Global Business Innovation Conversations 2019 - Video 2

[Start transcript]

[Kelly Hutchinson]

Innovation is a mindset. And open innovation is about an open approach.

[Hans Erler]

What was good in the past may be bad for today, and that's why we need innovation.

[Matthew Young]

We are here tonight to talk about open innovation and how people can collaborate and come together.

[Justyna Dabrowska]

The experiences of other companies, how they try to embrace it.

[Bernard Lee]

Realising that not all the best ideas come from within our organisation.

[Kelly Hutchinson]

Blurring the boundaries of where that innovation might come from.

[Matthew Young]

Leverage the power of one plus one equals many.

[Hans Erler]

Innovation in the tech age follows new logics, openness, speed and transparency.

[Peter Carney]

The big thing that's happening in the world is that there are a whole lot of technologies breaking at the same time. I don't think it's possible for any company to deal with all those technologies by themselves.

[Matthew Young]

Australia has lost innovation from its national agenda. How can we collaborate? How can we create scale, so that we can do something more than just survive?

[Hans Erler]

Every new era offers new possibilities for development and action. Innovations in one field, inevitably, lead to innovations in other fields. Collaboration, it's a pretty reclusive for open innovation.

[Justyna Dabrowska]

It's all about that cross-fertilisation to work collaboratively within different industries.

[Kelly Hutchinson]

Companies who are competitors can actually work together collaboratively. Collective action, there is so much more you can achieve.

[Bernard Lee]

When you do things together, you can obviously create much greater opportunities.

[Matthew Young]

Become more globally competitive, really energise our industries and our businesses.

[Peter Carney]

So that you can absorb those technologies faster and better.

[Tena Obradovic]

The panellists were great, [inaudible] *0:01:40.8 a lot of interesting questions.

[Joona Keränen]

It's really interesting to hear different perspectives on open innovation, how could they can really embrace it.

[Matthew Young]

The problem is identifying your competitor, acting on the right competitor.

[Bernard Lee]

Competition is new technology, it's new disruptions. Part of innovation is not about fearing and defending against that, but about adopting it.

[Anne-Laure Mention]

Pursue the unexpected. Challenge your initial assumptions.

[Matthew Young]

It's us working smarter, it's us engaging with all the resources that we have.

[Kelly Hutchinson]

Fostering the applications of technologies into addressing social challenges.

[Peter Carney]

Australia is 20 million people in the world-- it's about 8 billion people. The opportunity is there and a significant one for Australia.

[Hans Erler]

Open innovation has to do with going to other countries, learning to know about other people, about other equal systems.

[Jason Loo]

Tonight's example of Swarovski was excellent.

[Hans Erler]

We are a company now having $3 billion in sale. Open innovation, it's in our DNA.

[Himanshu Gupta]

It's good to know that organisations throughout history of 200 years actually thinking about innovation the way the younger generation has.

[Justyna Dabrowska]

It's not only about innovation, but how you actually organise internally.

[Bernard Lee]

The one thing that it comes back down to is culture, provide an environment where we are okay to take a little bit more risk.

[Justyna Dabrowska]

That safe space for intelligent failures.

[Bernard Lee]

Really gay turnout in terms of the people.

[Justyna Dabrowska]

We had more than 70 percent of people coming from the industry.

[Matthew Young]

Great diversity of views and understandings.

[Jason Loo]

It was buzzing, in terms of everyone wanting to get all this knowledge.

[Tena Obradovic]

The great thing is that, now, we have the opportunity to ask them.

[Bernard Lee]

The kinds of questions that were asked, there's a lot of passion and real interest in this space.

[Tena Obradovic]

I'm really glad that I had the opportunity to be here.

[Peter Carney]

It's a great initiative by RMIT to host these events.

[Hans Erler]

They have a special expertise in dealing with this innovation equal systems that are changing.

[Joona Keränen]

We need to have these kinds of conversations to spread important and emerging insights.

[Matthew Young]

Because a discussion is a beginning of open innovation and collaboration.

[Peter Carney]

There's ever marching creativity in humankind and companies need to keep up with that, match that and rise to the occasion.

[End transcript]