Industrial power, start-up spirit
Koç Group’s innovation strategy is based on the following principles:
- Building a culture of innovation and creating the right working environment to enhance our innovation capacity,
- Cultivating the corporate entrepreneurship (“Intrapreneurship”) across the Group, and supporting employee entrepreneurial dispositions and efforts,
- Extending innovative endeavors not only across product and service development activities, but also towards all business units and operations,
- Increasing partnerships with external stakeholders, an important source of innovation, and managing such collaborations in a more efficient manner,
- Managing innovative operations within specific processes to ensure their sustainability.
In order to implement its innovation strategy, the Group launched the Koç Innovation Program in 2013. As part of this program, innovation management systems are either built up or enhanced at Koç Group companies. These systems are established in line with the Innovation Management Model, devised by Koç Group according to its specific needs.
As part of the Corporate Entrepreneurs program, the key force in putting innovation into practice, are supported with various training programs, mentors, new project management techniques and awards. Great emphasis is placed on “Corporate Entrepreneurship (Intrapreneurship)” efforts. Furthermore, a lot of activities are conducted on “Business Model Innovation”, a key area of innovation, as well as on increasing the “Open Innovation” capacity. In innovation projects which are carried out as part of this program in Koç Group companies, working methods similar to start-ups are encouraged and thus commercialization periods and costs are cut drastically. Thanks to all these efforts, the Group aims to enter new markets and grow, build the culture of innovation in companies and cultivate Corporate Entrepreneurs.
Under the Koç Innovation Program, the innovation management systems of Koç Group companies are enhanced and the innovation competencies of Koç Group companies are monitored on an annual basis and developed through the Koç Innovation Index.