Opinion | Make innovation a priority if you want your business to survive
Looking beyond your “corporate walls” is also key in a fast-changing world
Fostering innovation needs to be a priority for any company that has ambitions to be in business for the next decade and beyond.
Industries are evolving and morphing at speeds hitherto unimagined. We are now rethinking how cars are driven, the players involved in space exploration and creating new concepts such as cryptocurrencies.
To keep pace, looking outside your corporate walls and across industries also needs to be a priority. It is no longer realistic to think that every groundbreaking idea will be created in-house.
For the past three years I have witnessed many of Hong Kong’s financial institutions walk the talk of embracing innovation by mentoring financial technology (fintech) startups in Accenture’s FinTech
It is no longer realistic to think that every groundbreaking idea will be created in-house
Innovation Lab Asia-Pacific. Much of their work has taken place quietly, with rolled up sleeves, behind closed doors. But it’s worth highlighting what they do: exemplifying best practice for encouraging new ideas to come to market.
Consider this year’s Lab. In August we announced that eight companies had been chosen for the Lab and would be mentored by leading financial services executives during the course of 12 weeks through a series of workshops, panel discussions and coaching sessions on product and business development. At the end of this year’s program, five of the eight participants will be selected to present their concepts to potential investors and financial industry executives.