Launch of Nebula™ Open Innovation Program reflects shift in Global Corporate Strategy
SINGAPORE | Budding Innovations, in partnership with Platform E, is launching a program aimed at helping large multinational corporations build and develop open innovation teams, as more business leaders seek new means to productively innovate with external entities.
The program is focused on developing an “outside-focused” innovator with the following key traits – Technical Expertise, Opportunity Insight, Inter-personal dynamics, Business Acumen, and an Entrepreneurial Mind-set, which would be beneficial for companies looking for talent development in Open Innovation (OI). The challenge facing organisations now is finding people who possess a balance of the aforementioned traits; the program is designed to help close the gap on the demand and supply of talent in this area.
OI is a process that encourages the exploration, and execution, of opportunities with external partners, scientists, and engineers, where the synergy created leads to new innovations more effectively compared to working within the corporate entity. The design and adoption of an OI strategy has gained traction as a result of the way internal and external talent and knowledge can be integrated, in R&D departments, as well as all other capabilities and industries.
Dr Bert Grobben, CEO of Budding Innovations, said:
“Many large MNCs have adopted successful OI processes. In Singapore, P&G, UniLever and L’Oreal are recognizable experts. However, these processes are tailored to the particular industry and corporate. At BI, we have realized that corporations new to the process of OI can benefit from a kickstarter, and a partner in designing or adapting a process, and develop a talent pool that works for them. This will deliver them a competitive edge. Beyond designing it, more corporates are looking to partner with us to manage this process with them."
Mr Alan Wong, CEO of Platform E, agrees.
“This partnership between Platform E and Budding Innovations provides corporates the unique opportunity to transform their innovation teams and allow them to work more effectively towards ensuring that in the long-term, the edge that they possess would not be lost. BI’s program has proven itself to be immensely helpful, and we hope that it will continue to benefit those who choose to join moving forward”.
The Nebula™ Open Innovation Program is open to the ranks in large corporations, as well as individuals in search of new opportunities. Participants may also get the opportunity to be incorporated into Budding Innovations’ ecosystem as they help develop solutions for various companies while completing the program.