#TheNTWKSummit23 | From Physical to Digital Experiences

DIGITAL

WHO WE ARE

TheNTWK (The Network) is the leading community for digital business innovators, coming together to shape the future of the global digital economy.

We connect corporates, entrepreneurs, advisors, venture capitalists, and academics to create a hub of knowledge around digital business models, such as platforms, ecosystems, and marketplaces, at the intersection of emerging technology trends.

Our community exists to facilitate learning and business growth through collaboration, co-creation, and interaction in a friendly and supportive professional environment. We do this through Knowledge, Interaction, and Fun!

Our goal is to harness the strength of our community to co-create the resources that make TheNTWK the one-stop shop for all things related to networked-based business models thinking and strategy. We offer our members a variety of learning, teaching, advisory, and thought leadership opportunities, including Masterclasses, Workshops, Consulting, Co-created Reports,

Ambassadorship, Speaking, and Meetups.

We hold weekly discussions with guest speakers on #TheNTWKTalks and host special debriefings and community collaboration on #TheNTWKInteracts. Our community platform allows members to share and enjoy the best-curated content, resources, and events. Join us and become part of the leading community for digital business innovators!

Let’s Do Something Big, Made in Europe.

CELEBRATING THE SUCCESS OF #TheNTWKSummit23

#TheNTWKSummit is Europe’s Top Summit for Digital Business Models, an annual event that brings together experts from the digital business landscape in the sunny city of Barcelona to collaborate, exchange knowledge, share ideas, and discover new business opportunities!

On behalf of Marina Planas, Co-Chair and CEO of TheNTWK, and the entire team, we extend our heartfelt gratitude to all the NTWKers, speakers, and guests who made this event truly extraordinary. Your expertise and contributions have left a lasting impact on our community and have inspired us all to strive for greater heights in digital business. Let’s take a moment to reflect on the achievements of the Summit and its impact.

A MOMENT OF GRATITUDE

First and foremost, we would like to express our deepest gratitude to our sponsors, led by Cambra de Comerç de Barcelona and McFadyen Digital, whose unwavering support made this event possible.

We would also like to thank our dedicated dream team, Bety Soca, Katrin Maikova, Anna Noakes Schulze, Milja van’t Noordende, Catherine Schoendorff, Marta Agrech, as well as our vibrant community for their hard work, enthusiasm, and invaluable contributions throughout the planning and execution of the Summit.

Reflecting on the Summit’s Purpose

#TheNTWKSummit23 aimed to explore the transformation from physical to digital experiences, addressing the challenges and opportunities associated with this shift. Throughout the Summit, we engaged in thoughtprovoking discussions, knowledge sharing, and interactive sessions that fostered innovation and growth within our community while advancing knowledge of cutting-edge digital business practices.

Highlights and Achievements

This year’s Summit was a resounding success, exceeding our expectations in every way. We witnessed remarkable moments of collaboration, meaningful connections, and the exchange of groundbreaking ideas. Attendees actively participated, posed insightful questions, and embraced the opportunity to learn and grow. The diverse perspectives shared during the Summit have further fueled our mission to advance digital business models and innovation in Europe and beyond.

The Power of Community

At its core, #TheNTWKSummit23 was a testament to the power of our community. Together, we fostered an environment of inclusivity, support, and inspiration. We celebrated our shared achievements and collectively aimed to shape the future of digital experiences. The

WHAT NTWKers SAY

connections made during the summit will continue to strengthen and evolve, driving us forward on our respective journeys.

Looking Ahead

As we reflect on these many successes, we are inspired to continue our mission of advancing digital business practices, both locally and globally. We remain committed to providing our membership with a one-stop shop for digital business innovators working at the intersection of emerging technologies, with opportunities to learn about the latest digital business trends, upskill and reskill, connect and interact, and grow the practical knowledge that drives digital business to new heights.

Conclusion

In conclusion, we are delighted to share this report which commemorates and celebrates the resounding success of #TheNTWKSummit23: From Physical to Digital Experiences. We invite you to join us and continue in the spirit of collaboration, innovation, and community as we embark on the next chapter of our digital business journey. Together, we will shape the future and continue to drive positive change in the digital landscape in Europe and beyond.

Marina Planas, Anna Noakes Schulze & Peter C.Evans Co-Chairs TheNTWKSummit

During our first two editions, we asked attendees about their experiences. Their words are: inspirational, insightful, family, future, experience, energizing, invigorating, groundbreaking...

“TheNTWKSummit was an amazing event that packed a wide array of diverse digital topics, highly innovative concepts, and an international audience into two days. I left the event energized and inspired by all the positive impact that innovation and technology can still bring to the world. “

“Traditions are part of culture and they can be positive but new traditions are shaped by new disrupting ideas that create improvements. At TheNTWK the discussions we are having are extremely relevant for the EU to be competitive and at the forefront of innovation.”

