As part of the 10x6 Business Innovation organised by the Paperjam Club on Wednesday 27 June 2018, one of the speakers, Paul Wells (GovSat), explains his vision of innovation through private-public partnership.
What are the levers that companies can – and must – operate to engage in innovation?
“There are 3 main levers in my view that can be explained in one sentence: focus on your customers and on the market demand with the ability to deliver a value for money solution. These are core requirements to enable innovation to work. In our case, we look at Government customers’ needs for Secure SatCom Services at an affordable level. Innovation can be on the business, on the technology or both.
The partnership between the Luxembourg Government and SES has been a key innovation in this Government SatCom domain.
Our market is international as not every nation can afford to have its own dedicated satellite. That’s when we come into play.
To what extent is innovation a key element in the valuation of your business?
“Innovation is key for us: from the 50/50 partnership between the industry and the Government through the development of a secure service delivery customer focused wrap around it.
Our spacecraft is truly one of its kind and technologically innovative. Not often can you get such a state-of-the-art defence driven satellite designed, built and delivered in a cost-effective way and so quickly.
How to ensure that failure is a bridge/springboard and not a brake in an innovation approach?
“You always have to be prepared for things to go wrong. You also need to rapidly have the ability to adapt your plan(s) based on the market feedback. In our case, we kept modifying our business model over the last years as we discussed with customers and identified their needs.
Another important lesson is to always keep your focus!”
You can register for the 10x6 Business Innovation on the Paperjam Club website.