I’m still hooked on the idea of developing an innovation management platform … I think this might just be a big software category in 3-4 years from now .. and in order to be a leader one have to start today - and do it right (it’s really difficult to build a successful software company).

Anyhoo, I stumbled across this great post (via the awesome folks at Nosco) on how to measure “innovation performance” and which metrics to focus on:

Input metrics:

• Number of ideas generated
• Resources allocated to innovation - people and budget

Process Metrics

• Average time from idea approval to implementation
• Number of ideas approved and number implemented
• Stage-gate pass rates
• Value of the innovation pipeline

Output metrics

• Number of new products or services launched
• Revenue from new products or services
• ROI on innovation spend
• Market Perception
• Number of new customers