Innovation is a struggle for many corporations. As we struggle to emerge from the Covid-19 pandemic, McKinsey & Co. reports that only 21% of surveyed executives say they have the “expertise, resources and commitment” to achieve new growth in the next 12 months.
Traditionally, companies have relied on their corporate development teams to run their innovation mandate. This team examines potential candidates for merger and acquisition (M&A) deals to bring new businesses into the corporation. However, completing an M&A requires an immense amount of time and energy.
