i3 - May/June 2019 - 40
Policy
Jeremy Snow
T EC H H U B
In-House Innovation: A Recipe for Success
S
ince 1937, Canon has been known for its bold, highquality cameras, but the company has developed a
plethora of other innovative devices such as calculators, copiers, projectors and printers. And today, even as the
camera market faces challenges from high-quality smartphone cameras, Canon is continuing to adapt with the help
of other tech companies.
With successful startups often leading
innovation, larger companies like Canon
U.S.A. are investing in young entrepreneurs who have fresh, profitable takes on
the industry. With partnerships that come
from startup acquisitions or alliances,
Silicon Valley leaders can turn their own
business into a tech hub.
"We see the partnerships with these
startups as a mutually beneficial collaboration where we can learn from the
pace in which startups conduct their
business models," Eliott Peck, executive
vice president and general manager at
Canon U.S.A., said. "In these evolving
industries, this is very important for us
to sustain our future growth."
In January, for example, Canon
formed a strategic alliance with Brizi, a
platform used in sports stadiums that
allows groups to take Jumbotron-like
pictures of themselves with the help of
remote cameras and a phone app.
Executives from Canon and Brizi: Eliott Peck,
Kevin Ogawa, Anna Hu, Joe Adachi and Sam Dalati
40
MAY/JUNE 2019
Brizi already used Canon hardware,
but the full strategic alliance brought
both companies a unique opportunity by
using new camera technology in the
ever-changing sports and entertainment
world, while also simultaneously
expanding into new markets.
"Brizi can move quickly, take risks and
innovate rapidly, while Canon has the
resources, the know-how and the network," Brizi CEO Anna Hu said.
"Together, we have made our technology
more robust, opened up doors to new clients and solved technical challenges like
those around our new video feature."
Canon U.S.A.'s partnerships allow
them to demonstrate how startups can
fill voids in the marketplace. Beyond
the U.S., other Canon Group companies
have acquired Lifecake, a photo journal
app for children, in 2015, and then the
on-demand custom printing company,
Kite, in 2017. Then in 2017, Canon
Group acquired Briefcam, a video surveillance software company.
The classic camera company is succeeding with its strategy. Large businesses often scoop up or join forces with
smaller ones, whether it's Apple buying
Shazam, Beijing ByteDance Technology
buying Musical.ly, or Hilton Hotels partnering with CTA member Benjilock.
Nurturing Innovation
Silicon Valley heavyweights value startups
so much that they have even welcomed
them into their own training centers.
Some of the biggest companies in the
world, including Salesforce, Facebook and
Google have developed their own inhouse incubators and accelerator programs where they foster companies in
return for investments or long-term ties.
For example, in 2017, Facebook
launched the "Startup Garage" in Paris,
giving select "data-driven" startups the
chance to work together in a special facility and receive mentoring from Facebook
higher-ups. In 2018, Facebook also created LDN_LAB, a similar program in
London, which took various communitybased and tech-for-good startups
through a three-month incubation.
Google has a similar program called
Area 120, giving employees who work at
Google the chance to develop their own
passion project, whether it relates directly
to Google or becomes its own platform,
according to Fast Company.
Companies that aren't traditional
tech companies are also striving to
become tech hubs. Goldman Sachs has
an accelerator for fintech, while the
Disney Accelerator has led to big developments for the company and entertaining in general, even supporting
CTA member Sphero in 2014, who
developed the technology behind Star
Wars robot BB-8.
Certainly, the pairing of large companies and startups can lead to innovative
thinking and new business models.
I T I S I N N O VAT I O N
http://www.Musical.ly
i3 - May/June 2019
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