Delivering End-to-End IoT Innovation: Why a Holistic Perspective is Important
Quelle: Pixabay
Building IoT solutions and services requires not only a well-developed and functioning technology stack including sensors, connectivity, and data management platforms. It also needs a sound and customer-oriented business model to deliver value to IoT customers and providers. For example, a remote monitoring and management solution for an office heating infrastructure can technically be implemented, but it requires more than that to run it as heat-as-a-service business model.
Faced with a multitude of technology-driven IoT initiatives with often unclear value contribution, internal management commitment to these initiatives is often difficult to achieve. This limits traction and speed-to-scale of individual initiatives. Thus, many IoT product owners face a dilemma of building a working technology solution while – in parallel – spending time on ensuring sufficient customer centricity, market focus and value potential.
Key questions that need to be answered and often are not sufficiently considered early on circle around the customer problem the technology is solving (“Job-to-be-done” in innovation terms), the willingness to pay of the customer to have that problem solved and the revenue model by which services are compensated. Later, it is often necessary to adjust the go-to-market approach and operating model for the new IoT service to grow into a real business opportunity.
To support the 1NCE customer community in addressing these questions, we are partnering with the Digitalization and Innovation experts from Excubate to provide end-to-end support from inception of a new IoT service to building and testing prototypes all the way to setting it up as a new scalable business.
Delivering on the IoT innovation needs of our customers
Together with Excubate, we have defined multiple ways to support our customers with IoT innovation. While Excubate provides the business value perspective and startup/innovation methodologies, the 1NCE data management platform and connectivity solutions ensure a smooth and effective build-up of the technology stack, fast testing capabilities in real customer environments and effective scalability.
Example 1: Use case workshop to shape a scalable connectivity business model
In a one- or two-day workshop with experts from Excubate, 1NCE and a cross-functional customer team including technology, operations and sales experts, we apply a design-thinking-based methodology to identify the real jobs-to-be-done in the market and design the core elements of a future IoT-based business model. Typically, up to 5-6 specific business model ideas with high value creation potential are developed and ready for further validation and prototyping with a broader set of customers.
Example 2: Corporate Startup Campus to validate and build IoT-based minimum-viable products (MVP)
Based on an initial IoT solution idea, 1NCE and Excubate run a 12-week innovation program to build a validated IoT business model, including a prototype and a minimum-viable-product (MVP) that already delivers some benefits for the market. Together with a small customer team that covers all relevant startup-capabilities from technology to sales to finance, we apply stringent innovation methodologies within an intense and agile project setup, resulting in a scalable IoT product and/or new business model.
Example 3: IoT organizational setup and corporate startup building
Some of our customers have already built and validated a market-ready IoT solution and wonder about the best organizational setup to scale it as a business. In these situations, Excubate helps deciding on the right operating model and supports with setting it up (aka “excubating” it) as a corporate startup with everything that is required with 1NCE providing the technology.
A synergetic partnership
Both partners expect strong growth of IoT-based business models and an immense need to develop, battle-test and refine these models and the underlying technologies. Combining 1NCE’s and Excubate’s technology and business-building capabilities into a well-oiled IoT innovation machine is a logical step to make it as easy as possible for industry clients to benefit from this growth potential.
“With its unique blend of management consulting, innovation- and digital business model expertise, Excubate nicely complements the 1NCE product portfolio and enables our customers to leverage the full value-potential our connectivity solutions offer.” says Arne Aßmann, Head of Strategy and Business Development of 1NCE .
Markus Anding, co-founder and Managing Director at Excubate , adds “As innovators and business builders for our clients, we are always eager to bring top-notch technology solutions into our end-to-end innovation projects. With 1NCE we can effectively build and implement new IoT-based business models and even more become a one-stop-shop for our clients.”
Not only content-wise, also culturally the partnership builds upon the strengths of both partners with their results-oriented and pragmatic startup-DNAs, which has already shown in first mutual client projects.
About Excubate
Excubate is a management consulting firm for digital transformation and innovation and a company builder, supporting mid-size and large companies in transforming their business models for the digital age. With a team of 25 people based out of Germany, Excubate operates internationally for clients across all major industries. The team delivers state-of-the art innovation, digitalization and startup results and brings a strong entrepreneurial mindset that supports clients’ culture change.