“It’s the first time that we attend an event like this and it has been very positive. We are now willing to connect with TheNTWK Community and continue the conversation. “

“This edition of TheNTWKSummit provided interesting discussions on best practices and lessons learnt for incumbents to embrace B2C and B2B ecosystem business models.”

Miriam Cordero Salesforce

Alba Fernández Cupra by SEAT Prasad MK AWS

Natalia Olson Plug and Play

PLATFORMS & MARKETPLACES

See Our Platforms & Marketplaces Activities!

The platform (and marketplace) revolution has brought about a transformative shift in the business landscape, offering companies unprecedented opportunities in the digital economy. While Europe may lag behind the US and China in terms of large-scale platforms, the region boasts a diverse range of innovative platforms that cater to different needs and markets. By combining Europe’s commitment to the circular economy with the power of platforms, the region can gain a competitive advantage, drive innovation, and create value for businesses and consumers.

Top 10 Key Takeaways

1Strategy for Success

Every company should have a strategy for the platform economy that considers different positions from creating a platform, building on top of existing platforms to working with platforms..

2Platforms and Circular Economy Companies can leverage the concept of a circular economy to create platforms that drive innovation, reduce waste, stimulate product redesign and provide value to businesses and consumers.

3Advantages of Circular Marketplaces

Lower transaction costs, More buyers and sellers, Positive network effects, Expanded reach, Incentives for product redesign, Easier to grow community, Incentives for ecosystem innovation.

4Fundamental Questions to Answer

A successful platform business is characterized by its ability to answer four fundamental questions: where to play, how to scale, how to win, and how to capture value.

5Platforms for Good Platforms have created concerns on inequality, power imbalance and privacy. To address these, platforms should actively participate in developing fair and effective regulations and embed ethical principles in their incentives and protocols.

6Why corporate should consider platforms?

Platforms encourages business to act as enables, connecting various stake holders to create new value propositions and revenue streams, Platforms can alleviate inefficiencies and enable corporations to stay top-ofmind for customers and continue delivering value.

7Network effects vs Virality

A network effect occurs when adding a user to a network makes the network more valuable for all users bringing scalability and defensibility. On the other hand virality refers to the phenomenon where growth leads to more growth, as users spread the word.

8Rise of B2B Marketplaces

B2B platforms growth135% growth last year and providing opportunities for niche specialization. Niche marketplaces cater to specific markets or industries, offering targeted and tailored shopping and a more level playing field for smaller brands and entrepreneurs.

9Vertical Integration, Insights and Trust

Modern marketplaces focus on vertical integration by offering additional services that strengthen the value proposition, and valuable tools like dashboards and reporting that provide meaningful insights. Ethical business practices, sustainability and trust are also increasing in importance.

10Chicken or egg, how to launch a marketplace?

B2B Marketplaces typically focus on attracting buyers first, as they are the one driving the demand for the products and services offered. B2C Marketplaces often attract sellers first, as they are the ones providing the products and services that will attract buyers.

Oliver Birk Director Platform Business BASF

Coatings

“Not everybody needs to own a platform - but you need to have a strategy to deal with them.”

The Power of Platforms

Celebrating Europe’s Diverse Platforms

Europe may lack scale, but it does have a wealth of diverse platforms. From food waste reduction platforms like Too Good To Go to mobility platforms like Berlin’s Jelbi, Europe is home to a variety of innovative platforms catering to different needs and markets (Fig. 1). The region also boasts several world-class platform software providers, such as Mirakl, Commercetools, and Sharetribe, which enable the creation and growth of platforms worldwide.

Strategizing for Success: A Marketplace Grand Strategy

Large incumbent companies in Europe have a significant role to play in the growth of European platforms. Many of these companies are already participating in existing platforms, launching their own platforms, or making strategic investments in platform companies. However, to create a cohesive and integrated approach to platform growth, these companies must develop a marketplace grand strategy.

Today, platforms have become an essential component in the global digital economy. However, Europe faces a challenge: it lags behind the US and China in terms of creating large-scale platforms. Last year, Peter C. Evans mentioned that European platforms would need to grow 16 times their current size to catch up. Strategies were discussed to address this challenge, including fostering the growth of platform startups, expanding existing incumbent platforms, embracing new opportunities like Web3, and developing dedicated super apps tailored to the unique characteristics of the European market. Additionally, investing in platform talent and leadership is crucial to this endeavor.

This year is time to celebrate, strategize and build.

