Many companies are turning to open innovation to combat the challenges we’re facing as a result of the COVID-19 pandemic. Here are some of them, along with yet2’s insights on the coronavirus’ impact on business.
Open Innovation Portals
Ford Motor Company announced it is joining forces with firms including 3M, GE Healthcare, and the UAW to lend manufacturing and engineering expertise to quickly expand production of urgently needed medical equipment and supplies for healthcare workers, first responders and patients fighting coronavirus.
Companies and individuals who would like to contribute to this collaborative effort can submit their ideas and information at Ford’s open innovation portal at www.fordnewideas.com. yet2 is a partner of Ford’s and manages Ford’s open innovation portal.
yet2 and Alder Hey Innovation Centre has launched an open innovation portal to source innovative alternative healthcare supplies and solutions to beat COVID-19. The Innovative Solutions Portal will promote healthcare challenges and needs to fight the coronavirus pandemic. Visit alderhey.nhs.yet2.com to submit your ideas. #BeatCOVID
Insights from Seetha Ramnath
yet2 Client COVID-19 News
“Before the Covid-19 crisis, it was already clear that the current capitalist model is in need of repair. Globalisation and capitalism are good for a business like ours, but globalisation and capitalism at the expense of people and the planet are not. It’s therefore up to businesses like us, working with partners– NGOs, government organisations, academics, suppliers, customers – to drive a new model of capitalism, and build a better future.” – from Unilever’s Alan Jope on Repairing Capitalism, COVID-19, and Sustainable Living Plans, on edie.net.
In the past month, Mondelēz International has increased snack production in the United States in response to double-digit sales growth of its brands, including Oreos and Ritz crackers.
It has also hired 1,000 more workers for “front-line teams” in manufacturing, sales and distribution to get snacks onto store shelves faster, said Glen Walter, president of the company’s North America division. — from Gone from Grocery Shelves, Now There’s a Mad Dash to Find Them, New York Times
With corporate travel restrictions likely to be enduring in a COVID-19 world, yet2 wants to ensure global organizations can continue their technology scouting as efficiently and powerfully as before.
“Our traditional innovation tours leverage yet2’s global technology and ventures networks in particular technology hotspots,” said Tim Bernstein, CEO, yet2. “Our new virtual tours leverage the same networks, harnessing our scouting and vetting expertise to find smart innovations and competitive ideas clients didn’t know of otherwise. But now, instead of face-to-face meetings, they will meet with the 10 – 15 most promising potential partners virtually.”