Innovating via the VC model

There are a number of choices when it comes to building an innovation strategy. One is taking a page from the venture capitalist (VC) playbook. The genesis is two-fold:  make sure you assess both risks and benefits and take a portfolio strategy to implementation. The goal is to have the new IT effort stand on its own once it's running so that it doesn't draw resources from an organization's core IT program. According to one expert, using the VC model requires a disciplined governance process and a strong ability to manage outsourcing activity.

For more on the VC innovation approach:
- check out this column at Optimize