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A $13B diversified industrial component supplier with over 100 autonomous business units needed a strategy to unite all business units behind a common and shared approach to developing an Internet of Things (IoT) platform and IoT solutions. They realized that independent IoT activities at the BU level would become a disaster and they wanted to create a corporate innovation model that would support and accelerate individual business IoT efforts at low cost.
What started out as an effort to examine IoT technology rapidly turned into a project to redefine the company’s innovation strategy to deal with the digital transformation occurring throughout the industrial world.
Together, we produced the following outcomes
A team of three people – one from the company and two from Inovo – led this effort to create a new approach to industrial IoT for the company. Together they did the following:
In the course of 5 months, the 3-person working team and an extended advisory team accomplished the following:
“Inovo helped us gain some key insights very quickly. The ecosystem mapping and voice-of-the-customer work will be a highlight at our opportunity portfolio review.”=
– Lou Ruocco , Manager, Corporate Ventures and Business DevelopmentDow Corporation