Intrapreneurship, explained by Meredith Somers

TL;DR - Intrapreneurship brings entrepreneurship into corporations to help drive innovation.

Helpfulness - 4

Tags - Intrapreneurship, entrepreneur, startup, hackathon, innovation time

Questions answered:

  • What is intrapreneurship?

Summary:

  • 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.

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