TL;DR - Intrapreneurship brings entrepreneurship into corporations to help drive innovation.
Helpfulness - 4
Tags - Intrapreneurship, entrepreneur, startup, hackathon, innovation time
- What is intrapreneurship?
- Intrapreneurship is when an employee works like an entrepreneur within an established company.
- The Post-It note is a famous example of intrapreneurship.
- Entrepreneurship is looked at as a way of creating value, not necessarily a startup.
- Intrapreneurs have access to their parent company’s resources and are not risking their own money.
- Intrapreneurship have less flexibility.
- Methods of incentivizing intrapreneurship include idea fairs, hackathons, sandbox funds, and innovation time (e.g. Google’s “20% time”).
- It is important for companies to have large portfolios to account for expected failures.
Follow up links:
- Examples, https://www.virgin.com/entrepreneur/be-inspired-five-brilliant-examples-intrapreneurship-action
- Google’s 20% time, https://www.businessinsider.com/google-20-percent-time-policy-2015-4#:~:text=Founders%20Larry%20Page%20and%20Sergey,be%20more%20creative%20and%20innovative.
- Hackathons, https://www.apa.org/science/about/psa/2020/03/hackathon