Innovation Race 2022: What is an Innovation Race?
The Innovation Race is a month-long event that will be hosted online by the Norfolk and Suffolk Innovation Network. It’s not like any other kind of tech event you will have ever been involved in. We’re going to accelerate your knowledge of IoT, LoRa and LoRaWAN and support you with plenty of content during our month-long programme this March.
We have built a new kind of Innovation Programme with a structure of curated content and resources that will guide your growth along the way, connect you with the right people in Industry and Public Sector and enable you to solve real world challenges.
Anyone can participate, either by forming a team or getting involved as an audience member. All of our content will be aired and available on YouTube and it’s completely free to join. Anyone from anywhere can make a team of up to 8 people, and there are 8 team places to fill for our first cohort.
Most of us are familiar with the term IoT and innovation, but what do these terms really mean?
IoT or the “Internet of Things”, are devices that utilise an internet connection in order to report data to a central database or application and an innovation is a new product, idea or concept that has never been done before, in that way. It can mean using new technology to perform perfunctory tasks or complex tasks in a novel way, but in the Innovation Race we want to see how your innovative solution saves money or resources and it must be built with sustainability in mind. The world really is your oyster when it comes to this type of innovation and this is why we are hosting our first ever Innovation Race based around IoT and their networks.
Suffolk and Norfolk have invested in an extensive LoRaWAN network, which is accessible to the public at no cost. This allows people to access new services in Suffolk and Norfolk that you won’t find anywhere else currently (2022) and businesses to utilise this wonderful technology network to produce brand new types of products and services at a lower barrier to entry and cost whilst up-skill the workforce. It's a win-win-win situation and it’s now our mission to spread the word, encourage businesses to build new solutions or expand their current solution to include IoT. That’s where you come in.
We would like to invite members of the public, marketers, thought leaders, students, developers, designers, database wizards, UI/UX geniuses, scientists and data scientists to join the Suffolk IoT Innovation Race.
You probably already know about the “4 Types of Innovation”, you just don’t know it!
1. Incremental Innovation
Incremental innovation can be perceived as continuous innovation. It builds on existing knowledge of technology to continuously improve on the existing product in the minority and targeted existing markets.
2. Radical Innovation
Radical innovation is the opposite concept of Incremental innovation. This one applies either new technology or combines new technologies with existing technologies, which targets new markets to build new products.
3. Architectural Innovation
Architectural innovation is a redesigned method to move products/services into a new market, still based on existing knowledge of core technology.
4. Disruptive Innovation
Disruptive innovation is a new product that disrupts the existing market with the help of new technologies. It often starts at low-demanding customers with a “good enough” product performance.
(Source: TechSource)