AGP Support: Innovation Management, Innovation Scouting
Industry: Automotive & Mobility, Machinery & Equipment
Industry: Automotive & Mobility, Machinery & Equipment
Innovation Funnel Management for Automotive Precision System Manufacturer
Client
A leading manufacturer of precision systems for the automotive industry sought to establish a structured innovation process in China.
Situation
The client wanted to grow its revenue in China by developing new ventures in expansion markets. They required a systematic approach to building a funnel of innovative ideas, validating product-market fit, and launching new ventures. The goal was to engage external partners to accelerate development and mitigate execution risks while testing this approach via a pilot initiative.
Approach
Asia Growth Partners worked closely with the client’s innovation team to design and implement a structured innovation funnel.
- Generate ideas through internal interviews and refine hypotheses based on market feedback.
- Validate these ideas by interviewing customers and domain experts to test assumptions.
- Prioritize the most promising ideas for MVP development and product-market fit testing.
Results
- The funnel process generated 26 new ideas in the first three months of operation.
- Four of these ideas were prioritized for MVP development and market testing based on their potential.
- The process was scaled beyond China and implemented in the client’s German headquarters to drive global innovation efforts.
