Business Model Innovation Fuels Smart Water Adoption
Today, solution providers in the water space are increasingly realising that in order to stay economically competitive, they need to rethink the traditional ‘product’ oriented, transactional nature of business deals. Whether this involves making minor iterations to a product line, rethinking marketing channels, or offering different procurement-related contract incentives, business model innovation has an impact on all. This, on top of regulatory, environmental and social influences, has many implications for the future of the smart water sector.
I was honoured last month to have been invited to participate as one of the keynote speakers for SWAN Member De Nora’s Internet of Water (IoW) Challenge. I addressed how we can apply business models to help leverage digital technologies within the water treatment industry and beyond. In my opinion, creativity and an interdisciplinary mindset are needed to tackle these often conflicting elements. I passionately feel that rising entrepreneurs have a major role to play in addressing the risks, inefficiencies and opportunities in the smart water sector and that business model innovation is fundamental to the acceleration of affordable and sustainable smart water technologies.
In this 20 minute keynote, I present different business model visualisation methods, varying methods and approaches (from servicising to consumption-based), as well as proven, concrete examples. I hope you find this beneficial as you navigate this exciting smart water path.