Open Innovation: Best practices for raw material companies13 Dec 2018
Adopting a collaborative approach to innovation can greatly benefit companies in the raw material industry. Th...
Launched in October 2015 the Fingrid idea competition challenged companies of all sizes to submit their business ideas addressing the topic of grid maintenance development. Which, essentially, means enhancing grid performance, reducing inconvenience caused by power outages and lessening environmental impacts and energy consumption. All while reducing the cost of power delivery.
The winners were announced on 19 May 2016 at the Fingrid’s Maintenance Management 2020 event. Out of thirty-six submissions, four finalists were selected based on the viability of their suggestions. The fortunate four were given the opportunity to co-develop their concepts further, together with Fingrid:
Empower – smart glasses for maintenance, utilising virtual documentation technology
Noiseless Acoustics – acoustic camera for detecting equipment faults
Scoopshot – locating faults through photo crowdsourcing
Vaisala – new sensor-based fault detection method that does not require a system outage, thus bringing savings in maintenance costs
According to international comparison studies, Fingrid – the Finnish national electricity transmission grid operator – ranks among the leaders in terms of cost-efficiency and system security of the grid. However, the company is always on a lookout for fresh concepts. Embracing open innovation within this idea competition, Fingrid expanded the technology search outside company’s walls — and even across industry boundaries – as solving society energy problems requires collaboration.
Known for the ability to bring together unique backgrounds, perspectives and expertise, Spinverse actively supported Fingrid in this idea competition. We enthusiastically took care of the project management, planning and organisation; partner activation and communications; as well as provided business development coaching for the selected candidates.