12.8 c
Saturday, December 2, 2023

Event Report] Interview with a Leading Publicly Traded Company Promoting Innovation! Goal Setting in New Business and Open Innovation

In open innovation, which begins with mutual empathy, the pieces of each company's business are utilized and cross-fertilized to develop a plan, and through trial-and-error co-creation, a new business is born. On the other hand, when, to what extent, and to what extent, can a business be called a goal? The "goal setting," including monetization, may be the most important factor in promoting innovation, yet many people in charge are conflicted in their search for reference criteria to make a decision. Innovator`s Academy welcomed guest speaker Sayaka Hirafune, Tsunagu Mirai Innovation Promotion Office, New Business Promotion Center, Fujikura Ltd.

interpoint (interword separation)Why promote new business and open innovation?
interpoint (interword separation)Toward a vision of the future! Examples of Innovations to Create the "Future" Society
interpoint (interword separation)Determine business feasibility! When do you set your goals?
interpoint (interword separation)The trials and tribulations of accelerator promotion! How to persuade your own management team?
interpoint (interword separation)Where is the Goal? How to Create a Goal in a Demonstration Experiment
interpoint (interword separation)Time to identify a program? To run to the goal you set
interpoint (interword separation)No Failure! What are the results of new business and open innovation?

Why promote new business and open innovation?

long vowel mark (usually only used in katakana)long vowel mark (usually only used in katakana)Could you talk about Fujikura's initiatives and the background behind the promotion of open innovation?

Flatboat:Fujikura is a BtoB company that fits infrastructure into a large customer base. On the other hand,We want to solve social problems directly ourselves.With this in mind, we set forth our "2030 Vision" in 2017, aiming to provide "Tsunagu" (connecting) solutions for a comfortable and sustainable "future" society.

There are four markets in which we operate, including some that are extensions of existing businesses.Since we are aiming for something new, it is only natural that Fujikura Ltd. cannot do it alone. We believe that it is necessary to have dialogue with various people outside the company and collaborate with them for support.

Image of Fujikura 2030 Vision

Toward a vision of the future! Examples of Innovations to Create the "Future" Society

Co-creation with Activate Labs Inc. born out of the Accelerator Program

To promote a new initiative called Open Innovation,The first was an accelerator program we organized with advice from Creww (Crew).
ActivateLab, a startup selected by Fujikura, applied for one of Fujikura's visions, "Life-Assistance," in the area of health literacy improvement, hoping to create a system to break through the problem of employment of people with disabilities.

At the same time, I realized the need for another axis of "improvement of quality of life by considering individual characteristics as a starting point," and at the same time, I am trying to further improve the employment services for people with disabilities.The collaboration has begun with the confirmation that there is a vision of what we should aim for ahead of time: to build a diversity infrastructure.

Fujikura & Activate Lab's Open Innovation Case Study Feature

Determine business feasibility! When do you set your goals?

long vowel mark (usually only used in katakana)When you are developing a co-creation plan, when do you think about the overall benefits, including monetization?

Flatboat:The project with ActivateLab is not something that can be attached to Fujikura's existing business, so I think it will be several years before we can consider the profit. On the other hand, for ideas that are similar to Fujikura's existing business, I think we will be able to provide services in 1.2 years.

The setting of the "business goal" may vary depending on what kind of vision you have and in what form the business will be created.
Also, one guide to business viability is,We believe that the first step is to launch the service, and we have shared with the startups when that will be done.

The trials and tribulations of accelerator promotion! How to persuade your own management team?

long vowel mark (usually only used in katakana)long vowel mark (usually only used in katakana)I understand that you are also investing in Activate Labs in 2020. I thought it was a bold decision for a company to invest not just a few years into the future, but further into the future. Wasn't it also difficult to obtain the necessary approval within your company?

