There are five key principles of agile innovation (Cohnreznick, 2020), which will be covered in a Venture Matrix context below. For the definitions of each principle, please see this infographic.

Digital First Example

1. Vision - this has been outlined in step 1 of this process, outlining how the scheme aims to be available to all students at Sheffield Hallam. However the scheme has limited resource, and the uncertainty around how students will engage with their degree courses adds additional complexities and workload.

2. Building Digital Customer Engagement - As student learning has shifted online, a 'Digital First' approach must be taken, to provide the best student and client experience. This takes into account the need for change, as students can't physically hold meetings together, due to Covid restrictions. However, technology can facilitate this change and help Venture Matrix staff to continue realising and working towards the scheme's vision

3. Secure Digital Platforms - To support the expansion and delivery of the Venture Matrix scheme, in relation to limited resources, staff must explore and employ relevant innovative digital platforms to solve stakeholders needs. For example, to resolve the resource intensive and costly process of facilitating students physically visiting their clients premises to understand the environment they work in, a virtual reality tour can be used as an alternative solution. (Please see the example tour on the left hand side. This allows students to virtually visit the clients premises, whenever they want and without cost or Venture Matrix interaction).

4. Drive Insight with Data - Any digital platforms utilised must be continually evaluated to understand their value. Analytics can be collected to understand stakeholder usage of each, whilst formal focus groups can uncover qualitative data from stakeholders to help understand stakeholder needs around what support they require. It is recommended that evaluations take place outside of term time, when resources are more flexible.

5. Embrace Digital Agility to Create Advantage - .

The Covid pandemic represents an external market change and digital agility can be used to create an advantage for Venture Matrix in this situation. Digital technologies can allow for the continuation of the work-related learning scheme, when it otherwise wouldn't have been possible to do so. Meetings can be facilitated on the Zoom platform, research undertaken by students online and outcomes delivered though file sharing platforms, such as Google Drive

Agile innovation must run parallel to the Venture Matrix team's Skills and Digital Capability, without which agile innovation can't be implemented. Click on the link below to learn more.