Product innovation has been complemented with service and recently business model innovation. Currently, a new priority in innovation management arises: Platform Innovation – the systematic creation of business ecosystems and platform markets.
While this approach has been the foundation of the success of eBay, Amazon, or iTunes, we predict that Platform Innovation will dominate the innovation regime in many other industries, too.
Consider the automobile industry: Mobility platforms like Moovel or Uber have become the new battle field for innovation. And with the connected car, the App model will enter the automobile. Autonomous drive is just the beginning.
Platforms bring different players together in order to, ideally, increase value for everybody involved. So far, these platforms have just scratched the surface of what will be possible. In the age of digitalization, smart data, and the Internet of Things (IoT) or Industrie 4.0, radically new ways to do old – and new – business will emerge.
Especially, the rise of multi-sided markets will change competition in the next few years. For machine tool manufacturers, competitive advantage will no longer (only) depend from building the most reliable tooling machine that will last several decades. The machine will become part of an industrial ecosystem of data and interfaces – hence it may be the quality of machine’s APIs that determines it success.
On the years AIP, we want to explore how to systematically build (innovate) business ecosystems, how to succeed in becoming a market partner on an existing ecosystem, and enter an open dialogue on the opportunities and challenges of Platform Innovation and Business Ecosystems.
We invite you to join the Aachener Innovation Platform (AIP) Meeting 2015.