As a start, consider instituting “zombie amnesty,” whereby people can admit that their idea is too small, not strategic enough, or too riddled with difficult-toaddress risks to justify further funding. Make it clear that there will be no penalty for purging a project. In fact, hold a celebration to honor those who do. They’re heroes and should be treated as such.
One round of amnesty will probably release enough resources to get your innovation team up and running, although it’s a good idea to hold the exercise every couple of years to ensure that efforts haven’t wandered off course.