Member Article

Embracing innovation for the future of business

Erasmus Holm, marketing director EMEA & APAC, Stibo Systems, on tapping into the inventiveness of a new generation

‘Millennials’, the generation that reached adulthood after 2000, will become dominant in the workplace within the next couple of years, with a generation of digital natives not far behind.

Unlike their current employees who have had to learn to adapt to the digital landscape as it has evolved, businesses will soon be run by those who have grown up perfectly at ease with mobile devices, touch screens, and the internet.

As this upcoming generation reaches employable age, these businesses must now consider the best ways of engaging with them, and how they can attract the talent they need – whether locally, or by casting their nets wider across the country.

Combining stability, energy and creativity

Here at Stibo Systems, a Danish technology company with its roots in data management, we believe our group has found a way with the creation of the Stibo Accelerator, sponsored by our parent company Stibo A/S. Combining the stability of a big business with the energy and creativity of local students, the Accelerator is equal parts student outreach, start-up and ideas factory.

Masters students from local universities join the programme for three-month stints and are provided with office space and support for their academic theses. In addition, they are given access to real-world contacts at international businesses with whom they collaborate and work alongside on their research projects, and with whom they’re encouraged to share their ideas.

All students participating in the Accelerator programme are invited to give presentations to regular company staff, and are expected to brief any of the company’s clients who visit, as well as attending one or two external events where possible.

At the end of their studies, the students are free to walk away into whichever career they choose, and Stibo Systems doesn’t lay claim to any of the ideas generated, many of which are often tangential to the company’s goals. Even though business ideas and staff do come out of the project, the company doesn’t promote it as a recruitment tool.

While the benefits of having their ideas backed by a big business are obviously appealing to students, providing them with much needed real-world business experience, as well as financial and intellectual support, the benefit to Stibo Systems is arguably less clear.

It’s perhaps worth considering, therefore, the background to the Accelerator project and the people behind it.

Behind the Accelerator

Stibo Systems is based in Aarhus, Denmark’s second largest city, which has a huge student population of around 40,000 from which the Accelerator programme finds most of it candidates.

Erik Kiaer inherited the company from his father and, having thoroughly modernised it, transferred ownership into the hands of a foundation in 1966, writing a set of guiding principles for the trustees to adhere to before retiring from the business. These principles were, effectively, Google’s “don’t be evil” mantra 30 years before the web giant was formed.

After seven years as head of marketing for one of Stibo’s divisions, Kim Svendsen built on the ground laid by Kiaer’s principles by creating Stibo Accelerator in August 2014, ever since then he’s been its director, and only full-time employee.

Svendsen is aware that someone from this current crop of digital natives could be behind the next Facebook, and is concerned that, once they graduate, their creativity might be hampered as they try hard to fit in to corporate culture. Instead, he wants them to hit the ground running and bring their creativity into the workplace.

A blend of students, innovation and opportunities

In addition to students working toward their graduation, the Accelerator also welcomes local start-ups such as current incumbents, the Creative Vikings, whose co-founder, Tom Quast, was one of the Accelerator’s first students in 2014. The Creative Vikings produce digital products for local companies, including Stibo Systems, and make themselves available as a source of practical advice to the students in return for the free office space.

This heady mix of a local start-up working alongside a dozen creative students makes for a significant number of creative minds costing Stibo Systems little more than the price of their lunch.

Ultimately, the point of the Accelerator is about culture.

By taking some of these young people to exhibitions, or to share their knowledge on the latest technology, innovations and market trends, Stibo Systems encourages them to be innovative and forward-looking. At the same time, the students themselves have the opportunity to meet real people in real businesses who can support the research for their dissertations. In addition, the experience they gain from working on real-world projects will significantly increase the marketability of their CVs.

It could be described as a blend of students, innovation and opportunities that benefits everyone concerned. There’s an exchange of services; ideas and press opportunities in return for support and access.

Having the backing of a large company creates opportunities otherwise unavailable to students, and our clients benefit from academic research relevant to them that’s produced to a high level of proficiency and presented to them free of charge.

The Millennial generation represents the future of business. As flag-bearers for the digital revolution, they are set to change the way we do business for ever. Embracing their ideas and innovation, and supporting them in their professional development can only benefit both students and businesses alike.

FACT BOX

• 22 projects run in two years
• 49 students through the program
• 2 start-ups launched
• Partnership with 7 academic institutions
• Examples of research projects:
  • Facial recognition in retail
  • Unmanned store concepts
  • E-commerce for senior citizens
  • Location based iBeacon advertising
  • The cost of personal data
  • In-store mobile “micro moments”
  • Technology adoption in fashion stores

This was posted in Bdaily's Members' News section by Stibo Systems .