Global Innovation Summit: embracing change is key to growth
The busy crowds at registration were indicative of what was
ahead. (Image via Global Innovation Summit)
The Global Innovation
Summit 2015, held on September 1st at
the Jumeirah Beach Hotel in Dubai, was first and
foremost a celebration of innovation and its immense impact on
people’s lives.
GIS brought together reknowned
regional and international speakers to explore the role innovation
plays in improving our daily lives and help companies incorporate
principles of innovation into their culture. Organizers focused on
the role of disruptive technology in driving change.
The definition of innovation can be
difficult to pinpoint, as the event proved. Shantanu Phansalkar,
CEO of SPI Group was quick to point out that the terms “innovation”
and “invention” can be contradictory, and are often used
interchangeably. Innovation requires cleverness in using your
product or service efficiently and modifying it to meet the market
needs, he said.
“From
a corporate point of view, innovation means finding new markets,
new flows of revenue and progressing beyond your
scope of experience,” said
Anthony Butler, Chief Technologist and Lead Cloud Advisor at
IBM MEA.
The panel entitled “How to make smart cities, even smarter?”
was moderated by Mohammed A. Omar, Department Chair of the
Engineering Systems and Management department atMasdar Institute of
Science Technology. See below for a list of
panelists.
Rania Rostom, chief innovation & communications officer at
GE MENAT, believes innovation is “the adding of value. It doesn’t
matter whether you use ‘invention’ or ‘innovation’ or any other
term; the important thing is to make change.”
Though interpretations of what, exactly, defines these
words, both are catalysts for changing the status quo. How can we
benefit?
Embrace change
While change might be feared by many as an
impediment to survival and sustainability, Haidar Salloum, channel
manager at Microsoft Gulf believes that change is
everywhere.
He noted that 89 percent of companies on the
S&P 500 stock index in 1955 no longer exist because they didn’t
view change as avenues of survival and growth.
“If the innovation in the outside world is
faster than innovation inside [of the company], then you are
definitely on the wrong track,” he said.
Attia stressed that the ability to manage
fundamental changes is the key to growth, as companies that are no
longer on the map are those that ceased to innovate and grew
comfortable with past successes.
Rather than fear innovations like big data,
cloud technology, IoT and analytics, companies should adopt and
prioritize these innovations as keys to success, said Etisalat CEO
Salvador Anglada. Citing Uber and Airbnb as companies that embraced
change, he encouraged executives to also be flexible and
open.
Empower and enable
A culture of innovation isn’t enough. Companies need
to enable their employees to make innovation a reality, said Paul
Boots, chief operating officer at Beehive, a platform that connects
investors and businesses. Companies need to take their time in
selecting their employees, and give them the right tools and
opportunities to innovate.
The principles of innovation enable individuals and
organizations to achieve more, Salloum said, and noted that SMEs
are at the forefront of innovation.
The Global Innovation Summit
also recognized innovative entrepreneurs in the UAE. They are:
- Isabelle Millasseau – for the Best Innovation in Retail Sector
at Footup - Alison Wilcox – for the Best Innovation for Business Growth at
Cinetech - Tazeen Sharif – for the Best Innovation in Education Sector at
Ihear - FouwazParkar – for the Best Innovation in Healthcare Sector
CURAPP - Sebastian Stefan – for the Best Innovation in Sustainability
for LoadMe - Neha Kaul – for the Best Innovation for Public Good
*Panelists
include Mohannad Samara, Director at Etisalat; Tommi
Raitio, Regional Director, Telecommunications and Internet of
Things, META Region, Intel Corporation; Rania Rostom, Chief
Innovation Officier, MENA and Turkey GE; Anthony Sayers, Internet
of Things Business Developper and Strategist, Dell Jeroen
Schlosser, Managing Director, Equinix MENA; Aiham Al-Akhras, Head
of Business Development and Operations, Fujitsu.
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