Need for Speed
01/2014 — 06/2017. Project ended.
Read the N4S Cookbook for successful internal startups: http://www.n4s.fi/publication/cookbook-successful-internal-startups/
Over the past several years, companies have had to change to meet the threat of accelerating competition coming from startups and other global industry players. Digitalization is the name of the times, and many companies are evaluating what to do in order to stay in the game.
The N4S answer to this question is to use internal startups as an innovation accelerator mechanism to better select and execute the correct innovations. This mechanism brings cheaper innovation execution and faster time to market, which eventually transforms the company into a growth company.
Internal start-ups should have freedom from the rest of the organization but still be integrated into the corporation. Freedom is needed for quick execution and
market trials, as well as for refocusing based on the feedback. Still, corporations have many assets and competencies, which will come handy during the process.
For example, legal and pre-production services are just a call away.
Agora Day 2016: Results from University - Need for Speed?
Lue julkaisu: Metsänomistus ja digitaaliset metsänomistajapalvelut (2016)
Need for Speed (N4S) will create the foundation for the Finnish software intensive businesses in the new digital economy. N4S adopts a real-time experimental business model, and provides capability for instant value delivery based upon deep customer insight. The program is executed by the forefront Finnish software companies. The consortia consists of 13 large industrial organisations, 16 SMEs and 11 research institutes and universities. The four-year program of Digile (2014-2017) is partly funded by Tekes.
The internet is the first truly global platform for the digital economy and will create significant new business, economic, and social opportunities. Digital resources are constantly available on-line, and for all to use. Increasingly, products and services are not developed by a single company but rather by a network of collaborating companies. This network of companies contribute to the ecosystem through different elements from both established and newly developed products, forming new, even more compelling offerings.
The long-term plan of N4S is to serve other companies where software plays a dominant role in engineering—for instance, those associated with the automation industry—by making the program’s results, tools, and processes widely available.