Challenges to innovate in 2023
2023 is knocking on the door with new challenges and, once again, executives will need to innovate!
We live in constant transformation. The evolutionary process of life, in general, reinforces that people, actions and behaviors need to evolve and adapt. Innovation is, therefore, a characteristic common to everything and everyone , and which will always be fostered based on new challenges facing society.
When we look at the things that surround us on a daily basis, for example, smartphones and other technological devices, we always feel that nostalgia for the first contact with a cell phone. Today, our cell phones represent an extension of us. Through it, we managed to do many things at the same time. Buy, pay, track, call, like and so on.
The example of the cell phone is just the tip of how everything around us has been evolving and transforming in a surprising way. New meanings, new functions, different approaches. Each person, each device, is transformed.
Challenges to innovate in 2023
The need for transformation and adaptation is motivated when a new challenge is put on the table. Nowadays, these challenges are daily and this explains why open innovation, based on ecosystems, is the solution to meet these market paradigms. We separate the main challenges to innovate in 2023, check it out:
Plurality of market solutions
Today, the connection possibilities are endless. We have 7,000 corporations and 25,000 startups that form our open innovation ecosystem and seek to collaborate for innovation. Thus, the executive, leader and innovation manager will be faced with thousands of solutions, which is very good, as it shows how the startup ecosystem is vast and full of opportunities, but, on the other hand, there will be the difficulty of making connections high impact.
How to find the right startup for your corporation? Where to find? How to identify it? And how to generate value from this connection?
For executives who are not yet actively present in the innovation ecosystem, the challenges of innovating in 2023 are likely to become even more complex. Linear models of open innovation, at this moment, no longer make the same sense as they did a short time ago. To move forward and produce results, corporations that are leading these innovation processes through collaboration have started to adopt Ecosystem Management models .
Thus, actively participating in the innovation ecosystem has become essential for executives to connect with both other executives and entrepreneurs. It is in the network that exchanges take place, it is in the innovation ecosystem that value propositions are generated.
That is, to stand out in the coming years, executives must know how to play the ecosystem game: how to access, monitor, attract, contribute, create and capture value of what is demanded and produced by the innovation ecosystem.
Continuous and networked training
Innovation training is a way to stay up-to-date on emerging trends. It is necessary to understand processes, route changes, which approaches work and which don’t, which are the best practices to generate value and which are the practices that have passed the time.
It is by understanding the ecosystem, learning through networking, that executives will be able to propose more assertive innovations.
How to generate results with innovation in 2023
To generate results with innovation in 2023 , it will be necessary to know how to harness the power of the network and, at the same time, not get distracted and waste time among so many possibilities.
We came out of the pandemic with a mature and hyper-connected startup ecosystem, generating a lot of results. And this is very good, because it shows that, in the challenge of innovating, no one is alone.
The startup community is rich in solutions, proposals and values. The great premise is knowing how to filter the solution that best matches your reality. As we said, accessing, monitoring, attracting, contributing, creating and capturing value will make a lot of difference so that your corporation’s innovative processes and results can grow sustainably.
In other words, the good news is that the number of great startups knocking on the doors of leading corporations is once again expected to skyrocket over the next 12 months, as it has been doing year after year. The bad news is that if the corporation does not know how to capture value from the proposed innovation, many others will.
To make a difference in 2023, know how to generate value
Open innovation is about relationships between people who can help each other, and that means value creation.
Know, therefore, that in any type of open innovation relationship, from contracting to matchmaking, you need to know how to identify the desires of the other party. It is necessary to know the reality of the startup, its corporation and what both parties have to contribute.
There is a lot of value in solutions being generated in the innovation ecosystem, and the big difference is knowing how to identify, deal with and proliferate these relationships.
Knowing how to extract these values from the ecosystem requires training in innovation.
Training needs to be continuous and networked, so that executives with similar problems can support each other and manage, together, to transform their realities, based on the solutions proposed by the startups.
All of these actions are carried out in the 100–10–1 Startups Program , a network training program for training startup mentors. The Program is training thousands of people who have already realized that training in innovation is necessary to scale their careers and to optimize the innovative processes within their corporations.