PETER C. EVANS

Co-chair

MIT Platform Strategy Summit

TheNTWK Summit

A marketplace grand strategy involves allocating resources efficiently within a firm to launch multiple platforms that create synergies and competitive advantages. For example, Bosch has developed a marketplace grand strategy that includes participation in major platforms like Amazon, Alibaba, and eBay, launching over nine platforms and ecosystems, and investing in more than a dozen platform companies through its corporate venture arm.

The Fig. 2 showcases Bosch’s investments in platforms and marketplaces from 2016 onwards, reflecting their diverse range of investments. Notably, Bosch has made investments in ride-sharing companies across Europe, the United States, China, and even India (as seen with Ola). Initially focusing heavily on the ride-sharing sector between 2016 and 2019, Bosch has since expanded its presence into other domains, such as making an investment in Xometry, a 3D printing platform. Overall, this serves as a compelling illustration of a highly engaged corporate entity navigating its path in the platform investment landscape.

Building Platforms: Marrying Circular Economy and Platform Business Models

One area where Europe can gain a competitive advantage is by combining its passion for creating a circular economy with the power

of platforms. By creating platforms that facilitate a circular economy, European companies can drive

need for solutions to deal with endof-life EV batteries. Used EV batteries can be repurposed for use in power generation and other applications, or they can be broken down to extract valuable materials for recycling. A dedicated platform for the exchange of these batteries can drive innovation and create value for both businesses and the environment.

Example 3: A Platform for Lubricant Recycling

innovation, reduce waste, and create value for businesses and consumers.

Example 1: A Circular Marketplace for Used Plastics

One example of marrying the circular economy and platform business models is the creation of a circular marketplace for used plastics. Automotive companies like BMW have already committed to using more recycled plastics in their vehicle production, and a platform that connects these companies with suppliers of used plastics can help further drive this commitment.

Example 2: A Marketplace for Endof-Life Electric Vehicle Batteries

With the growth of electric vehicles (EVs) in Europe, there is an increasing

There is currently no vibrant marketplace for the recycling and reuse of lubricants in Europe. A platform for lubricant recycling can help create a more efficient market for used lubricants, fostering innovation and reducing waste. This can benefit both the environment and the economy, creating value for businesses and consumers alike.

The Platform Re-Evolution

The Power of Platform Businesses

A successful platform business is characterized by its ability to answer four fundamental questions: where to play, how to scale, how to win, and how to capture value.

By enabling a specific core interaction, platform businesses focus on the success of the market as a whole, transcending the limitations of individual users. Understanding the dynamics of these interactions is essential for creating value and scaling the platform. Platforms create value by capturing data from multiple stakeholders that are creating and exchanging value, and transforming it into personalized feeds, analytics capabilities, and advertising products. This strategic positioning enables platforms to sit at the center of the ecosystem.

However, Sangeet stresses that not every company should be building platforms, but every company should have a strategy for the platform economy, whether that involves working with platforms to reach customers or building on top of existing platforms. It’s essential to have a portfolio strategy that includes different positions in the platform economy, rather than focusing solely on a platform position.

The concept of platforms, which enable social and economic interactions at scale, has captivated the attention of entrepreneurs, investors, and industry experts alike. However, successful platform businesses possess distinct characteristics that set them apart from their counterparts. At this year’s Summit, we had a chance to catch up with Sangeet Paul Choudary, a “global thought leader on the platform business model”. During our fireside chat, we spent time understanding the impact of platform business models in the current business landscape and what businesses can do to capitalize this trend and build a successful platform business.

The Pillars for a Successful Platform Business

There are four main pillars of creating a successful platform business, and these are the following:

• Interaction as the base layer: Platform businesses need to clearly define and understand what is the core interaction that they are enabling as the base layer of value creation, setting them apart from traditional product-based companies. By identifying this fundamental interaction, platform businesses can leverage their unique position to foster an ecosystem that connects users, producers, and consumers.

• Leverage network effects: Network effects are not just about you getting more producers, you get more consumers, everybody’s happy, and you get network effects. Network effects are fundamentally about creating those feedback loops. Getting more users on both sides is necessary, but it is never sufficient. You need users, but platform businesses need the ability to create and facilitate the interactions that result into those feedback loops - and that is critical to setting a successful platform business.

Founder of Platformation Labs Best-selling co-author of “Platform Revolution” Author of “Platform Scale”

SANGEET PAUL CHOUDARY

Capturing data: When data is captured, the ecosystem’s input is being used to scale the platform’s output, which helps scale digital businesses in general, but platform businesses even more so, as the data captured from one side can benefit multiple stakeholders. For example, a platform can package the same data as a personalization on the news feed, as an analytics capability to another stakeholder, and as a targeting and advertising product to a third stakeholder; so it creates value on every side.

