Modern Fertility's Afton Vechery, left, and Carly Leahy founded the company to make fertility tests less stressful and more affordable. Visit or website and get in touch! University of Chicago, Professor, Nobel Laureate 2019. You may’ve not heard of “closed innovation”, but I’m sure you’re familiar with it. Lowe's Labs implement story-telling techniques, VR and AR visualisation methods, and use robotics, on-demand manufacturing processes and collider programmes in order to find the right paths to innovation, Company's HQ: Mooresville, North Carolina, United States, The Innovative Side of the Company: Concept spaces where in-house designers create collections that react to the needs of the city they are in and where they can learn from one another, Company's HQ: Vancouver, British Columbia, Canada, The Innovative Side of the Company: With the opening of M Beta, an Hotel Innovation Incubator, Marriott has transformed the traditional hotel experience, replacing it with a completely new digital experience, The Innovative Side of the Company: MasterCard Labs want to be pioneer in accelerating payment processes and facilitate the transfer to a society that is cashless, The Innovative Side of the Company: Providing new disruptives services for organisations that want to get the most out of the digital experience, The Innovative Side of the Company: Partnerships with pioneers and visionaries to disrupt the future, using data management, predictive analytics, simulation and design, The Innovative Side of the Company: Incubator for ideas and innovative processes that disrupt the role of insurance. What does it mean to be an innovative company? We are a catalyst for dialogue, debate, innovation and deal making to help lead growth across all areas of the industries we serve. Inc. helps entrepreneurs change the world. Recent medical advances have made finger-prick testing routine for drug analysis, nutrition monitoring, and HIV screening, but it wasn’t widely applied to fertility testing until Modern Fertility and its partner labs ran studies that confirmed the method’s accuracy for measuring target hormones. The movie Eighth Grade, YouTube star Bo Burnham’s directorial debut about middle-school Sturm und Drang in the age of social media, was a hit among critics at the 2018 Sundance Film Festival. Last year, the league broke attendance records for the fourth straight season; its streaming service grew subscribers by 63%; and total revenue increased 25%. As CEO of Kano, which makes kits that let anyone code and build their own computerized toys, Alex Klein is on a mission to “give [people] an understanding of—and influence over—the tech in their lives.” In October, Klein launched the Harry Potter Kano Coding Kit, a $99 wand-building set that teaches users how to program accelerometers, magnetometers, and gestural controls. Read on to learn how these 50 companies are creating the future today, plus see our top-10 lists of the Most Innovative Companies by sector, from advertising to wellness. Technology is developing at an exponential pace, yet productivity is slowing down. For matching cancer patients to breakthrough treatments. Even though a few common key success factors for open innovation can be named, there’s plenty to be learned from companies who’ve actually been using open innovation.. How do you mail customers clothes they’ll love, and that fit them perfectly, without the client ever getting measured or viewing the inventory? 19. [Photo: Jamie Chung; Food stylist: Ali Nardi at Apostrophe]. “Don’t make people do the math,” says Noah Kerner, CEO of digital-investment pioneer Acorns, which is on a mission to help people squirrel away money as effortlessly as possible. Its 56-foot Electron rocket can carry only about 500 pounds, but it can reach space for just $5.7 million per launch (SpaceX, by contrast, spends $62 million to $90 million per trip), making putting satellites into orbit a possibility for companies both small and large. Find solutions through our innovation portal Sometimes it is not easy to find innovative solutions only with your in-house talent. Industry Focus: Telecommunication Equipment, Networking Equipment, The Innovative Side of the Company: IBM Incubator and Innovation Space give employees, customers and start-ups the chance and the right tools to innovate and disrupt the market, Industry Focus: Cloud Computing, Cognitive Computing, Company's HQ: Armonk, New York, United States, The Innovative Side of the Company: Space10's goal is to design a better and more sustainable way of living. Besides, special projects are put in place for helping and providing tools to developing regions. “Those impacted the most from displacement—young children—are receiving the least,” says Sherrie Westin, Sesame Workshop’s president of global impact. The goal is to innovate the way people interact in particular spaces, Industry Focus: Hospitality, Online Marketplace, Company's HQ: San Francisco, California, United States, The Innovative Side of the Company: Lab126 represents the inventive side of Amazon. One reason: the year-old NBA 2K League, the first extension of pro sports into esports, which has 21 teams and games that stream on Twitch. Amid the music industry’s digital transformation, Universal is redefining what a modern label should look like. Valuer.ai curated a list of100 corporate innovation podcasts. Mobile