The Innovation Ventures Group (IVG) at Kennametal leads growth into new markets and industries with innovative solutions based on novel technologies and business models. The IVG focuses on the pursuit of substantial opportunities beyond the reach of typical new product development. It often involves groundbreaking technologies and ventures that can help to fundamentally change the way we serve our customers.
IVG goes beyond the new product development phase-gate process by helping to lead Kennametal into new market spaces that may involve increased risk of failure, but substantially greater opportunities for growth. That is one of the key reasons why IVG uses a “Fast to Fail” model for evaluating a wide variety of business and technical opportunities.
Through close collaboration with other business segments, IVG leads new opportunities through the challenges of defining market requirements, building the business model, developing the technology, and addressing commercialization-related issues.
IVG takes a three stage, probe-and-learn approach to bring new business concepts through development.
Do YOU have what it takes to become an IVG Expert? Now’s the chance to find out!
Begin your journey HERE.