• Capturing value: Monetization can go against the previous points. For example, if a platform is leveraging data to create value by charging people to access the platform, its ability to access data may go down. The platform’s ability to build network effects may go down. Therefore, value capture is not just a question of what you monetize, but instead, one should ask: “What is currently charged in your value chain that you can now subsidize and hence change the economics of the industry? Answering that question could present a very interesting platform opportunity.”

It’s all about answering the question: “What gives you the right to sit in the middle of the ecosystem and create sufficient value so that everybody goes through you and not around you?”

Sangeet presents the example of Ant Financial, as they were able to:

• Determine credit worthiness of cash-only individuals or transactions

• Provide this valuable information to banks across Asia

• Help cash-based borrowers without traditional credit history

provide decision support to healthcare professionals, thus reducing the cost of making decisions in this critical sector.

• Value Exchange: AI can streamline the process of exchanging value between users by automating various tasks, such as matching buyers with sellers in a marketplace, providing personalized marketing campaigns, and offering dynamic pricing based on real-time data.

• Trust: AI can enhance trust within a platform by identifying and mitigating potential risks, such as identifying fraudulent transactions or ensuring compliance with regulations. This helps maintain a secure environment for users, reducing the cost of policing the platform.

AI’s Role in Reducing the Cost of Interaction

AI has the potential to significantly reduce the cost of interaction across various aspects of a platform.

• Content Creation: AI-powered tools are making it easier and more cost-effective to produce content. For instance, AI algorithms on platforms like TikTok enable users to create engaging content with minimal effort, thus reducing the cost of content creation.

• Decision-Making: AI can help users make better decisions by providing them with relevant and personalized recommendations. In the context of healthcare, for instance, Google’s AI initiatives aim to

Platform vs. Ecosystem: The Balance of Power

Platforms often extract a disproportionate amount of value from their ecosystems, leading to a concentration of wealth and resources in the hands of a few market leaders. This, in turn, puts pressure on the rest of the ecosystem, including suppliers, partners, and even consumers.

One potential way to address this imbalance is to encourage platform companies to actively participate in the development of fair and effective regulations. This would require a shift in mindset from simply lobbying against regulation to actively working with regulators and other stakeholders to create a more equitable and sustainable platform ecosystem.

This multi stakeholder approach touches on the point of ethical responsibility of platform designers to ensure that their creations promote fairness, sustainability, and positive social impact. Platform designers should focus on embedding ethical principles within their platforms’ incentives and protocols, particularly in areas where competitive advantage and value capture are most critical. For instance, blockchain technology and decentralized protocols could enable the creation of platforms that are owned by their users, rather than being controlled by a central authority. This could potentially address issues of inequality, power imbalance, and privacy concerns in the platform economy.

Platform Thinking Game

In today’s rapidly evolving business landscape, it’s essential for businesses to adapt and innovate to stay competitive.

One such innovation is platform thinking — a fresh perspective on how businesses can grow and thrive. This comprehensive guide will explore the concept of platform thinking, its key principles, examples of successful platform businesses, and how you can apply it to your own organization.

“Platform Thinking – Read the past. Write the future”

book

“Platform Thinking – Read the past. Write the future”

Full Professor at Politecnico di Milano Co-author of the

Senior Assistant Professor at Politecnico di Milano Co-author of the book

TOMMASO BUGANZA

DANIEL TRABUCCHI

Platform thinking is a strategic approach that focuses on creating value by facilitating exchanges and interactions between various types of customers. This approach differs from traditional linear business models, which typically focus on producing goods and services and selling them to customers. Instead of simply being a producer or a consumer, platform thinking encourages businesses to act as enablers, connecting various stakeholders to create new value propositions and revenue streams.

What is a platform? The Platform Thinking Game!

The word platform is so widely used that it makes it almos useless! We call platform Apple, Netflix, Airbnb or Google…but they are not built on the same principles!

There are 3 main typologies of platforms in the field of multi-sided platforms:

Transactional Platforms: like AirBnb, Uber, or the Amazon Marketplace; they enable a direct (one to one) transaction between the two sides, the two groups of customers (such as travelers and hosts for Airbnb or buyers and sellers on Amazon Marketplace). The more users on the one side, the more value for the customers on the other side, this is the power of crossside network externalities.

Orthogonal Platforms – Client-as-aTarget: like newspapers or Google the search engine, they sell one to many eyeballs, not transactions. Still, two customers (such as readers and

advertisers), that are not transacting one-to-one through the platform, but the orthogonal customer (advertisers) what to reach the first side as a target. The more readers, the more value for the advertisers, but the reverse is not true. Therefore, cross-side network externalities are unidirectional.

Orthogonal Platforms – Client-as-aSource: like Netflix, or Strava; in this case the platform gathers data from the end-users that are aggregated, anonymized, and offered to external customers (like municipalities in the case of Strava) or internal department (like movie production in the case of Netlfix). