... Recruiting new Amway Business Owners.
• Motivating ... Idea to Market (ITM) via Stage-Gate commercialization model.
Connecting innovators and takeholders to create usiness value
. Deepa Shenoy, PhD novation Strategy pen Innovation – New Technology Health & auty
[email protected]
• Leader in the CPG industry • Founded in 1959 • 80 countries and territories • 450 products focused on health, wellness & beauty • 15,000 employees worldwide • 5,000,000 independent distributors
Benefits to Amway’s IBO • Selling / Sharing the product • Recruiting new Amway Business Owners • Motivating higher renewal/retention rates • Generating personal volume
Where We Do Business
he First 25 Years
The Second 25 Years
bal R&D Facilities
Buena Park, California
Lakeview, California
trical Engineering hanical Engineering ess Engineering mical Engineering
Guanzhou, China
Ada, Michigan Shanghai, China
Areas of Functional Expertise Agricultural Research Product Development Package Engineering Industrial Engineering
Consumer Product Research Analytical Sciences Technical Regulatory Affairs Quality Engineering
mway Product Categories:
rition – Beauty – Home care – Personal care –Durables – Cookw
Amway India Founded in 1995 Headquartered in Gurgaon, HR 2 manufacturing sites and 7 contract manufacturing partners 130 products in all 5 product categories 13 years of commercial operation 135 offices, 55 city warehouses, 4 regional mother warehouses with the support of independent logistics partners over 5500 locations.
Our MISSION is to Discover, Develop & Deliver Products & Solutions for Independent Business Owners in Global Markets
Open Innovation (OI) New Technologies for Strategic Growth Opportunity Areas (SGOAs)
Connecting with people, companies and organizations internally and externally to develop creative solutions to meet business and consumer needs.
Who can be an Amway OI collaborator Internal Scientists and Technology Scouts Suppliers (ingredients, devices) Industry and academic researchers Branded product companies Entrepreneurs Investment groups
Potential Partners
Open Innovation Champion
Amway
Internal Stakeholders • Product Development • Technical Regulatory Affairs • Project Management • Procurement • Marketing and Communication • Sales and Distribution • Legal, Finance and Forecasting • Affiliates/ Sales/ IBOs/ Consumers • Manufacturing • Corporate Enterprise and Business Innovations Group
Championing the technology
Open Innovation Process Overview
time in discovery, due nce and strategy of ologies
of time in development of ologies
Technologies submitte to the OI team
Qualify for a feasibilit assessment
Considered breakthro “ideas”
Approved for funding and development
Enter the stage-gate development process
to Market (ITM) via Stage-Gate commercialization model BUSINESS PLAN
BUSINESS CASE
PROJECT PROPOSAL
PROJECT BRIEF
1st MARKET LAUNCH
Ideas
Ideas
CONCEPT DEVELOPMENT BUSINESS CASE DEVELOPMENT PROJECT BRIEF DEVELOPMENT
CONCEPT DEVELOPMENT
Ideas
PRODUCT DEVELOPMENT
VALUE CHAIN & SST’s
BUSINESS CASE DEVELOPMENT Ideas
CONCEPT DEVELOPMENT
Decisions
Ideas
Filters
OPEN INNOVATION CHAMPION EXPLORATION PRODUCT DEVELOPMENT
Pre-ITM Discovery Process is focused on next generation product solutions in market
echnology
Consumer Consumer Opportunity
Technology Solution Business Value
Business Value
Next Genera Product Port
Preliminary Technology Assessment PTA)
A measure to assess the maturity of evolving technologies prior to incorporating that technology into a product.
Technology Readiness Level (TRL – 1,2,3)
•Benefit or Solution
•Reason to believe or Mechanism of Action
•Nature of Evidence or Clinical Efficacy and Functionality
•Intellectual Property and Exclusivity
•Safety and Regulatory
•Market Assessment
•Commercial Viability
xample: Next Generation Technology for Curcumin
RL1 < TRL2 < TRL3 < pre-ITM< ITM to Market • What are the proposed claims and do they fit in the current technology plan? What is the competitive landscape? What is the cost to market? • Is there human data? Does the dosage used in the human study align with the animal research? Was the study blinded or was a control group used?How many participants were in the trial? Does the study population match your target population? How long was the trial?Were the results plausible? Where was the study conducted? Is the data published in a peerreviewed journal? • Is there a known mechanism of action for how the ingredient may impact your desired target? Can that mechanism be linked to a health benefit? Do the outcomes make sense? Were there any adverse reactions and do they link to the ingredients MOA? Do other ingredients with similar phytochemicals display similar benefits? How well dose the research support the proposed claims?
ternal Assessment For Technology Readiness
Reliability Testing
Shanghai R&D
Bioassay
Ag Research
Clinical Testing
Rapid Prototyping
Quality
Skin Imaging Lab
Sensory Testing
17 High-Impact Products in 55 markets since OI team was formed in 2005
Possibilities and Outcomes for OI partners • Access to new markets and/or channels • Long term supplier relation with Amway • Joint IP, Licensing Agreement, Option Agreement, Research Agreement, and/or Purchase Agreement • Access to Amway’s supplier network • Other Amway business opportunities
THANK YOU
Deepa Shenoy, PhD ovation Strategy en Innovation – New Technology
[email protected]
