Co-Creating a New Approach to Innovation

There are many approaches to corporate innovation, such as the stage-gate model, design thinking, open innovation, and the lean startup methodology. Each of these approaches puts the company or its customers at the centre, creating value for the company, while overlooking broader societal impact.

The ambition of Innovation North’s Lab was to co-develop an approach to innovation that puts business and society on equal footing – creating value for both simultaneously. This approach to innovation motivates employees, stimulates creativity, promotes resiliency, and generates revenues for longer.

From 2019 to 2024, Innovation North brought together leaders from 30 of Canada’s leading organizations, who we call Practice Partners, and researchers from the Ivey Business School to collaborate on innovating the corporate innovation process. By integrating a systems perspective, the Lab aimed to address the limitations of traditional approaches.

Across the 21 sessions of the Lab, we invited world-class speakers to share their thought leadership on topics related to innovation and systems thinking. This document recaps the Lab’s journey over the last five years and shares some key takeaways from each of these sessions.