Accelerating innovation with startups to make lives better though technology
Nokia’s vision is to expand the human possibilities of the connected world and this is a vision that truly inspires me. Why? Because we are at a point in our industry where massive disruption is coming.
Digitalization is the next industrial revolution and the automation of everything will drive the next phase of human possibilities. People will be able to connect with media, objects or a person anytime and anywhere. While the past has been about connecting people, the future will be about connecting people and things.
Bell Labs Consulting recently predicted that the number of IoT connected devices is expected to top 46 billion by 2020. Think about it; that’s only four years from now! The question for large companies is: can they innovate fast enough to keep up? Often the answer is no and that’s why open innovation models involving start ups are critical for accelerating innovation.
At Nokia, one of the programs we have to engage with the startup community and accelerate innovation is the Open Innovation Challenge and this year’s edition has just been launched for the fourth year running. The challenge is open to innovators worldwide who are developing the technologies of tomorrow in the Internet of Things domains of public safety, connected automotive, industry 4.0, digital health, utilities, security and smart cities. The challenge is organized in partnership with venture firm Nokia Growth Partners, which recently announced a US $350 million fund for IoT investment.
Here’s a short video clip:
This is our opportunity to invent the future together and make lives better through technology, which is the theme of this year’s challenge. If we take connected automotive as an example, we know that the day we manage to achieve this we will save many lives. For me it’s fascinating that we are still discussing about whether we want automated driving or not. Imagine how many lives we could save over the next 10 years. We need to think big and we need to think forward, right?
There is also so much we can do to make lives better if we develop other IoT use cases to make smart cities more sustainable; smarter and faster healthcare and public safety applications that will save lives. It’s up to us to invent the future in this remarkable race of digitalization and automation.
After the initial submission period, the top 15 selected teams will participate in a two day workshop and award ceremony in Paris in October. The finalists will have the opportunity to join an innovation acceleration program and the top three teams will share incubation prize money of €100,000. This is also a great opportunity for innovators to access Nokia’s resources, get feedback on their projects and meet investors.
I’m truly excited by the opportunities to accelerate innovation and make lives better though technology. If you share this excitement and have a project that could qualify, I encourage you to apply.
Visit our Open Innovation Challenge webpage to find out more.
Submit your innovation via our idea collection campaign until August 15, 2016.
And here are last year’s winners.
Share your thoughts on this topic by replying below – or join the Twitter discussion with @nokianetworks or @nokia using #innovation #futureworks #IoT