The Challenge: Stalled Innovation in a Competitive Market

By early 2023, Asterion Electronics, a well-established consumer electronics company, faced stagnation in product innovation. Despite strong distribution networks and reliable quality, the company struggled to stand out in a highly competitive market dominated by global giants.

The challenges included:

1. Innovation Fatigue

   • Employees were accustomed to routine, incremental changes rather than breakthrough ideas.

   • Internal R&D lacked exposure to new design thinking methods.

2. Siloed Departments

   • R&D, marketing, and product development operated in silos.

   • Collaboration was minimal, leading to missed opportunities for cross-functional innovation.

3. Technology Gaps

   • Limited use of AI, IoT, and data analytics for product design.

   • Competitors were already integrating smart features in consumer devices.

4. Employee Engagement Issues

   • Creative talent within the organization felt underutilized.

   • Attrition risk rose among younger engineers seeking more innovative work.

5. Slow Go-to-Market (GTM)

   • Long product development cycles (18–20 months), reducing competitiveness in fast-changing markets.

The Solution: Inspire Edge’s Innovation Enablement Engagement

Asterion partnered with Inspire Edge’s Innovation Enablement team for a 10-month engagement to unlock creativity, foster cross-functional collaboration, and integrate technology-driven innovation into product design.

The 5-Step Innovation Enablement Strategy by Inspire Edge

1. Ideation Workshops & Design Thinking Bootcamps

• Conducted company-wide hackathons to source 1,200+ ideas.

• Trained 300 employees in Design Thinking and Creative Problem-Solving.

• Established an Innovation Hub as a central repository for ideas.

2. Cross-Functional Innovation Teams

• Formed Innovation Squads with members from R&D, marketing, and sales.

• Introduced a “Two-in-a-Box” leadership model pairing a technical expert with a market strategist for every product concept.

• Encouraged collaboration via innovation dashboards and shared KPIs.

3. Technology Integration for Product Development

• Leveraged AI-based analytics to predict consumer preferences.

• Piloted IoT-enabled smart devices for the home automation segment.

• Implemented rapid prototyping tools, reducing development time by 40%.

4. Recognition & Incentive Programs

• Launched a “Bright Ideas Award”, rewarding employees with cash bonuses and visibility at company town halls.

• Created a patent support program, funding employees to file IPs with company backing.

• Introduced innovation-linked career progression, motivating younger employees.

5. Accelerated Go-to-Market Strategy

• Introduced a stage-gate innovation process to streamline approvals.

• Reduced average product launch cycle from 18 months to 10 months.

• Piloted co-creation with customers, integrating feedback loops during prototype testing.

The Impact: From Incremental Change to Breakthrough Innovation

Within 10 months, Inspire Edge enabled Asterion to transform its innovation capability into a structured, repeatable, and impactful engine.

Key Achievements

• 1,200+ ideas generated, 65 shortlisted, 12 moved to prototyping.

• First IoT-based smart appliance line launched within 10 months.

• 22% faster collaboration cycles through cross-functional innovation squads.

• 17 patent applications filed, compared to 2 in the previous 3 years.

Revenue & Business Impact

• Launched 3 new smart devices in Southeast Asia, generating ₹950 Crores in the first year.

• Market share in premium home devices rose from 8% to 14%.

• Employee engagement in R&D improved by 28%, with attrition reduced by 15%.

• Brand perception surveys showed a 36% increase in consumer recognition for innovation.

Conclusion: Innovation Enablement as a Business Accelerator

Inspire Edge’s structured Innovation Enablement engagement helped Asterion Electronics move from incremental product updates to market-leading innovation. The transformation not only improved financial performance but also rebuilt the company’s image as a future-ready, technology-driven leader.

This case demonstrates three essential lessons for companies aiming to unlock innovation:

1. Innovation thrives on cross-functional collaboration—break silos to accelerate impact.

2. Employee creativity is a strategic asset—it must be nurtured, rewarded, and scaled.

3. Technology integration accelerates time-to-market and strengthens competitive positioning.

Through Inspire Edge’s support, Asterion built an innovation culture that blended creativity with technology—ensuring sustainable growth in a highly competitive industry.