how innovation helps and enterprise to rise
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innovation and entrepreneurship PROFESSOR (DR.) VINAY SHARMA HEAD, PRODUCTION ENGINEERING BIRLA INSTITUTE OF TECHNOLOGY, MESRA RANCHI-835215 JHARKHAND EMAIL: VINAY1970@GMAIL.COM
‘adapt or die’ PROFESSOR (DR.) VINAY SHARMA
Think Differently PROFESSOR (DR.) VINAY SHARMA Join all dots by four line without lifting the pen
From Invention to Innovation PROFESSOR (DR.) VINAY SHARMA inventiondepends upon creativity, innovationrequires integrating new knowledge with multiple business functions. Innovation is the process and outcome of creating something new, which is also of value. Innovation involves the whole process from opportunity identification, ideation or invention to development, prototyping,production marketing and sales, while entrepreneurship only needs to involve commercialization.
Dimensions of innovation-(Oslo Manual) PROFESSOR (DR.) VINAY SHARMA • Product innovation • A good or service that is new or significantly improved. This includes significant improvements in technical specifications, components and materials, software in the product, user friendliness or other functional characteristics. • Process innovation • A new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software. • Marketing innovation • A new marketing method involving significant changes in product design or packaging, product placement, product promotion or pricing. • Organisational innovation • A new organisational method in business practices, workplace organisation or external relations • Technological innovations • based on specific technology, invention, discovery, • Social innovations • in critical historic periods more important than technological ones (mail, educational systém, social systém, health care, …)
Eight stages of technological innovation PROFESSOR (DR.) VINAY SHARMA Basic research (for general nature laws) Applied research (for specific problems) Development (design for prototyping) Engineering (design for assembly) Manufacturing (design for efficiency & quality) Marketing (design for acceptance & affordability) Promotion (design for diffusion) Improvement & enhancement (design for sustainability)
10 Most Innovative Companies PROFESSOR (DR.) VINAY SHARMA
Corporate mythology PROFESSOR (DR.) VINAY SHARMA Digital cameras Electric cars DVD VR*
Coco Cola innovative ad PROFESSOR (DR.) VINAY SHARMA - why is it disastrous in Arabian country
Why Nokia fail- Downgraded to ‘Junk’ PROFESSOR (DR.) VINAY SHARMA WHAT NOKIA DID WRONG — OR, ALTERNATIVELY, WHAT SAMSUNG DID RIGHT — THAT LED TO ONE HANDSET COMPANY’S RISE OVER THE OTHER. NOKIA MOVED TOO SLOWLY: Nokia was a pioneer in the smartphone market, literally introducing consumers to the smartphone with its initial Symbian Series 60 devices in 2002. 2007, Apple introduced its iPhone. With its full touchscreen and app-based operating system, the iPhone changed the very definition of what a smartphone should be. Nokia failed to respond to the iPhone and the shifting consumer demand that came with it. “In hindsight, Nokia should have responded to the iPhone more quickly. They didn’t make the leap of faith onto Windows Phone until 2011. Now they are suffering from their slow response.” ANDROID PAID OFF (FOR SAMSUNG) AND WINDOWS PHONE HASN’T … YET (FOR NOKIA) “Samsung chose Android at the right time, and it benefited from the maturation of that platform,” Nokia, on the other hand, spent its time focusing on Symbian until the company’s recent partnership with Microsoft. But Nokia’s flagship Lumia Windows Phones haven’t paid off yet.
Why Nokia fail- Downgraded to ‘Junk’ PROFESSOR (DR.) VINAY SHARMA HURTING ON BOTH ENDS Nokia move too slowly in the smartphone market, it didn’t anticipate competition in the lower end of the market, either. Other manufacturers like HTC, Huawei and ZTE have attacked Nokia from the low-end in developing markets like China. “They were also squeezed at the bottom by micro vendors, which individually are not very big, but when you add them up they pose a threat in the low-end of the market,” NOKIA DIDN’T HAVE THE PANACHE The classic Nokia brick phone — and the Snake game on it — brings back a lot of nostalgia. But that’s a problem. Consumers, especially in developing markets, associate the Nokia name with a different era of technology. And in today’s world, having the newest and shiniest device is what matters. “Nokia was sort of an older brand, there wasn’t a new panache to it. Samsung, as a marketed brand, was perceived as an innovator. Nokia has a legacy baggage — they are the traditional brick, candybar phone maker,” Lam said.