What is the business of manufacturing so far?I believe there is a different way to build a business.I am very happy to have been able to work for a company that is so open to new challenges and methods. I feel that the company has tolerated this new challenge and method. We had a lot of discussions within the company,I think I was able to see the future because I was in a field where I could work toward the larger goal of providing "connecting" solutions rather than selling products.

long vowel mark (usually only used in katakana)long vowel mark (usually only used in katakana)While the secretariat may set goals for social significance such as social impact and quality of life, the management side may tend to set goals in pursuit of short-term profit.

I think it is necessary to have a management team that understands the importance of having one person's back. Also, persuading upper management is important, but on the other hand, making friends is also very encouraging. If you are steadily increasing the number of your friends, you will create a flow within the company.

Where is the Goal? How to Create a Goal in a Demonstration Experiment

-long vowel mark (usually only used in katakana)What are your thoughts on setting goals for the demonstration experiment?

First, when conducting the POC, we confirm that "it is difficult to achieve any results in three months because large companies are slow compared to the speed at which startups are set, but is that OK with you? Then, in addition to sharing the vision,We also carefully discuss the "goals" of the project to determine what areas need to be improved.

Then we will talk about when to do the first POC. It is roughly six months until we make the first POC and conduct user interviews. If the project requires research and development, that period is necessary, and if it doesn't work out, we need to consider it. If anything, more than speed,You set a goal of how far you are willing to go.

long vowel mark (usually only used in katakana)long vowel mark (usually only used in katakana)It is difficult to see numbers in POC, but do you have any ideas on how to show/evaluate the results to the company?

Flatboat:Yes, it is. As for results, it's hard to get credit for something that eventually becomes a service and is not visible, but "How are we progressing, where are we at, how far do we have to go before we can move on?"We have talked about this.
As for the evaluation,We may use outside recognition such as awards we have received. You also use press releases to promote the implementation of the POC to the outside world to encourage input.

Time to identify a program? To run to the goal you set

long vowel mark (usually only used in katakana)long vowel mark (usually only used in katakana)I know that many companies face the challenge of not being able to set goals for new projects and obtain budgets, but how do you obtain budgets when you don't put KPIs in place?

Flatboat:First of all, we receive money for the activities of those who work to promote innovation. Then, if there is a theme that is being planned and we want to obtain a budget, there will be an attack and defense as to whether it is necessary or not, but we will give specific delimitations and say, "Let us do this much, we don't know if we have to do this much, so let us proceed.I think it is important to know what you gained that you can use the next time.

No Failure! What are the results of new business and open innovation?

Flatboat:We don't use the word failure. We believe that by moving, we can gain something, and even if we stop, we can gain knowledge, which is also an achievement.

long vowel mark (usually only used in katakana)long vowel mark (usually only used in katakana)I see.
What are the results of the open innovation initiative?Besides the numerical gains, it is also the culture of the organization that challenges us.As Mr. Hirafune mentioned,If the company's own thinking can be changed by recruiting others, I believe this will be a very significant asset.We hope that everyone will be aware of this as they consider setting goals for open innovation.

Thank you very much for your valuable talk today.

Guest Speaker
Ms. Sayaka Hirafune General Manager, Tsunagu Mirai Innovation Promotion Office, New Business Promotion Center, Fujikura Ltd.
(After joining Fujikura Ltd., he was engaged in the development of optical fibers and electronic devices, as well as the start-up of mass production. In April 2017, he assumed the position of General Manager of Tsunagu Mirai Innovation Promotion Office, New Business Promotion Center, and is currently working to create new value through open innovation.

What is Innovator`s Academy?
Innovation is now being tackled not only in the Tokyo metropolitan area but also on a nationwide scale, with a wide range of challenges unfolding from startups to business companies and local governments. This is a place where you can take home a variety of know-how from our experienced guests, including examples of successful and unsuccessful innovations and points to keep in mind. That is "Innovator`s Academy.

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ai taniuchi
She has been working as a freelance writer at PORT by Creww since 2020.
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