The key to keep up the pace: startup mentality

The reason why we chose entrepreneurial mindset as our key theme for this year’s FallUp was that we really wanted to highlight the entrepreneurial thinking in every aspect of life. When adapting entrepreneurial mindset, you will not only be a better employee or entrepreneur, but you will get better in all other fields of your life. This same mentality goes into businesses as well, to keep up the pace of innovations and development you need to adapt entrepreneurial mindset.

Most of our partner companies are working on increasing the co-operation between startups, bringing new perspectives from the startup world and integrating the startup mentality into everyday business. One of these companies is Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. Being a global leader on your own field may not be enough anymore as every business field is going through rapid changes. Wärtsilä acknowledges this and they are actively working on going more towards agile and more innovative future by implementing startup mentality in to their core business.

To further boost their digital strategies, Wärtsilä has opened a Digital Acceleration Centre in Helsinki and next up they are opening one in Singapore. “Our Digital Acceleration Centres are catalysts that will unlock new business models and services that accelerate value for our customers,” said Marco Ryan, the Chief Digital Officer of Wärtsilä.

The lean startup model; experimenting and failing fast, is one of the methodologies Wärtsilä has adapted to gear up their innovation speed. The methodology is used in internal projects and hackathons that have been arranged around topics like data analytics and SAP Cloud. Hackathons aim to accelerate idea and solution generation to get results faster by identifying customers’ needs and gathering feedback.

To bring the startup culture and entrepreneurial mindset even further into the Wärtsilä work environment, the company uses Shark Tank like approach to internally pitch new digital ideas and get them further developed. Anyone from the company from intern to CEO can suggest new ideas. These are then screened and the most potential ones will be presented to possibly receive permission and funding for their project. This is exactly the culture shift we need to see in more and more businesses; giving more opportunities for every employee to develop their business model and all of its components.

In FallUp Wärtsilä experts will share their knowledge and ideas with us in form of workshop named “From idea validation to a great pitch”. In case you didn’t get a chance to register to the workshop, you can meet Wärtsilä team also at our Demo Booth area!