GrowthX Batch 9 Selected!
Congratulations to the four teams embarking on an exciting journey to turn their ideas into business growth!
Formerly known as Ideas2Reality, GrowthX is an innovation program at Intel China that helps our businesses grow inorganically and incrementally. Each year, we explore dozens of ideas and pick 10 best ideas to run through our award-winning acceleration program. Over the past 3 years, we have explored 500+ ideas, accelerated 40+ projects, landing 12 ideas into the market creating net new incremental revenues of $25M with an outlook of $278M over 5-year period.
GrowthX原名为Ideas2Reality，是英特尔中国的内部创新平台，旨在帮助英特尔实现无机商业增长。 我们每年会召集数十个创意并挑选10个最佳创意进入我们的加速计划。 在过去的3年中，我们探索了500多个创意，加速了40多个项目，将12个想法落地市场，创造了2500万美元的净新增收入，5年内的收益前景为2.78亿美元。
We are huge believers in the power of Intrapreneurship. We believe that small teams of inspired individuals given the right resources, tools and guidance can turn innovative ideas into successful businesses. This belief has been backed up by the solid impact we have made on the business as well as people over the past 3 years.
We give our employees the skillsets they need to build a validated business case on top of their technical ideas. We instill into them the mindset they need to think & act like entrepreneurs, as if they are the CEOs of their own companies. Lastly, we give them the connections and the resources they need in the ecosystem to continuously iterate and advance their ideas in a highly accelerated manner.
What we do?
We are an in-house accelerator of business ideas at Intel China. We use Lean Startup methodology to turn a technical idea into a validated business case that a business unit (BU) can bring to market. We are a platform to build minimum viable products, test & validate new business ideas in a lean & iterative way and help our BUs de-risk new product/ business launches.
GrowthX Accelerator is a 16-week action-learning program and consists of 8 individual sprints. Each sprint focuses on one particular aspect of business. A sprint is divided into half a day of group workshop and half a day of 1:1 coaching sessions called EIR (Entrepreneur In Residence) Check-Ins. We run 2 batches of acceleration per year with 5 teams forming each cohort.
In addition to training, mentorship and connections in the ecosystem, GrowthX provides seed funding to the teams in order to build a solid MVP (Minimum Viable Product). The outcome of the accelerator is a validated business case that we can bring to the BU and help them de-risk creating & launching new businesses.
Twice a year, we call goes out to all Intel China employees to submit their business plans to have a chance to enter the accelerator. Each batch receives between 30- 60 ideas. We invite top 15-20 ideas to a 2-day bootcamp where we’ll help them turn their vision into a crisp business pitch.
10-12 pitches make it to the “Selection Day” where the founders pitch their ideas to a jury drawn from various business leaders from across Intel China as well as external industry experts. In a week or two from selection day we announce the 5 teams that will form the batch of cohort.
Over the past 3 years, we have accelerated more than 40 projects. We do not have a set theme or criteria for categories that we accelerate. However, we have seen a natural tendency for projects to fall under the areas of strategic bets & growth for Intel especially- AI, FPGA, Vision Processing, new PC usages & Data Center technologies etc.
Smart Sensing Module
AI Machine Vision Solution
We are a lean team of 3 innovators on a journey to bring about change in the way we innovate at Intel China. Of course, we get immense help from amazing partners both inside & outside of Intel.
XNode, a leading startup and corporate innovation hub in Shanghai is our acceleration partner. They design and execute our acceleration program. GrowthX accelerator is run out of XNode in the heart of downtown Shanghai where our innovators spend one day per week living their startup dream.
The program is sponsored by Intel China President’s office and sits under China Corporate Strategy Office. Kapil Kane sets the overall direction & strategy; Rebecca Gu manages the overall program including partnership, communication and operation with support from Izzie Chen..
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