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Towards Entrepreneurial Innovation Ecosystem in Montenegro

The European Commission expert panel applied the entrepreneurial innovation ecosystem model developed by IFI in expert advice in Montenegro. In this assignment, Totti Könnölä, CEO if IFI, was the rapporteur of the panel that was set up to provide external advice and operational recommendations on how the country could develop its entrepreneurial innovation ecosystem.

The expert panel provided advice on the necessary legislative changes, the design of a functional entrepreneurial innovation and startup support ecosystem model and the necessary funding schemes for startups and other actors of the ecosystem.

For more information

The Commission project website
The final report available here for free

Platform Strategy: Keys for Exponential Growth

Platforms play a fundamental role in digital ecosystems; they are the “medium” in which these ecosystems are developed through the interactions between users, developers and other stakeholders. The irruption of platforms and their associated digital ecosystems generates profound changes in the economy.

Insight Foresight Institute faces this challenge by offering a training program. We usually develop these executive and in-house programs in ‘partnership’ with our collaborators and clients, such as:

Foundations
Business schools and universities
Business
Public administrations.

Our approach is to support entrepreneurs and intrapreneurs to design and develop their scalable platform business strategy within the larger ecosystem. The manager of incumbent business learn to anticipate the impacts of new platform entrants and react to the emerging challenges.

Attendants

Entrepreneurs with ambition to develop high growth companies.
Managers interested in transforming their business.
All those with an interest in digital platforms and the platform-based economy.

Concept

Presentations and debate.
The students develop a group work during the course.
Classes are complemented by online work.

As a general rule we recommend 6 modules each of 4-8 hours. Each module consists of two sessions:

1 session of papers and debate.
1 session of practical application workshop.

It is advisable to leave several days between the modules that allow:

Learning through reading and exercises.
Involvement of colleagues and organization.

We are also flexible to co-design the program to specific circumstances.

Contents

The ‘boom’ of platforms

We will immerse in the world of digital platforms and their role in the digital transformation and the fourth industrial revolution; and we will learn how platforms create entirely new markets and transform existing ones. We will learn about different perspectives and platform models and learn to recognize their key characteristics.

The platforms ‘unboxed’

Learn how the understanding on the management of the platforms has evolved. The management literature has evolved from the mechanical optimization of platform infrastructures to the coordination of ecosystems of digital platforms that involve actors with different roles and ambitions. As a result, the unit of analysis for organizing a business has changed from a company to a business ecosystem.

Scenarios of the platform-based economy

We will explore different scenarios of the evolution of the economy based on the platforms and the consequences of the platforms both in the economy and its implications in different sectors that force managers in both companies and public administrations to redesign their strategies and operations. We will raise awareness about the advances in different regions (US, Asia, Europe …).

Strategies and business models of platforms

We will learn the essence of planning and strategic design of digital platforms. We will explore different radical and disruptive business models and discuss current cases to identify their strategies and value creation. We will know different tools to facilitate the strategic design of platforms.

Platform architecture

We will immerse ourselves in the technical challenges of how to build a platform that is attractive to engage and that creates value for the entire ecosystem of users.

We learn how to provide the tools and services that facilitate all the users and to design the scaling up of business. We will explore different technologies, for instance blockchain, how to monetize and create trust.

Roadmaps for platforms

The success of platforms depends largely on their ability to generate network effects and achieve increasing returns. We study strategies how to achieve these effects and how to overcome the problem of ‘chicken and egg’. We learn how to plan the development of the platform and its ecosystem to achieve the desired vision. We will also explore the relationships between the platforms and their ‘stakeholders’, including relations with public administrations.

To know more contact: info@if-institute.org

Find out about our other courses.

The European car industry has to catch up

Francisco Jariego, a member of the Innovation Council of IFI, and Totti Könnölä, CEO of Insight Foresight Institute (IFI), write in Cinco Días (one of the leading economic journals in Spain) about the transformation in the automotive industry driven by technological advances and the platform economy.

Smartphones have opened the possibility of sharing vehicles in a simple way. Uber and others have developed platforms that connect drivers and passengers, making it possible to find a driver or share a car with just a one click. These companies are pushing for a change in the patterns of private car use, which will have important consequences.

The electric vehicle is reaching the levels of autonomy and cost that make it competitive with the vehicles of internal combustion. Tesla has strongly encouraged the development of this type of vehicle with a huge investment in the production of electric batteries and a coordinated bet on the development of solar energy.

The autonomous vehicle begins to be accepted as a real possibility in a not too distant future. After years of investing in the technologies that will make a driverless vehicle possible, what began as a highly speculative bet from Google (a moonshot) is, since late 2016, a new business unit, Waymo, under the umbrella of Alphabet.

Read the full article in CincoDias in Spanish.

Innovation, purchases and employment

Juan Mulet, the member of IFI Innovation Council writes in Cinco Dias, one of the leading economic daily papers in Spain on how innovation, purchase and employment are, or should be, connected.

The 1987 Nobel Prize for Economics, Robert Solow, proved that the four fifths of the United States economic growth of the first half of the past century, were the consequence of having improved the way in which the production factors were combined. Back in the days it was called a technical change, nowadays we would call it “innovation in its broadest sense”, or, as the economist prefer “total productivity of the factors” (TPF). Only the remaining fifth of the mentioned growth, was attributable to the increase in the use of capital and labour. According to the OECD, between 1985 and 2010, the contribution to the (TPF) to the GDP growth between 1985 and 2010 was of 72% in Germany, of 63% in South Korea and a 52% in France. This percentage represented only a 13% in Spain. It is obvious that our economy hasn´t experience the improvement in the use of capital and labour, one of its main ways and opportunities to grow…

Read the full article in Spanish.

IFI in the Innovation Panel of the VI General Conference of the Spanish Foundations Association

Our Managing Director, Totti Könnölä attended the innovation panel of the the VI General Conference of the Spanish Foundations Association, which was held the 23^rd of November of 2016 in the headquarters of the Barrie Foundation in A Coruña, in the framework of the 50^th commemorative act of this Galician entity.

Totti made a bet on innovation during his intervention on the round table. “To innovate is, in the last instance, about betting on people”, he suggested. His discourse addressed the challenge of entrepreneurship, innovation, ambition and collaboration. He gave much importance to the last point, and he got to say that “at the end that its not just institutions which collaborate but rather individual persons, and sometimes bonds of complicity are created”, as occurred in a case from his native country, Finland, where the Government “obliged” first companies and the academic world to collaborate for obtaining public funds and, although at first the relationship was “artificial”, little by little links were created between persons which led to effective collaboration. In addition, he indicated that innovation is not just undertaken by the business field, but also science, politics and society. However, he added that “entrepreneurship requires an ecosystem” and that, it is necessary to cooperate and “work hand in hand to advance”. He reflected that in the path of innovation there are risks that have to be accepted and that sometimes also serious difficulties arise; “innovative entrepreneurship is a journey, it always comes with uncertainties, but it has its rewards”. So he encouraged everyone to “have ambition” in their projects.