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How Start-Ups Are Innovating with Consumer Electronic Giants

Posted in Insights by Jon on 28 Apr 2015 at 11:23 BST :364

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In my view three of the most notable innovation initiatives of how corporate electronic/consumer giants are collaborating with individuals and startups are:

 

- Wayra (Telefonica)

- FirstBuild (GE)

- Samsung

 

Wayra

 

Wayra is Telefonica's tech start-up accelerator, which helps the finest entrepreneurs grow and build successful digital businesses. Since inception Wayra UK has helped:

 

- accelerate 80 startups

- raised $10 Million in funding over the last 6 months

- is currently supporting 21 different nationalities in their UK founders network

- held over 250 events in London at Wayra UK academy headquarters

 

Wayra UK is an exciting initiative 50 % funded between the UK government, UnLtd (the world's largest supporter of social entrepreneurs) and the global tech start-up arm of Telefonica. This tech start-up initiative supports access to a global ecosystem of mentors (100 alone in the UK) office space and business partners

providing an opportunity to collaborate with Telefonica business.

 

Have you got what it takes?

 

Wayra is actively searching for:

 

- amazing digital startups that have the power to change society

- accelerate business which do good across cross many different digital technology areas including: cloud Computing, mobile applications, internet, network and systems, financial services, security, e-health, e-commerce, video digital home, social innovating, social networks and apps, smart cities and big data.

 

FirstBuild - GE 

 

GE have an excellent track record of open innovation initiatives, in my view the most intriguing is FirstBuild.Their mission is to “Invent a new world of home appliances by creating a socially engaged community of home enthusiasts, designers, engineers, and makers who will share ideas, try them out, and build real products to improve your life.”

 

In doing so pulling together community expertise and creativity online and offline to design and engineer their future generation of major appliances. FirstBuild community values are:

 

- Community

“Everything we do will benefit our community of engineers, designers, fabricators and home enthusiasts. We will empower the individual maker by facilitating innovation from mind to market through a collaborative

design.”

 

- Openness

Knowledge is an abundant resource that we will share with our community. We will strive continuously to engage our community through open dialog and transparency.

 

- Sustainable

“Build a sustainable co-creation community through recognition and attribution while advancing the environment, continuously improving the safety and well-being of diverse societies

 

- Excellence

We will create value by rapidly delivering better products that improve the lives of our community and our consumers.

 

- Integrity

We will be honest, fair, and trustworthy in all activities relating to our community and our consumers. We will recognize, value, and exemplify ethical conduct as established by GE.”

 

The FirstBuild platform provides the space, tools and resources to turn selected ideas into product prototypes and commercial products including: refrigeration, dish cleaning, food disposal, cooking, clothes care and water systems.

 

FirstBuild ecosystem is admirable as it drives creativity and inspires innovation amongst all it's community members. When a member provides a notable idea recognition is quickly followed in the form of monetary compensation,or access to resources or promotion / acknowledgement of contribution to Challenge

competition.

 

To find out more about this exciting open innovation initiative please check out:

 

-GE's Firstbuild: Can a big company harness startup mojo on the backs of upstart entrepreneurs?

 

Samsung Electronics

 

Okay confession time. I own more than a few of their consumer products (phone, fridge, tv) I have been a fan of Samsung Accelerator programme for the last 18 months, ever since reading the following interview with Marc Shedroff, Vice-President of Samsung’s Open Innovation Center.

 

Similar to both Wayra and FirstBuild, Samsung accelerator programme provides approved community members access to key resources including:

- internal ecosystem hubs to share and collaborate company information and data

- access to decision makers

- distribution channels and strategic partners

 

This tech start up community differs from Wayra And FirstBuild as it is only open to entrepreneurs who have previously built products and led successful teams before, to work on a variety of new technologies, which are re-thinking how tomorrow's consumers will connect with:

- TVs,

- cameras,

- mobile phones,

- home appliances,

- workplace solutions.

 

 

Blog Image – Cameron Almas Khemeia Consulting

 

About the Author

Jon

This post was written by Jon Stephenson - our Head of Business Insights

SUPER POWERS: Business Modelling, Business Analysis, Business Intelligence, Market Research, Marketing Strategy, Bicycle Repair Man

CONNECT: Twitter | LinkedIn | Google+ | MovyEmail

 

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