Intrapreneurship involves individuals or groups of individuals exploring high-risk, high-reward ideas within the safety and support of a larger, well-established corporate structure. Most large corporations are not set up to provide the agile and creative environment that fuels the intrapreneurial spirit and therefore stifle innovation.
As part of a larger engagement with Michelin North America, we launched an internal innovation competition with an opportunity for employees to receive seed funding for new business solutions. This event allowed us to develop a solution for corporations to identify and maximize intrapreneur talents, increase employee engagement and diversity, identify and invest in innovative solutions and effectively track and measure success.
Increased Employee Engagement
- Friendly competition catalyzed employees to identify internal pain points & propose solutions that will save Michelin money as well as create new revenue sources
- Cross-departmental teamwork & collaboration gained Michelin new perspectives, increased diversity & created lasting employee relationships
- Employees were empowered to make a positive impact when given an avenue to deliver new ideas & create shared experiences
Fostered Intrapreneurial Talent
- Through the volume of participation Michelin was able to identify & activate corporate intrapreneurs
- Our platform allowed corporate leadership to invest in new business solutions & expand offerings
- Pairing intrapreneurs with a diverse group of colleagues in a creative environment supported by entrepreneurs ensured the creation of well-rounded solutions
Data Collection, Trackability & Successful Outcomes
- Employee participation & engagement was tracked & analyzed to help Michelin better understand their unique environment
- Access to data on milestones, pain points, solutions, return on investment, etc. that were tracked in our online platform allows them to have a more detailed view of corporate impact & success criteria
- Able to support innovation focused initiatives worldwide with this scalable and sustainable model