Sramana Mitra: Let’s double-click down on how we have evolved the program a bit. When we started, the application process involved people presenting their ideas. At that point, we were asking for people to submit ideas. As we went through the evolution over the years, we have completely morphed the program.
In the application stage, we do not ask for ideas anymore. What we ask to see is why you want to learn what is being taught here. You do have some interest in entrepreneurship. Can you actually learn this online? We change the application process from submitting and evaluating ideas to submitting an equivalent of a
Oracle has been a partner of 1Mby1M since 2013 and has built its internal innovation program on the 1Mby1M Incubator-in-a-Box platform.
In this interview, Sramana Mitra and Paolo Juvara, Group Vice President of Oracle Application Lab, discuss the secrets of the success of the program. A unique window into corporate innovation thought leadership from some of the industry’s pioneering thinkers.
Oracle has been a partner of 1Mby1M since 2013 and has built its internal innovation program on the 1Mby1M Incubator-in-a-Box platform. In this interview, Sramana Mitra and Paolo Juvara, Group President of Oracle Application Lab, discuss the secrets of the success of the program. A unique window into corporate innovation thought leadership from some of the industry’s pioneering thinkers.
Sramana Mitra: Today, we want to share some of what we have learned, what we have done, and how we think about internal innovation at Oracle. The way we run this program today is twice a year, we have a Oracle One Million by One Million intrepreneurship challenge inside Oracle. >>>
Sramana Mitra: There is an IT gap that is complicated to bridge. I’m originally from India. I track the evolution of the Indian IT industry. A large part of that is in low-end business process outsourcing. I have seen so many applications where you put a piece of software in and 4,000 people are out of their jobs. This is already starting to flow through.
The projections for the number of jobs losses for this year is half a million. If you have a very low IQ person, you can’t expect that person now to be doing things of much higher order. That’s where the re-skilling or retooling is challenging. >>>
During this week’s roundtable, we had as our guest Paolo Juvara, Group Vice President, Oracle Applications Lab, Oracle.
Oracle has been a partner of 1Mby1M since 2013 and has built its internal innovation program on the 1Mby1M Incubator-in-a-Box platform. In this session, Paolo and I discussed the secrets of the success of the program. A unique window into corporate innovation thought leadership.
As for entrepreneur pitches, we started with Maheima Kapur, from Bangalore, India, pitching Talking Street, a curated food review-based content project that has already amassed significant social media following. The problem is that content doesn’t monetize, so I advised her to focus on the events business that does seem to monetize.
Sramana Mitra: In some of your ideas that you’ve presented in the book, you are talking about AI being an augmentation factor as opposed to displacement factor in various workflows. I think the classic one that fits that bill would be in healthcare with doctors working with patients and electronic medical records. It’s actually a big frustration area for me as a consumer to watch how badly medical systems use technology and data.
Would you comment on that? I’m sure you are working with health systems as clients. Where is the problem? Why is this not moving faster? I’m very pleased that cyber security and online advertising are moving, but why is healthcare not moving as fast? >>>
Sramana Mitra: From an innovation process point of view, how do you look at this? Is the actual technology mostly coming from the startups and you’re folding them into the particular vertical practice area or horizontal practice area?
Paul Daugherty: There are different tiers of innovation that we see. We work with the big platform companies like Google, Amazon, and Microsoft. They’re creating platforms at scale and innovating very rapidly. We’re seeing some startups use some of that technology to build businesses around it. We see tremendous innovation from entrepreneurs. They’re bringing in new approaches like pattern recognition for radiology diagnostics. >>>
Paul Daugherty: We also have another component of Accenture Ventures, which we call Open Innovation. It’s our program for working with all the entrepreneurs, accelerators, and incubators that we can find. We have a team that focuses specifically on open innovation.
We currently have over 3,000 startups that we’ve met with. We’ve curated and understand what we do. That number is ever growing and is growing very rapidly. We curate them into a framework so that we understand, for a given startup, what stage they are at, how ready they are to go to large corporate clients, and what industry and geography they specialize in. We have a system that we track all that in. >>>