I recently met some people form Digital Catapult UK. I was blown away by their core value of ‘open innovation’. The ‘openness’ comes comes with inherent risks and benefits that both sides must understand, but it is designed to encourage ‘serendipitous innovation’. In a world of patents and trademarks, they believe: “You can benefit from ideas that you do not own.”
He had a beautiful quote that I think describes what innovation teams within large organisations should do:
“We are here to start movements that will grow on their own. We are here to create self-sustained ripples.”
ABOUT Digital Catapult: a not-for-profit organization with a trading division. They have been tasked with a target of growing the British Economy. They started from scratch 18 months ago and are primarily funded by Government, but their goal is to have a third of their income come from the industry to balance out their dependency on any one body.
- Industry needs to “bring challenges to them”
- Connected to 2,500 innovators (new name for start-ups and entrepreneurs)
- Digital Catapult run about 1-event per day and their target is innovators
- They can also doo proof of concept/product prototyping
- They are located in the R&D quarter (King’s Cross)
Their Innovation Focus is on how companies get value from their data (including secondary/tertiary value from data) in these four areas:
- Personal data (Banking, browsing)
- Closed corporate data (banks, new value)
- Licensed data (Creative content, IP)
- Machine generated data (IOT)
You should check them out and their work in the UK innovation space!