Innovate Platform
The world is changing at in fast pace and companies need to move with the changing
environment to be effective in their business and to increase profit shares. This is the reason for
the importance of an innovation platform. There are numerous innovative platforms designed to
cater to the company as well as customer need. Open innovation is the new frontier in the
development of society and companies.
An innovation platform is a space for getting knowledge and bringing change. It gathers people
from different backgrounds such as farmers, traders, researchers, government officials, and food
processor, etc. and gather ideas from a heterogeneous group of people and further developed
them into innovations. It promotes collaborations for societal benefit. Innovation platform
tackles different challenges and it is a critical part of the corporate world. Numerous startups
have been set because of the better implementation of new concepts and ideas gathered at one
place. There are two types of innovation platforms namely technical open innovation platform
and Idea management platform.
Different type of innovation prevails that include Employee innovation, Customer innovation,
Partner/supplier innovation, Competitor innovation, and Public innovation. For example,
companies such as Coca-Cola use 3M innovation. Apple and Microsoft also lead the innovation
that provides 100 percent transparent open source software innovation to meet the need of the
customer. Toyota, implemented a " Creative Ideas Suggestive System” and contribution is taken
from all employees to better manage the innovation. Samsung is the biggest company with a
major area in R&D and also has collaboration with startups for open innovation. Four categories
of open innovation are practiced by Samsung: partnerships, ventures, accelerators, and
acquisitions. The major goal of an innovative platform is to help companies come together,
gather ideas from their employees, and evaluate each idea individually. Then, good ideas can be
deployed to the market more quickly, allowing them to increase productivity.
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To choose the right innovation method following matrix criteria is utilize:
Technological Solution: To bring open innovation in technical solutions a production process is
taken as a basis.
Product improvement: The aim is to improve an existing product from the buyer's and user's
point of view.
Product innovation: This is about finding ideas and concepts for entirely new products for the
company or on the market.
Business model innovation: The business model innovation is more comprehensive and concerns
the customer benefit, it foresees the value-added services for the customers up to the satisfaction
level and how to make profits.
Service innovation: Service innovations can relate to services that the company sells directly or
additional and improved services for products and projects.
Ideas and Inspiration: This classification is the general search for ideas and approaches that in
turn inspire concrete ideas. For example, an internally organized ideas competition provides
many ideas that often cannot be implemented directly but can be the inspiration for further
innovation.
Benefits of Innovation Platform
It facilitates mutual trust among stakeholders and helps to create the vision among sponsors.
It helps to identify the problems hindering the innovation and develop solutions through mutual
consent.
Innovation platforms create opportunities for research to be demand-driven, to disseminate
research outputs, and to find critical issues for investigation.
By improving ideas, communication, learning, and exposure to new people, innovation platforms
help members to clarify their roles, adapt to unforeseen changes, and organize themselves.
Social innovation platforms provide new ideas that meet social needs, create social relationships,
and form new collaborations.
Conclusion
The idea generation innovative platform is productive and is the need of time to facilitate this
platform. As the world is moving into the digital age in which these innovations are essential to
keep pace with the changing environment. It has major benefits and keeps the company and
customers satisfied with the profits and societal gains.
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