apps now allow consumers to trade stocks and crypto (Robinhood), save money (Acorns and Qapital), and make payments (Venmo)—and most have one thing in common: Plaid. Soon he was pushing for a job. Brazilians have traditionally been able to bank only with a handful of large institutions that charge some of the highest lending rates globally. If the idea of a smart coffee cup sounds silly to you, you probably haven’t tried the Ember Ceramic Mug. These efforts helped Grab hit $1 billion in revenue in 2018 and attract more than $3 billion in fresh funding to expand. Why not go out and find fresh and out-of-the box ideas? In the last two decades, we’ve created a network of innovation communities that help founders build companies a (Users pay Unity a flat subscription fee rather than a percentage of game revenues.) Later this year, it’ll add healthcare services from Ping An, the Chinese digital health giant. Read more about how Stitch Fix's radical data-driven way to sell clothes is reinventing retail, Read more about how Truepic is using image authentication combat deep fakes and disinformation, Fast Company & Inc © 2020 Mansueto Ventures, LLC. Chiara is Italian and came to Denmark around 9 years ago. Over 350 global corporations selected Israel as their source for innovation, understanding that the rapid rate that technology changes and the fierce competition that exists, does not allow these companies to rely just on their R&D departments. Founded in 1994, Swedish company Oatly was the first manufacturer to commercialize oat milk, but it was only after launching in the U.S. in 2016 that the product became a sensation, at one point last year selling for $200 per case online. The numerous Labs include, for example, exploration of: ways technology can more naturally interact with human behaviour; new ways of living in the era of housing problems in many urban realities; healthy alternatives to industrial production of food and innovative methods for building spaces in the digital era, The Innovative Side of the Company: Research and investments on ready-for-growth companies, to bring them to the next level, The Innovative Side of the Company: IPG Lab investigates and identifies innovation that will be part of the media landscape change, The Innovative Side of the Company: ISS Corporate Garage Lab is an autonomous start-up lab where partners and visitors shape innovative service ideas to bring to the public, The Innovative Side of the Company: Facilitating ways to implement partnerships in all sectors, through a flexible business model, Industry Focus: Medical Equipment, Pharmaceuticals, Company's HQ: New Brunswick, New Jersey, United States, The Innovative Side of the Company: Founded by JPMorgan Chase&Co., the Financial Solutions Labs aims to improve financial health in the US, investing in innovative solutions, The Innovative Side of the Company: Teams involved in exploring and reinventing the way shopping is done, through technology and innovations, Company's HQ: Menomonee Falls, Wisconsin United States, The Innovative Side of the Company: The Lab focuses on patient needs. My first real job at age 27 was at the toy startup, Worlds of Wonder. AnchorFree’s Hotspot Shield VPN, software that encrypts users’ online activity, was downloaded 100 million times in 2018 (up from 70 million in 2017). At the same time, through a philosophy of open innovation, it enters in cooperation with start-ups and other partners, in order to grow and disrupt the market, The Innovative Side of the Company: Adobe's ecosystem builds innovation, consolidating a strong company's culture, where employees become part of the process of disruption with ideas and receive support for these ideas to be experimented and implemented, Company's HQ: San Jose, California, United States, The Innovative Side of the Company: Aetna Labs work on improving patient outcomes rapidly. Provide additional resources for external innovators with disruptive partners. Open innovation is the practice of businesses and organizations sourcing ideas from external sources as well as internal ones. Target's two-year-old Project 62 furniture line, which includes the Copley Plastic Counter Stool, has given the company new momentum. Apple’s most impressive new product of 2018 wasn’t a phone or a tablet, but a chip: the A12 Bionic. The creativity of the teams participating in the event has brought to ABN AMRO's attention, innovative solutions about new payment methods implementing blockchain technology, The Innovative Side of the Company: Accenture Labs support companies in keeping the pace with future trends and technologies. Shan-Lyn Ma and Nobu Nakaguchi, both Gilt Groupe alumni, had seen firsthand the things that can derail an e-commerce company, such as excessive inventory and a cumbersome returns process. 