Ecosystems accelerate data-driven innovation Case: Tieto Data Incubator
Data has become like water for businesses — a precondition for economic life — as it is the prime driver of human experience and value in the future. Through the Tieto Data Incubator, we innovate data-driven business opportunities together within an impressive ecosystem. This offers both unforeseen possibilities for startups as well as more efficient value creation for our customers. Tieto Intelligent Wellbeing and Tieto Emphatic Building are just two examples of our already commercialized innovations.
In today’s world, the pace of business innovations is rapid and creates new data-driven opportunities across industries. However, no individual company can develop ground-breaking data-driven solutions alone. Rather, ecosystems are key to leveraging these opportunities. Ecosystems bring together the best experts and innovators from across different sectors — e.g. startups, partners, customers, and academic leaders. We at Tieto Data Incubator build new ecosystems and participate in existing ecosystems. This enables us to provide new, valuable and innovative solutions.
In powerful ecosystems, everyone wins
We are in the age of networked intelligence, where having a vibrant ecosystem is vital, especially when developing complex, data-based solutions. Collaborating with other stakeholders — some of whom might be your competitors — does not always feel easy, but here’s the good news: ecosystems produce enough breakthroughs for all parties to share. Through experience we’ve come to recognize that well built ecosystems lead to more value than each of the groups could create on their own. Ecosystems offer access to the top resources from different fields. When combined with lean startup methods, this leads to faster innovation.
Ecosystems also enable co-creating and validating ideas with other experts as well as piloting and testing them. It also offers access to important decision makers and well-known scholars, with whom the latest industry trends or research findings can be discussed amidst exchanging ideas on other topics. Moreover, ecosystems bring different people together, making it possible for all parties to find brilliant new talents within their teams.
Tieto Data Incubator is setting an open stage for disruptive innovations
Working with startups and within ecosystems on data-driven innovations empower us to create new growth businesses and to transform our existing businesses. Tieto Data Incubator is our factory for data-driven ideas and new business possibilities. We invite innovators, teams and startups to innovate unforeseen data-based business models — via ideation, incubation and commercialization — following lean startup methods. It is built specifically for business growth.
As we work closely with our customers, we are able to offer startups various benefits, for example, access to datasets of uncommon size and quality. In addition, we have internationally renowned experts working in our team — individuals who possess strong industry-specific expertise and are highly appreciated in their fields. When we established the Tieto Data Incubator in autumn 2016, we chose a unique focus — specific technologies, particularly Artificial Intelligence, instead of specific industries. Since we started, we’ve grown from hosting three internal startups to having more than thirty innovators and startups in various stages.
We have already enabled several innovative data-driven solutions for our customers, for example: Intelligent Wellbeing and Emphatic Building solutions. The Intelligent Wellbeing turns healthcare and welfare data into better epidemic predictions, earlier diagnoses and more preventive interventions for individuals and society as a whole. In contrast, the Emphatic Building solution combines the Internet of Things, sensor technology and data-driven analytics to create premises that optimize space utilization and increase employee wellbeing at the office.
Slush, Tieto Data Incubator and future of ecosystems
The above mentioned solutions will also be presented at the end of November at the leading startup and entrepreneur event Slush. Slush is a major ecosystem, and for the participating startups, it offers an important opportunity to gain visibility and investors, catch up on the latest trends, learn and also recruit new talents. It is a natural playground also for us. Our Tieto Data Incubator team is there to build bridges between startups and corporations, sparring new ideas and find new data-driven business opportunities - maybe even with you.
So what’s next for the Tieto Data Incubator? Encouraged by the successful year we’ve had, our aim is naturally to grow. We’ve already strengthened our presence in Sweden. In the future, we expect ecosystems will evolve towards a networked intelligence between machines and humans. So, this will be a development to pay attention to while we continue to deliver meaningful data-driven business innovations that have a positive impact on our societies and our planet. Sounds easy enough, right?