Innovators and entrepreneurs are no strangers to risk, which can wreak havoc on enterprises. The Risk Innovation Nexus provided online education and training resources that enabled individuals and organizations to think differently about risk, while integrating social and ethical responsibility into innovation and problem solving. 

The program provided time- and resource-constrained entrepreneurs and others with a unique toolkit for navigating “orphan risks,” those hard to quantify and easy to ignore risks that nevertheless have a habit of coming back to bite. Some orphan risks are familiar — risks to health, wealth and environment — while others are not. Examples include a growing array of social, personal and ethical factors that often confound conventional risk mitigation strategies. 

A keystone of the program, the Risk Innovation Planner, is a simple and effective way to identify and begin planning for orphan risks. When used over time, it is instrumental in developing a risk innovation strategy. Meanwhile, the Risk Innovation toolkit contains resources and activities that help develop a risk innovation mindset: case studies, hypothetical risk scenario cards, risk definition cards and more. 

Products and services included:

  • Education. A broad range of online education modules provided training in risk innovation concepts, tools and approaches to specific audiences.
  • Training. Teams gained risk innovation training through one-off and multiple workshops.
  • Consultancy. Services included an in-depth look at an organization, working with a team to identify areas of value to protect and grow, mapping an organization’s risk landscape and developing strategies and ongoing approaches to navigate risk. 
  • Partnerships.  Risk Innovation Nexus worked with partners to develop the project or program that best fit their needs. 

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Our programs for entrepreneurs at ASU and in the community provide guidance and support to help you move your venture to the next level.