
  4. Creating an independent subsidiary
  5. Forming joint ventures with complementary goals
  6. Partnering with Venture Studios or VCs

All of these have major challenges that need to be addressed upfront, but if structured correctly they can signal a long-term commitment to an innovation strategy that a program that sits 7 layers below your executive team never can.

Continuing with my tradition of posting media mostly as an excuse to share images from my trip, here’s a bunch of seals (or are they sea lions?) in Oceanside. I’ll leave it to the reader to decide if this is a metaphor for corporate innovation groups or not. 😊

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