It is an indisputable fact that “innovation” is considered to be one of the most important aspects of growth by companies of all shapes and sizes. One search on Google will give you a plethora of statistics on that note. The question, however, is on the commitment that organizations are ready to make towards innovation and how they are approaching it. The thing about innovation is that it doesn’t strike every day. Yet, one has to keep going at it all the time for that one light bulb moment.
At Altimetrik, with our own share of trial and error, we look at innovation as the strongest investment. For us, innovation is not one big bang idea. It is in the everyday things that our people do. Any idea that brings about improvement in productivity, efficiency, saves time or cost or generates better output is innovation. We encourage our employees to think And we also help them with a platform to collaborate with others and experiment with their ideas. By creating a holistic and conducive environment, we are trying to make innovation intrinsic to our culture.
Ideathon is one such program from our Innovation Office run over 3-4 months that aims to cull out ideas from our employees that could impact our business, our customers or social issues. This is the second year of the program.
Running since February, Ideathon 2020 is now in its final phase where 24 Innovators are working on building proof of concepts for their ideas that have been shortlisted from an overwhelming submission of 288 ideas! Last year in the first edition of Ideathon, about 130 ideas were submitted. This staggering growth in the numbers is a testimonial to the growing spirit of innovation in the organization. Not all ideas make it to the top, but the purpose of making our employees more thoughtful and innovative is getting served.
This year, we are looking at very interesting ideas across a wide spectrum. I am excited to share some of the ideas topping the charts:
- Making payments easier and user friendly with voice-based digital wallets
- Tokenization as a service to simplify payments backed processes in fintech
- Blockchain-based Recruitment and verification platform
- Using data intelligence to map COVID positive symptoms with people at large and reduce sample size for testing
And many more.
We anxiously wait to check out the POCs that are getting build and select the top 3 winners of this year’s Ideathon. Stay tuned!