Harvard Case - SRS and the Defense Innovation Unit: Rethinking Procurement
"SRS and the Defense Innovation Unit: Rethinking Procurement" Harvard business case study is written by Paul A. Gompers, David Lane. It deals with the challenges in the field of Finance. The case study is 18 page(s) long and it was first published on : Mar 18, 2020
At Fern Fort University, we recommend that the Defense Innovation Unit (DIU) implement a multifaceted approach to procurement that leverages the strengths of both traditional government contracting and the agility of the private sector. This approach will involve a combination of financial analysis, risk assessment, and strategic partnerships to ensure the successful acquisition of innovative technologies while mitigating risks and maximizing return on investment (ROI).
2. Background
The case study focuses on the Defense Innovation Unit (DIU), a Department of Defense (DoD) organization tasked with accelerating the adoption of cutting-edge technologies from non-traditional defense contractors. The DIU faces challenges in navigating the complex and often rigid procurement processes within the DoD while simultaneously attracting innovative startups and small businesses. The case presents the challenges faced by SRS, a startup developing advanced sensor technology, in securing a contract with the DIU, highlighting the friction points between the two entities.The main protagonists are:
- SRS: A startup developing innovative sensor technology with significant potential for military applications.
- DIU: The Defense Innovation Unit, a DoD organization aiming to accelerate the adoption of new technologies.
- DoD: The Department of Defense, responsible for national security and defense.
3. Analysis of the Case Study
This case study can be analyzed through the lens of strategic partnerships, risk management, and financial analysis.
- Strategic Partnerships: The DIU needs to build stronger partnerships with startups and small businesses to access cutting-edge technologies. This requires building trust and understanding the unique needs and challenges of these companies. The DIU can leverage its access to government resources and expertise to provide support to startups, while startups can offer innovative solutions and agility.
- Risk Management: The DoD's procurement process is designed to mitigate risk, but this often leads to lengthy and bureaucratic processes that can stifle innovation. The DIU needs to find a balance between risk mitigation and the need for speed and agility. This can be achieved through financial analysis and risk assessment of potential investments, allowing the DIU to make informed decisions about which technologies to pursue.
- Financial Analysis: The DIU needs to develop a robust financial analysis framework to evaluate the potential return on investment (ROI) of different technologies. This framework should consider factors such as development costs, production costs, potential market size, and the potential impact on national security.
4. Recommendations
- Develop a Hybrid Procurement Model: The DIU should implement a hybrid procurement model that combines elements of traditional government contracting with more agile approaches, such as venture capital financing and strategic partnerships. This model should be designed to attract and retain innovative startups while ensuring the DoD's requirements for quality, security, and compliance are met.
- Establish a 'Fast Track' Program: The DIU should establish a 'Fast Track' program for evaluating and acquiring technologies from startups and small businesses. This program should be designed to streamline the procurement process and provide expedited funding and support to promising companies. This program should be supported by a robust financial analysis framework to assess the potential ROI of each investment.
- Create a Technology Assessment and Risk Management Framework: The DIU should develop a comprehensive technology assessment and risk management framework to evaluate the potential of new technologies and identify any potential risks. This framework should be used to guide the selection of technologies for acquisition and to develop mitigation strategies for identified risks.
- Build Strong Partnerships with Startups and Small Businesses: The DIU should prioritize building strong partnerships with startups and small businesses. This can be achieved by providing mentorship, technical support, and access to government resources. The DIU should also consider establishing a network of angel investors and venture capitalists to provide funding and expertise to promising startups.
- Develop a Clear Communication Strategy: The DIU should develop a clear communication strategy to effectively communicate its mission, goals, and processes to startups and small businesses. This strategy should include regular outreach to the startup community, participation in industry events, and the development of online resources to provide information about the DIU's programs and opportunities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The DIU's mission is to accelerate the adoption of new technologies for national security. These recommendations align with this mission by providing a framework for identifying, evaluating, and acquiring innovative technologies from non-traditional defense contractors.
- External customers and internal clients: The DIU's external customers are the startups and small businesses that develop innovative technologies. The DIU's internal clients are the DoD and its various branches. These recommendations address the needs of both groups by providing a mechanism for acquiring new technologies while ensuring the DoD's requirements for quality, security, and compliance are met.
- Competitors: The DIU faces competition from other government agencies and private sector organizations that are also seeking to acquire innovative technologies. These recommendations help the DIU stay ahead of the competition by providing a framework for attracting and retaining the best talent and technologies.
- Attractiveness ' quantitative measures if applicable (e.g., NPV, ROI, break-even, payback): The recommendations are supported by a strong financial analysis framework that considers factors such as development costs, production costs, potential market size, and the potential impact on national security. This framework allows the DIU to make informed decisions about which technologies to pursue and to assess the potential ROI of each investment.
- Assumptions: These recommendations are based on the assumption that the DoD is willing to embrace new approaches to procurement and that startups and small businesses are willing to work with the government.
6. Conclusion
The DIU faces a unique challenge in balancing the need for innovation with the requirements of the DoD's procurement process. By implementing a hybrid procurement model, establishing a 'Fast Track' program, and building strong partnerships with startups and small businesses, the DIU can create a more efficient and effective system for acquiring innovative technologies. This approach will help the DoD maintain its technological edge and ensure the safety and security of the nation.
7. Discussion
Other alternatives not selected include:
- Traditional government contracting: This approach is slow, bureaucratic, and often discourages innovation.
- Direct investment in startups: This approach can be risky and may not align with the DoD's procurement requirements.
The risks associated with these recommendations include:
- Resistance to change: The DoD may be resistant to adopting new procurement approaches.
- Lack of expertise: The DIU may lack the expertise to effectively evaluate and acquire new technologies.
- Security concerns: The DoD may have concerns about the security of technologies developed by startups and small businesses.
Key assumptions include:
- The DoD is willing to embrace new approaches to procurement.
- Startups and small businesses are willing to work with the government.
- The DIU has the resources and expertise to implement these recommendations.
8. Next Steps
- Develop a detailed implementation plan: This plan should outline the specific steps required to implement the recommendations, including timelines, resources, and key stakeholders.
- Pilot test the hybrid procurement model: The DIU should pilot test the hybrid procurement model with a small number of startups to assess its effectiveness and identify any potential challenges.
- Establish a communication strategy: The DIU should develop a communication strategy to effectively communicate its new procurement processes to startups and small businesses.
- Monitor and evaluate the results: The DIU should monitor the results of its new procurement processes and make adjustments as needed to ensure they are achieving the desired outcomes.
By taking these steps, the DIU can create a more efficient and effective system for acquiring innovative technologies, helping the DoD maintain its technological edge and ensure the safety and security of the nation.
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Case Description
SRS and the Defense Innovation Unit (DIU) follows the process by which SRS, a lean maker of remotely-operated submersible vehicles, navigates the DIU's acquisition process. Set up in 2015 to speed the U.S. military's access to promising commercial technologies, the DIU supports U.S. innovation while aiding early-stage ventures in multiple ways: with revenues via prototype agreements, with technology validation for potential investors, and potentially with sizeable production contracts. In 2019, the DIU was looking to augment this effort by investing in pre-prototype startups and commercialization efforts earlier in the technology development cycle, but its limited size and resources begged larger questions of how to build capacity and scale.
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