Innovatrium Company Profile

Background

Overview

Innovatrium, established in 2008, is an innovation consulting firm headquartered in Ann Arbor, Michigan. The company specializes in fostering organizational culture, competency, and community to drive sustainable growth through innovation. Innovatrium operates as a collaborative hub, integrating thought leaders, practitioners, and research to develop highly practiced innovation leaders capable of managing and leading innovation initiatives within their organizations.

Mission and Vision

Innovatrium's mission is to democratize innovation by empowering organizations to solve their own problems and drive organic growth. The vision is to create a sustainable innovation ecosystem within organizations, enabling them to become the driving force behind their own success.

Industry Significance

As a leader in innovation consulting, Innovatrium plays a pivotal role in helping complex, process-driven companies develop internal innovation engines. By focusing on building innovation capabilities from within, Innovatrium contributes to the broader business consulting and services industry by promoting sustainable growth and adaptability in a rapidly changing market.

Key Strategic Focus

Core Objectives

Democratizing Innovation: Empowering organizations to develop internal capabilities for innovation, enabling them to address challenges and seize opportunities independently.

Building Innovation Ecosystems: Establishing comprehensive systems that include trained innovation leaders, customized processes, and vibrant networks to support continuous innovation.

Areas of Specialization

Innovation Training and Development: Providing programs like the Certified Professional Innovator (CPI) Program, which is certified by the University of Michigan, to develop highly practiced innovation leaders.

Innovation Assessments and Analytics: Utilizing models such as the Innovation Genome to assess and enhance companies' innovation practices, culture, and competency.

Project Jumpstart: Assisting organizations in initiating and accelerating innovation projects to achieve impactful results.

Key Technologies Utilized

Innovatrium employs a range of methodologies and tools to facilitate innovation, including AI-driven tools for rapid prototyping and solution development. These technologies support their structured innovation processes and training programs.

Primary Markets Targeted

Innovatrium primarily serves large and complex organizations across various industries, including Fortune 500 companies, community leaders, and governmental agencies. Their services are tailored to meet the unique needs of each client, fostering organic growth through innovation.

Financials and Funding

Funding History

Specific details regarding Innovatrium's total funds raised and recent funding rounds are not publicly disclosed. The company operates as a private entity, focusing on providing consulting services to its clients.

Notable Investors

Information about individual investors or venture capital backing is not publicly available. Innovatrium's growth and operations are primarily supported through its consulting engagements and partnerships.

Utilization of Capital

While specific utilization details are not disclosed, it is reasonable to infer that Innovatrium invests in developing and enhancing its innovation programs, training modules, and technological tools to better serve its clients.

Pipeline Development

Key Programs and Initiatives

Certified Professional Innovator (CPI) Program: A comprehensive training program designed to develop highly practiced innovation leaders through a combination of online components and action-learning projects.

Project Mercury: A collaboration with the U.S. Air Force to instill innovation culture, competency, and community within military organizations, building adaptive teams capable of outpacing competitors.

Target Conditions and Timelines

Innovatrium's programs are designed to address a wide range of organizational challenges related to innovation, including cultural transformation, process optimization, and leadership development. Timelines for these initiatives vary based on the specific needs and goals of each client.

Technological Platform and Innovation

Proprietary Technologies

Innovation Genome Sequencing Model: A proprietary model that measures a company's innovation DNA, assessing the ability to create new products and ideas and deliver meaningful shareholder value through their deployment.

Significant Scientific Methods

Competing Values Framework (CVF): A foundational model developed through over 30 years of research, recognized by the Financial Times as one of the 40 most important frameworks in business history.

See One, Do One, Teach One (SODOTO): An action-learning principle that emphasizes learning through observation, practice, and teaching, akin to the apprenticeship model used in medical education.

Leadership Team

Key Executives

Jeffrey DeGraff: Known as the "Dean of Innovation," DeGraff is a seasoned consultant, professor, author, and speaker. He has been instrumental in democratizing innovation and teaching organizations how to innovate.

Staney DeGraff: Co-founder and partner at Innovatrium, contributing to the development and delivery of innovation programs and consulting services.

Leadership Changes

Specific details regarding recent leadership changes or appointments are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The innovation consulting market is characterized by a growing emphasis on internal capability building, with organizations seeking to develop sustainable innovation processes. This trend reflects a shift from external dependency to fostering in-house innovation competencies.

Competitor Analysis

Innovatrium operates in a competitive landscape that includes firms like Innosight Ventures, MIT Office of Innovation HQ, and Harvard Innovation Labs. These organizations also focus on fostering innovation within companies but may differ in their methodologies and target audiences.

Strategic Collaborations and Partnerships

Innovatrium has engaged in strategic collaborations, such as the partnership with Haworth Inc., to create high-performing work environments. These partnerships enhance Innovatrium's capacity to deliver comprehensive innovation solutions.

Operational Insights

Innovatrium differentiates itself by focusing on developing clients' internal innovation capabilities, enabling them to become self-sufficient in driving innovation. This approach positions Innovatrium as a valuable partner for organizations seeking sustainable growth through internal innovation.

Strategic Opportunities and Future Directions

Strategic Roadmap

Innovatrium aims to expand its reach by leveraging its technological infrastructure, including platforms like Cloudflare CDN and WP Engine, to scale services regionally and internationally. This expansion will allow Innovatrium to cater to a broader range of clients seeking innovative solutions.

Future Business Directions

The company plans to continue enhancing its innovation programs, integrating advanced technologies, and forming strategic partnerships to strengthen its market position and deliver value to clients.

Opportunities for Expansion

By targeting mid-sized firms and tailoring services to their specific needs, Innovatrium can capture a niche market segment and establish itself as a go-to consultancy for sustainable innovation strategies.

Positioning for Future Objectives

Innovatrium's focus on empowering organizations to develop their own innovation capabilities positions it well to achieve future objectives, including expanding its client base and enhancing its service offerings.