This post is by Kanika Atri from Nokia Solutions and Networks.
Did you know that one-third of all of the venture capital investment in the United States goes to the Silicon Valley? No wonder it is home to most millionaires and the most billionaires in the US per capita. But venture capital only follows innovation, it doesn’t create it.
From the first microprocessor, the first microcomputer, the first predecessor of the internet – to the high tech giants like Intel, HP, Apple, Microsoft, and software disruptors of today such as Google, Facebook, Amazon, Twitter – all have the Silicon Valley to thank for their genesis. And so does the mobile industry! I recently learned that Federal Telegraph Corporation in Silicon Valley created the world’s first global radio communication system, signing a contract with the US Navy in 1912!
So what’s the secret of its continued success? Do people have bigger brains here? Does money grow on trees? Is it the perpetual sunshine? What’s the magic?
Clearly the large global talent pool, access to venture capital, support from universities such as Stanford and Berkley – all play a role. But it’s more than that. It’s a highly entrepreneurial, risk-taking culture, and most importantly, it’s the ‘open innovation’ mindset of the people here. Ideas are valued based on their merit, no matter the source. And that means a lot less of the ‘not invented here’ syndrome. One of the surveys concluded that Silicon Valley companies are four times as likely as others to shake up their own status quo, never mind the legacy.
For NSN, it’s this magic of open collaboration and co-creation that we strive to embody not just in Silicon Valley but in our global innovation centers across the world. We believe that being good at what we do is not enough. Our journey is about evolving from good to great, enabled by innovation. And most often, great innovation requires openness, collaboration, and multi-disciplinary experts working together on big ideas to solve big challenges. It’s our responsibility to promote budding innovation around us and provide a platform to ensure that the best ideas and technologies reach the world.
Partners, customers, and small startups are all equally welcome to walk in to our Innovation center in Mountain View, California, with their ideas. Inside the open innovation lab, everyone is equal only to his or her ideas, including our own teams.
The whole purpose of open, collaborative outside-in innovation is not just to speed up how our industry evolves or disrupts itself in the future, but also to innovate smartly. Smart innovation means not reinventing the wheel, but taking what’s been done before and applying it meaningfully to new domains. That’s where the IT/Internet world can add some magic on top of what the Telco world already does best. For example:
• Best of Telco [Mobility] + magic on top [Cloud] = Best of both worlds [Telco Cloud]
• Best of Telco [Security, Privacy, Reliability, Scale] +magic on top [Big data analytics] = Best of both worlds [Colossal data analytics]
• Best of Telco = [Rigor of Evolution] + magic on top [Speed of Innovation] = Best of both worlds [Sustainable and scalable innovation]
Join the Silicon Valley Open Innovation Challenge
Calling all inspired technologists, entrepreneurs, innovators, and wireless experts! We now invite you to join us in co-creating, accelerating, and perhaps even disrupting the wireless industry through our Silicon Valley Open Innovation Challenge. This is an opportunity for innovators to add magic on top of Telco and address two transformations enabling the mobile internet of the future – ‘Big’ Colossal data analytics and Telco Cloud.
This Open Innovation Challenge is looking for big ideas, new technologies, creative business models, and unexpected combinations that will transform the mobile industry. The Challenge is open to companies, college students or developers, and the best ideas will get the chance to leverage NSN’s global market reach and mobile broadband expertise. Others may be groomed by our independent venture vehicle, Nokia Growth Partners (NGP), which actively invests in promising data and cloud startups.
The event is open for submissions until May 10th, after which there will be multiple rounds of engagement and coaching with a cross-functional jury. Winners will be announced on July 2nd, at a VIP finale event, center stage with NSN and NGP leadership, other venture capitalists operators and industry decision makers. Winners will be invited to immersive workshops to further develop their ideas into real world solutions and add magic with the best of our technology and business experts.
Stay tuned for more!
Find out more about the Open Innovation Challenge here.
To share your thoughts on the topic, join the discussion with @NSNtweets #NSNChallenge #Innovation #FutureWorks #TechVision2020 #Bigdata #NSNperformance #mobilebroadband.