Nokia is on the lookout for 3rd parties to impulse the development of new technologies, processes and business models. The company actively seeks new ideas for the different areas that would help Nokia appeal their customers, as well as optimize Research and Development.
The program in charge of sweeping the industry to find innovative ideas is called Fear of Missing Out (FOMO) and according to the company, it’s one of the biggest motivators in the tech industry these days.
Azita Arvani, Head of Global Partnering & Alliances Nokia Solutions & Networks, is the person in charge of the project, which main goal is to shape the future of connectivity.
Decoding 3rd party innovations
The magic happens at the world-renown Nokia Bell Labs, where the Nokia Global Innovation Scouting (GIS) team led by Avani continuously looks for different ways of enabling growth and reducing costs. The innovations could come from established companies or even startups that are related in any way to GIS’ endeavor.
Nokia is currently active in various countries like France, Japan, London. Finland, Germany, Israel and The United States; where they constantly look for new talents. So far, FOMO has successfully identified hundreds of companies that show promise by matching the needs of the program.
Nokia spent a total of €3.1 billion in Research and Development only in 2016, which highlights how committed the company is. According to Azita Arvani, working with imported innovations is not always easy, but the belief that bringing talents from outside the company remains essential for Nokia. Arvani calls it the art of decoding 3rd party innovations.
How to be part of the FOMO program
FOMO encourages companies to send them an email to email@example.com or log into their Open Ecosystem Network if they want to create a project or maybe share an innovative idea.
According to Nokia, Co-innovation with the ecosystem is a crucial aspect of their strategy to give an opportunity to people with creative ideas and smart solutions.
Businesses can also contribute to solving the industry challenges posted on Open Ecosystem Network. Another option is to try the Nokia Innovation Platform, where innovators can co-create solutions for the Internet of Things and be part of an open live network with Nokia Ecosystem Partners.
Also, if a company is seeking to explore new markets for their products, they can be part of the ng Connect Program where end-to-end solution prototypes are integrated and tested for business model validation.