Corporate entrepreneur
Definition
A corporate entrepreneur is a person that works on developing new ideas and innovation projects inside an existing organization. They may be working with the explicit backing of management but also happen to work under the radar. A similar term, “intrapreneur”, is used interchangeably with corporate entrepreneur.
As corporate entrepreneurs are often working on new ideas that have not (yet) been formalized and resourced, they tend to work on similar terms as independent entrepreneurs: putting in extra hours, with a limited budget, and often beyond the normal operating limits. The advantage of being a corporate entrepreneur compared to an independent entrepreneur is that the personal risk is lower. Most innovation today comes through corporate entrepreneurship (link to article).
Related concepts
Innovation Challenge
An innovation challenge can be seen as an extended version of an idea campaign with a more ambitious topic, a wider reach in terms of participants, a greater communication effort, and a more ambitious process from ideation, over idea maturation, to pitching and awards ceremony…
Incubation
Incubation is the process of taking an idea from concept to an actual product, service or business and testing key-hypotheses about the concept to see, if the product can fit the market.
The early part of incubation is sometimes referred to as validation to clearly indicate that…
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