Whilst Google has also adopted the above approach for their core businesses. They also have Google X, Google’s secretive labs, which takes a completely different approach to driving innovation. It aims to build entirely new businesses distinct from the existing business and in completely new areas.
It is also kept separate from the existing business so culturally different - though at this early stage, it is unlikely to be a culture which leads to successful businesses so as a project shows potential, Google spins it out of the lab.
Timing is again important.
This is something Google seems to have got right as each phase of a business requires a culturally different approach. For years, Microsoft was great at filing patents and less so at turning those patents into successful businesses.
Nevertheless, it is rare that an idea itself translates immediately into a successful business. Often, ideas circle around a big new opportunity from different angles. Finding your way to that successful opportunity is often a journey filled with hard decisions that are so risky that only those completely blinded by love for something or whose startup’s very survival is on the line can make.
The early success of Waymo, Google’s self-driving car suggests this is not always the case though.
For a deeper look into Google X, its successes and failures, the Atlantic has a deeper look and is well worth a read here