Maintain senior leadership engagement
Keeping senior business and functional leaders interested and supportive is obviously important, but difficult to achieve. We establish “incubation boards” made up of senior executives who engage with and advise incubated businesses. This engagement is critical for maintaining air cover for incubation.
Provide shared operational support
We form a small and low-cost shared “operational concierge” team to assist new businesses, so that business teams can focus on their core competencies rather than expend a lot of time navigating the parent company teams and processes. These operational concierges are extremely knowledgeable about the parent company’s functions, tools, and processes, and incubated businesses regard them as a valuable resource.
Simplify core business processes
We collaborate with many core functions, such as IT, finance, and human resources, to define simplified approval and integration processes for new businesses. In IT, for example, we established a small New Business Incubation team that developed a simple IT stack to help businesses get off the ground quickly.
With this ambidextrous approach, HP has been experimenting and innovating, resulting in several potentially major initiatives. We’re pursuing unmet needs in industries ripe for disruption and creating an environment in which to innovate, experiment, and eventually fill the needs we’ve identified.
HP is disrupting multiple industries with this strategy. For example, it’s helping to produce the first fully compostable, plastic-free paper bottles with Choose Packaging. And HP is poised to significantly expand access to customized orthotics using 3D printing with the Arize solution, while the new Metal Jet S100 solution is delivering high-quality final parts at scale across industrial, consumer, healthcare, and automotive markets.
By incubating these and other disruptive businesses within HP, we’ve discovered specific capabilities in both the “unleash” muscle and the “enable” muscle that are absolutely critical to success — and which will create lasting value for our customers, shareholders, people, and planet.