New IVI Strategy Focusing on Digital Transformation

The team at the Innovation Value Institute (IVI) and I were delighted to host on the 19th of November 2021 the Annual IVI Summit 2021 on Digital Transformation – The Path to the Future! The summit brought together key industry leaders, policy experts and international academic researchers across various sectors, strengthening the connection between industry and digital transformation research. With keynote addresses and parallel panel discussions, the summit presented a major international event to discuss key questions challenging digital transformation researchers and industry leaders today.

This year’s Annual Summit marked the 15th anniversary of the institute and presented a significant milestone in its journey with the official launch of the new IVI strategy, focusing on Digital Transformation. Over the last 15 years IVI has been recognised as a leading, internationally connected research institute that builds on the extensive knowledge and research related to the Capability Maturity Framework. IVI continues to support businesses and organisations in their digital transformation by providing research, training and sharing latest advances in Digital Technologies and Digital Transformation.

As digital transformation continues across all sectors, many organisations are faced with strategic re-positioning of value chains and business ecosystems. Exploring digital driven business opportunities, value chains and innovative business models, IVI supports organisations with advice, knowledge and research to address those significant challenges along their Digital Transformation Paths.

A major challenge over the next decade is establishing a greener and digital society, a key priority of the European Commission[1] that estimates the creation of 700,000 new jobs by 2030 through establishing circular economies. The World Economic Forum[2]  estimates that digital transformation could be valued as high as $100 trillion over the next decade.

Understanding strategic questions and developing sustainable options in the form of Digital Transformation Paths are key and a core focus of our new IVI strategy. Economic, societal and business implications of digital transformation need to be discussed with all stakeholders. The wider impacts and constraints of digitalisation needs to be understood in order to co-create Digital Transformation Paths to drive a greener and digital society that benefits all. This requires a different approach that brings together multiple stakeholders across disciplines and sectors.

Since my appointment as director of IVI in June 2020 and with the new IVI strategy, we have refocused IVI’s aim to provide strategic guidance to transform and architect Digital Enterprises and Ecosystems by developing Capability driven Digital Transformation Paths.

IVI with its 15-years expertise of facilitating an open innovation and multi-stakeholder community is well positioned to address those significant digital transformation challenges. Developing and co-creating innovative solutions for organisations, are a core strength of IVI. We continue our mission to facilitate an open innovation community by bringing key stakeholders together to investigate, co-create and maintain strategic guidance and knowledge. We have established a range of research clusters’ and expanding our strategic partnerships with companies, public sector bodies, associations and the broader community to form those collaborative research clusters. Within those clusters, IVI members have access and can participate in a number of active working groups, for example on Digital Retail, Data Governance, Digital Construction, Agri and Food-Tech, Digital Health, Smart Manufacturing, and Smart Regions. Patron members are strategic IVI partners with a seat on the steering board prioritising industry-relevant research challenges and guiding IVI’s research agenda.

IVI’s Re-Think-Re-Design programme, developed with Kildare Chamber of Commerce, is one of the new services specifically designed to support smaller and medium sized companies on their digital transformation journey. The programme can be fully funded (for eligible companies) through the Enterprise Ireland Innovation Voucher scheme. For other initiatives and targeted research, we provide access to a range of funding opportunities including Enterprise Ireland, IDA, European Union and through research centres, such as Lero, Adapt and Confirm funded by Science Foundation Ireland.

The repository of Digital Transformation Paths is continuously developed within the IVI working groups. The Digital Transformation Paths will be made available to the IVI members adding to the existing IVI portal. It includes Digital Readiness Assessments and a Benchmarking tool in addition to extensive information around the Capability Maturity Model. In addition, latest webinars and recordings from the IVI summit 2021 will be made available on the IVI website in the coming weeks.

I would like to thank all who have contributed and joined for this year’s Annual IVI Summit, which unfortunately had to be held online due to the ongoing pandemic. Especially I would like to express my thanks to Prof. Eeva Leinonen, President, Maynooth University for the welcome address and Leo Clancy, CEO, Enterprise Ireland for his keynote presentation. Furthermore, I particularly thank all IVI members and partners for their ongoing support and commitment to IVI.

The team at IVI and I are excited to advance the research into digital transformation in collaboration with the growing community of IVI partners, extending the Repository of (proven) Digital Transformation Paths for various sectors. We are looking forward to continuing collaborating and to our next Annual IVI Summit in 2022.

Best regards,

Prof. Markus Helfert

Director Innovation Value Institute