Failing To Innovate Killed Kodak "You press the button, we do the rest." So went the advertising slogan coined by Kodak in the late 19th century. • Kodak was founded by George Eastman in 1892, credited with inventing the first photographic film in roll form • twentieth century Kodak was an American industrial icon – at one point enjoying a similar status as tech giant Apple does today. • A Harvard study in 1976 found that Kodak accounted for 90 per cent of film sales and 85 per cent of camera sales in the US • In 1988 Kodak employed 145,000 worldwide. Most recent figures put it now at just over 18,000 • One common explanation about Kodak's demise is that it missed the digital revolution – or simply that the ubiquity of digital cameras made photographic film redundant while Kodak bosses buried their heads in the sand. PROFESSOR (DR.) VINAY SHARMA
Failing To Innovate Killed Kodak "You press the button, we do the rest."So went the advertising slogan coined by Kodak in the late 19th century. • Kodak was a pioneer in the development of digital cameras, producing the first prototype megapixel digital camera in 1975. • Presented to sceptical Kodak executives, the bulky device was powered by no less than 16 batteries and took a full 23 seconds to record a single image, using a cassette tape as the equivalent of today's memory card. • You can see a picture of the camera on Kodak blog, the title of which is a story in itself: "We had no idea • Kodak didn't lack technical expertise either and, even today, has considerable intellectual property in the digital imaging space with its thousands of patents worth several billion dollars. PROFESSOR (DR.) VINAY SHARMA “The key stumbling block was its inability to convert its technical expertise into tangible products that could be sold profitably”
Failing To Innovate Killed Kodak "You press the button, we do the rest."So went the advertising slogan coined by Kodak in the late 19th century. • Although it was a pioneer in the technical aspects of digital imaging, it lacked skills in areas such as lens making and manufacturing (making efficient and reliable electronic devices) to successfully commercialise products based on its innovations in digital imaging. • Kodak also went through numerous restructurings which were traumatic for the employees and sometimes also taking it into unfamiliar and hypercompetitive markets such as printers, again diluting its focus. • Steve Sasson, the Kodak engineer who invented the first digital camera in 1975, characterized the initial corporate response to his invention this way: There are few corporate blunders as staggering as Kodak’s missed opportunities in digital photography, a technology that it invented. This strategic failure was the direct cause of Kodak’s decades-long decline as digital photography destroyed its film-based business model. • But it was filmless photography, so management’s reaction was, ‘that’s cute—but don’t tell anyone about it.’ via The New York Times (5/2/2008) PROFESSOR (DR.) VINAY SHARMA
FANUC (1956, Dr.SeiuemonInaba) PROFESSOR (DR.) VINAY SHARMA
Promising and innovative start-up Case study
Inspirock PROFESSOR (DR.) VINAY SHARMA 22 Dec, 2015 Founder(s) - Anoop Goyal and Prakash Sikchi City - San Francisco Revenues - N/A Headcount - 15 Industry – Travel What it offers - Inspirockhelps people plan holidays with the help of technology. At a conceptual level the offering is highly simple, but at the computer science level and a technology level it is immensely complicated. For example, a planned itinerary for a 10 day trip to France will have a trillion possibilities and the number of permutations. What makes Inspirock different is that it is able to churn out plans based on logic and according to preference within seconds. Growth Details & Expansion Plans - About 25,000 users from over 190 countries use the site to plan a holiday every month. It currently covers over 11,000 destinations across Europe and US and plan to cover most of the world next year. Investors & Amount raised- Inspirock has raised $3 million in seed funding, which was led by MakeMyTrip.
UrbanClap PROFESSOR (DR.) VINAY SHARMA 22 Dec, 2015 Founder(s) - AbhirajBhal, Varun Khaitan, RaghavChandra City - Gurgaon-based, present across 6 cities Headcount - 300 Industry - E Commerce What it offers - UrbanClap helps you find the right service professionals for activities important to you. Whether you are looking to decorate your home, get candid pictures of your wedding, get your doorbell repaired, plan your kid's birthday or get healthier,UrbanClap helps you fulfill all your services needs. UrbanClap's vision is to use technology and smart processes to structure the highly unorganized services market in India and emerging markets. Growth Details & Expansion Plans - Currently present in 6 cities with plans to launch in 5 more. Investors & Amount raised - The startup has raised Rs. 235 Crore from investors that include Rohit Bansal, KunalBahl, Accel Partners and Bessemer Venture Partners.
