Innovation in a Digital Age - What is Involved?

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  The Titanic Building sets the scene for the third year of the prestigious annual Digital DNA conference, an apt location which blends the old with the new to incorporate cutting edge technologies to deliver their services, Titanic is a business that has embraced technology and has reaped the rewards.   

  Technology and innovation is something that businesses can no longer escape from, several speakers at the event made that clear; ‘Today is the slowest day of technological change for the rest of your life — it is only going to get quicker’

  A phrase that no longer shocks or astounds the public, but something which is sending business owners into a flurry of planning, consulting and some head scratching as they consider how to accommodate a new generation of tech savvy customers. 

  The ‘digital revolution’ is something that can no longer be ignored, and has had a profound effect on how the majority of us do business.  A complex challenge for many businesses, and one that raised many questions at the ‘Continually Innovating in the Digital Age’ workshop at the Digital DNA event.

  Sync NI caught up with Aaron Rosland (Counsellor at the Canadian High Commission) and Matt Saunders (President and Managing Director of Ryerson Futures) who led this workshop to find out just what it entails to be ‘innovative injavascript:mctmp(0); the digital age’. 

  Matt started by explaining that innovation in any sense is improving upon something that is existing, and essentially using the tools available to us to ensure that innovation happens faster. 

  No business or person is left untouched by this new era of behaviour, and ultimately adapting new technologies in business result in businesses doing more trade, faster.  A no brainer really, but what is keeping businesses back?

  Matt and Aaron explained that there is an element of fear of the unknown, as well as implications such as cost and loss of control which all contribute towards a reluctance from business owners to embrace technologies in business.

  But there are many positives.  Working smarter and faster all come part and parcel of embracing technology and innovations in your business.  It allows you to ‘play on a level playing field’ with many bigger, more established companies and even inspire diversification in business and attracts funding.

  Innovation within business sounds like the way forward, but how do we embrace this within Northern Ireland? Matt and Aaron explained that key to creating and stimulating an innovative culture in any community, is to create that eco-system which allows for businesses to gradually embrace technology within their business, under the right guidance and support.  Talent needs to be readily available for businesses to utilise, and there needs to be a focus on young people who are taught innovative ways to do business, who can then give back to businesses. 

  Government incentives also play a big part in encouraging innovation in business; the Shred Credit programme offers tax incentives in Canada for those who are developing technology. 

  Matt Saunders heads up ‘Ryerson Futures’, a “Founders First” Accelerator program that selects and assembles top technology based start-ups, accelerating their go to market success with real customers, real investors, and actionable guidance.    

  The programme is typical of the support that is exactly what is needed to alleviate some of the fear and questions that businesses have when they want to innovate, but don’t quite know where to start.  It provides businesses with a range of levels with support, mentoring, guidance and funding to implement the changes that will really help their business, as well as access to the resources that could potentially create the technology needed within their company.  A model that should certainly be followed in other countries, a transference of skills in a positive cycle of skills to business. 

  However, Matt and Aaron also stressed that a strong belief in innovation amongst the business community must exist in order to really inspire a change that has long term impact, this creates a support system and a culture that expects and supports change. 

  In short, it is evident that no matter what size of business you run, innovation and the embracing of new technologies is essential if you want to grow and develop your company.  Customers won’t wait for you to catch up, the time to innovate is now!

  For more information visit:  www.investinontario.com  or http://ryersonfutures.ca

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