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METI Releases the Innovation 100 Committee Report

In order to remove the paradigm that “Innovation cannot take place at large companies,” the Ministry of Economy, Trade and Industry (METI), under the Venture Business Creation Council, established the Innovation 100 Committee, whose members are corporate managers from large Japanese companies who are making pioneering efforts for innovation. From October 2015, the Committee conducted round-table talks and interviews with 17 corporate managers and compiled them as a report on how the form which management of large corporations should take in order to create innovation.

1. Outline

In order to promote cooperation between large companies and venture companies, METI established the Innovation 100 Committee [Chairperson: Mr. Kunitake Ando, former President and COO (Representative Director) of Sony Corporation] under the Venture Business Creation Council, which was launched in September 2014.

For this Committee, METI, the Japan Innovation Network (General Incorporated Association) and the World Innovation Lab (WiL) have served as secretariats, and since October 2015, corporate managers from large Japanese companies who are making pioneering efforts for innovation have discussed the form which management should take in order to have continuous innovation.
Specifically, the Committee conducted round-table talks and interviews with the managers of the companies listed in the Attachment(PDF:33KB) PDF Fileand compiled them as the Innovation 100 Committee Report, based on the discussions and statements of those managers and the overall management issues and action guidelines that are derived from the contents of those discussions and statements.

This Report was released during an event called the “New Business Creation Conference & Connect!”, held on February 26, 2016, where managers of large companies from this Committee also had a panel discussion.

The Innovation 100 Committee will continue to contribute to the acceleration of innovation at large companies by continuing the activities mentioned below. Moreover, by coordinating with other efforts made, such as those of the Japan Open Innovation Council under the New Energy and Industrial Technology Development Organization, the Committee will keep expanding its involvement in innovation throughout Japan.

2. Activities of the Innovation 100 Committee

  1. Share information: In order to create innovation, the Committee managers will share information among themselves on their understanding of the competitive environment, the roles of management, and specific successful cases of organizational and system reform.
  2. Disseminate action guidelines: Based on the information described in item (1), Japan’s large companies shall update their action guidelines as necessary to increase their creativity and foster innovation and disseminate information domestically and internationally to obtain supporters.
  3. Propose policies: The Committee shall propose policies which can break through systemic problems that stand in the way of innovation in companies.

3. The compiled Report (see Appendix for details)

In addition to expressing the participants’ shared idea that “in order to create innovation, corporate managers’ proactive commitment is essential,” the Report has compiled management issues that need to be resolved in order to allow global companies to continuously create innovation and action guidelines to overcome those issues. In addition, 100 questions for corporate managers are included in the report, in order to lead them to specific actions.

Five action guidelines for business managers to take steps toward innovation

  1. Predict changes and disseminate and resolutely implement a vision for reform.
  2. Realize a two-level management system integrating both efficiency and creative thinking.
  3. Establish a system for creating new business based on value.
  4. Develop an environment where employees can freely repeat the process of trial and error.
  5. Promote cooperation across barriers inside and outside of organizations.

Appendix

Release date

February 26, 2016

Division in Charge

  • New Business Policy Office, Economic and Industrial Policy Bureau
  • Innovation and Industry-University Collaboration Division, Industrial Science and Technology Policy and Environment Bureau

Related Information

Industrial Finance

Last updated:2016-03-22
Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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