ConsureMedical PROFESSOR (DR.) VINAY SHARMA 22 Dec, 2015 Founder(s) - Nish Chasmawala, Amit Sharma City - New Delhi Revenues - Pre-revenue stage Headcount - 14 FTE Industry - Medical Device What it offers - Consure is focused on developing and commercializing novel critical care devices for 80% of global citizens that do not have access to subsidized healthcare. The startup's flagship technology is the Qora Stool Management Kit. Qora is the only stool management device that integrates a hygienic applicator to deploy a diverter inside the rectum by a minimally trained care provider or a motivated family member. Growth Details & Expansion Plans - Consure Medical has the unique distinction of being one of the few emerging market medical device companies to have both US FDA clearance and granted patents in all key markets including USPTO. Consure says it is focused on commercial growth in the US, Japan and India. Investors & Amount raised - The startup raised Series A from Indian Angel Network, India Innovation Fund, India Venture Partners and Series B from Accel Partners.
Zenatix Solutions PvtLtd PROFESSOR (DR.) VINAY SHARMA 22 Dec, 2015 Founder(s) - Dr. Amarjeet Singh, Rahul Bhalla, Vishal Bansal City - Gurgaon Revenues - $140,000 (Annual SaaS Run Rate) Headcount - 20 Industry - Energy What it offers - Zenatixprovides an energy analytics product that helps managers of commercial buildings save at least 10% energy using intelligence from the energy data. The startup's product is a combination of hardware and software. The hardware includes sensors which connect to Zenatix controller, which is used for both data acquisition and automated control of electrical loads. Growth Details & Expansion Plans - Founded in December 2013, the startup has about 42 customers and about 160 sites. It targets ARR of $1 million by Dec 2016. The current operations in NCR will be expanded to Bangalore and Mumbai in early 2016. Investors & Amount raised - Strategic seed investment from a group of angel investors, including RajanAnandan from Google, Snapdeal co-founders Rohit and Kunal, ManojDawane - head of technology in Ericsson India, ex-United Technologies India Head Zubin Irani. The startup also raised pre-series-A from Blume investors
OYO Rooms Agarwal(born 16 November 1993) is an Indian entrepreneur and the founder and CEO of OYO Rooms. He started his business career at age 17. He is the first resident Indian to win the Thiel Fellowship. More recently, he was named by Forbes in its "30 Under 30" list in the consumer tech sector. • He started travelling extensively across India at the age of 17. His various stay experiences at budget accommodations inspired him to launch Oravel Stays in 2012. Oravel was modeled after Airbnb. By 2013, Agarwal realized that mere aggregation of bed and breakfasts couldn't address the problems of budget travelers in India and hence, he pivoted Oravel Stays into OYO Rooms. • In the same year, Agarwal was selected for the Thiel Fellowship. The fellowship created by PayPal founder, Peter Thiel, provides $100,000 to college drop-outs under 22 years of age to pursue their idea. Agarwal is the first resident Indian Thiel fellow. PROFESSOR (DR.) VINAY SHARMA RiteshOYO Rooms OYO Rooms is India's largest budget hotel chain and is present in over 160 cities across the country with 40,000 rooms under its umbrella. OYO Rooms is not merely an aggregator of budget hotels but instead focuses on the standardization of hotels in the non-branded hospitality sector. OYO Rooms is considered to be one of the very few start-ups which are non-copycat. According to Agarwal, OYO Rooms was founded to solve the problem of the lack of predictability, affordability, accessibility and availability at budget stays. Ritesh Agarwal, recently announced OYO's launch in Malaysia through a post on the company's official blog.
Freedom 251 • Ringing Bells Freedom 251 smartphone • 4-inch (960 x 540 pixels) qHD IPS display • 1.3GHz quad-core processor • 1GB RAM, 8GB internal memory, expandable memory up to 32GB with microSD • Android 5.1 (Lollipop) • Dual SIM • 3.2MP rear camera with LED flash • 0.3MP front-facing camera • 3G,WiFi 802.11 b/g/n and Bluetooth, GPS • 1450mAh battery PROFESSOR (DR.) VINAY SHARMA The Freedom 251, complies with government's Make in India program. Freedom 251 is priced at just Rs. 251 (approximately $4), making it arguably the cheapest smartphone in the world.
THANK YOU PROFESSOR (DR.) VINAY SHARMA