We need to build platforms that can foster collaboration, convergence and creation to deliver effective solutions for urban rejuvenation

How do we build sustainable societies for the future? We believe that the future is about technology convergence through collaborative approaches and creating solutions that drive positive change in societies. With technologies changing and innovations getting launched at a feverish pace, the approach of creating value needs to change. As the world grapples with climate change, the industrial sector needs to become extremely efficient in terms of resource utilization and productivity.

Areas such as Energy, Water, Environment, Waste Management and Healthcare need innovative and low-cost interventions.

It is imperative to create an environment for developing effective and sustainable solutions for our habitats most pressing problems. This requires us to build platforms where global and national corporations come together to provide innovative processes and technologies.

Creating a ‘Platform Solutions’ Economy

As a nation, we need to consider the kind of ‘Platform Solutions’ required to be built to address these challenges. These solutions will emerge from knowledge economies that are created quickly, and use real time data. No single entity, organization or government will be able to solve these issues. Once ‘Platform Solutions’ that deliver converged technologies and innovations are created, the size of the organization will not matter. A number of organizations and entities can then engage with these ‘Platforms’. The intellectual property will still be with the domain developer; however, interdependence would have created a unique solution where everyone can win.

Embedded within the philosophy of ‘Platform Solution’ is the idea of ‘circular economic approach’ where wastes and by-products from one process can become the input to the next process causing minimal resource utilization.

Building a Home for Platform Innovations

Collaboration through these ‘Platforms’ will enable new innovations to be developed for ‘bottom of the pyramid’ markets. This will also lead to building a ‘Reverse Innovation Engine’ for the world. To harness this engine and drive large-scale positive impact on societies, we need to create a ‘Convergence Innovation Centre’. Benefits of such interventions will change societal behaviours.

Organizations that are strong in technology, market access and people capabilities will undergo a major transformation over the next 3 to 5 years. Disruptive technologies will become the norm. Therefore, the fundamental strategy is to create a ‘Convergent and Collaborative’ mind-set that can leverage technologies and solutions from the global ecosystem. The convergence approach will create new markets, solutions, products, innovations and new technologies that can be beneficial for emerging markets. These practices can be applied to both brownfield (existing urban places) and greenfield (yet-to-be-built) cities. Therefore the strategy is to Converge, Create and Change.

Visit our website: www.valluriorg.com