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customers and in such a bold vision, innovation is key.</p> <div id="social-icons" class="social-sharing-icons"> <a class="social-sharing-icon" target="_new" href="http://www.facebook.com/share.php?u=https%3A%2F%2Fthefoundation.gr%2Fproject%2Feurobank-iic%2F&title=Eurobank+Internal+Innovation+Competition"> <img src="https://thefoundation.gr/wp-content/themes/foundationth/media/svg/icon-facebook.svg" alt=""> </a> <a class="social-sharing-icon" target="_new" href="http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fthefoundation.gr%2Fproject%2Feurobank-iic%2F&title=Eurobank+Internal+Innovation+Competition&source=https://thefoundation.gr"> <img src="https://thefoundation.gr/wp-content/themes/foundationth/media/svg/icon-linkedin.svg" alt=""> </a> <a class="social-sharing-icon" target="_new" href="http://twitter.com/home?status=Eurobank+Internal+Innovation+Competition+https%3A%2F%2Fthefoundation.gr%2Fproject%2Feurobank-iic%2F"> <img src="https://thefoundation.gr/wp-content/themes/foundationth/media/svg/icon-twitter.svg" alt=""> </a> </div> <div class="single-post__featured-image"> <img width="1200" height="800" src="https://thefoundation.gr/wp-content/uploads/2019/05/DSF0172-e1588696042109.jpg" class="attachment-full size-full wp-post-image" alt="" decoding="async" fetchpriority="high" /> </div> </header>  <div class="single-post__main"> <h3>You never know how much talent you have, until you challenge them.</h3> <hr /> <p><span style="font-weight: 400;">Eurobank is one of the largest Greek banks and a dynamic financial institution with a presence in 6 countries, 653 service points in Greece and abroad and more than 13.000 employees. Eurobank鈥檚 vision is to become the most people-centric bank in Greece, by forging long-lasting relationships of trust with their customers and in such a bold vision, innovation is key.</span></p> <p><span style="font-weight: 400;">Found.ation in cooperation with the Innovation & HR departments of Eurobank, designed and implemented an Internal Innovation Competition program in order to improve and reinvent the way its clients are served as well as foster innovation across the organization.聽</span></p> <p><span style="font-weight: 400;">An Internal Innovation Competition (IIC) is a valuable business tool that harnesses internal knowledge in a company, sparks innovative ideas to its people and accelerates the development of new products and services. During a competition, teams are required to come up with a product or service solution and winners will be rewarded usually in funding. Typically, an extended period of outreach and a selection process is followed by an intense, 2-3 day long project building event, an innovation lab.<br /> </span></p> <p><span style="font-weight: 400;">An IIC is not about re-inventing the wheel and it鈥檚 not about technology as a standalone set of possibilities. And what we鈥檝e seen time and again in running an IIC鈥揳nd what usually surprises top management- is the focus and the quality of the ideas that the people inside an organization have and are ready to put in action.聽</span></p> <h5><span style="font-weight: 400;">How we worked with Eurobank:</span></h5> <ul> <li><span style="font-weight: 400;">Identified business challenges or complete business segments for disruption.</span></li> <li><span style="font-weight: 400;">Formed versatile teams with selected employees and external experts</span></li> <li><span style="font-weight: 400;">Organized project stakeholders and mentors to maximize the competition鈥檚 outcomes.</span></li> <li><span style="font-weight: 400;">Applied intensive curation and expert facilitation to orchestrate teams, ideas, and results.</span></li> <li><span style="font-weight: 400;">Supported the internal goals of winning teams</span></li> </ul> <p><span style="font-weight: 400;">Found.ation designed and managed the deployment of the competition, in order to set the path towards powerful new ideas. In this context, selected teams participated in a 3-day Innovation Lab where all their concepts received support and were further developed. On the last day, the selected teams pitched their project in front of a judging committee that voted for the final winners.</span></p> <p><span style="font-weight: 400;">In concluding this Internal Innovation Competition, we鈥檝e managed to capture novel ideas and built some prodigious prototypes of market-ready products 鈥搘hat is known as a Minimum Viable Product. As most good ideas come from unexpected places, an IIC is a great, short, albeit work-intense way to unlock the creative potential of the people that know the organization best. Ending such a competition usually means the ability to begin a new validated venture, in collaboration with the team that offered and worked on the idea.聽</span></p> <p><span style="font-weight: 400;">Indeed, the bank worked with some of the teams from the second IIC and integrated their ideas into their projects. The participants felt so accomplished that when the second innovation competition was announced, they re-entered with fresh ideas and lasting enthusiasm. Eurobank trusted us for the second consecutive year. We sure hope the resulting ideas will once again bear (innovative) fruits!</span></p> <p>Maria Leontiou, Head of Eurobank’s Innovation Center, stated:</p> <blockquote><p>I have been working closely with Found.ation team for over 4 years now in projects that aim to cultivate innovation both inside and outside the Bank鈥檚 borders. What Found.ation has brought in the mix, to start with, is their deep knowledge and network within the startup ecosystem, their creative ideas and their capability to address all of our requirements with a sense of urgency and a professionalism that each Corporate requires from a partner. I have been constantly impressed by their speed, efficiency, resourcefulness and polite manners that stand out throughout our partnership. 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