2019 Jun;33(3):193-198. doi: 10.1007/s40290-019-00280-5. As a result, NFL merch sales rose 50% last year and Fanatics won deals with major European soccer clubs and esports’ Overwatch League. Airtable is a cloud-based workflow system that lets anyone—from intern to CEO—analyze data in a non-scary way. While traditional vintners make a wine and then market it, Winc creates bottles based on more than 5 million customer ratings from its 75% millennial subscriber base. [Photos: Jason Richardson/Alamy Stock Photo (Swift); Prince Williams/Wireimage/Getty Images (Drake); Cheshire Snapper/Alamy Stock Photo (Mendez); Marta Perez/EFE/Alamy Live News (Mr Eazi); Matt Crossick/PA Images/Alamy Stock Photo (Malone); Lev Radin/Alamy Stock Photo (The Weeknd); NBC/Getty Images (Musgraves); Kevin Winters/Getty Images for iHeartRadio (Grande)]. INDIANAPOLIS, Aug. 14, 2019 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) is launching an open innovation challenge to encourage individuals and teams across the U.S. to identify and submit pioneering digital health solutions aimed at transforming inflammatory bowel disease (IBD) care. Wandelbots won the 2nd place Link to press release Putting the accent on human capital, Accor supports employees and customers to communicate ideas. Provide the tools and internal resources to grow quickly. [Photo: Jamie Chung; Food stylist: Ali Nardi at Apostrophe]. Apple Music is gaining a foothold in India, and Spotify plans to enter the market in 2019, but “to achieve scale in India you need local advantage,” says JioSaavn CEO Rishi Malhotra. Thanks to the usage data, Aetna Labs Team enables processes and best practices that have measurable value for both customers and patients, Company's HQ: Hartford, Connecticut, United States, The Innovative Side of the Company: Samara is Airbnb in-house innovation design studio, working on exploring new ways to expand the company's mission, through projects related to design, architecture, hardware and software engineering. Often the hardest part of digital transformation is the overcoming internal procedures and bureaucratic obstacles. “This generation demands experiences, which also manifests itself in food and beverage,” he says. Open innovation is a method for a company to achieve innovation based on the collaboration with a variety of knowledge sources that exist outside of it. 180,000 Publicly Traded: No Annual Revenue: $75.103 billion Why It Made the List: This Chinese technology firm might not be the first that most people think of when it comes to open source development, but in recent years it has been contributing heavily to Linux. 3M, Corporate Scientist and Chief Science Advocate. Just over a year ago, Foundation Medicine received FDA approval for FoundationOne CDx, a test that analyzes tissue samples for alterations across 324 genes known to drive cancer, helping oncologists steer patients to immunotherapies, clinical trials, or genetically matched drugs made by partners. Networking Equipment, Consumer Electronics, The Innovative Side of the Company: Investing in fintech start-up companies is the way Nordea has decided to walk the way to innovation. His book, “Open Innovation: The New Imperative for creating and Profiting from Technology” (Harvard Business School Press, 2003), provides a detailed description of the open innovation model. While Jeff Bezos and Elon Musk brag about their enormous rockets, capable of carrying heavy payloads into space, L.A.-based Rocket Lab has embraced a different strategy. [Illustration: Illustration: Kevin Moran]. The duration of the Accelerator is of 13 weeks and includes different learning stages, like introduction, mentoring, investment and access to technical expertise, Industry Focus: Banking, Financial Services, The Innovative Side of the Company: Bayer Open Innovation proposes different options to enter in collaboration with the company. ennomotive will help you describe your challenge and our open innovation hub of +20,000 engineers and solvers will quickly submit the solutions you are looking for. [Photo: Aaron Richter]. These go from partnership models to cooperation with Universities, to hiring process of talents that know well how to apply innovation. Companies already reviewed in this series include: Starbucks, Riversimple, Moodle, Ning, CureTogether, Innoget, Dell, Basecamp, Floss Manuals, LibraryThing, The Apache Software Foundation, BlueThink, Amazon Marketplace, 99 Designs and Atlassian. Closed innovation relies on the idea that internal expertise (ideas), along with an iterative process for managing that exper… ... open innovation is already well established in the pharmaceutical sector and used to supplement R&D in the process of bringing new medicines for patients faster, and at a lower cost. Coca-Cola is one of the pioneer companies in the field of innovation back to the Coca-Cola fountain dispenser designed… The main fields of application of this research at the Labs are: exploratory research, directed research, consulting, product incubation and heterogeneous computing, Industry Focus: Enterprise Software, Cloud Computing, Company's HQ: Redwood Shores, Redwood City, California, United States, The Innovative Side of the Company: Panasonic Innovation Center is the incubator for the automative In-Vehicle Infotainment technologies of the future, Industry Focus: Electronics, Semiconductors, Home Appliances, The Innovative Side of the Company: Qualcomm hubs, where students have the chance to discover their own unique talent in science, technology, engineering and maths (STEM) and start-ups are given the tools they need to drive innovation, Industry Focus: Telecommunications, Semiconductors, Company's HQ: San Diego, California, United States, The Innovative Side of the Company: Red Hat Open Innovation Labs give the chance to developers to learn how to build apps following Red Hat standards. 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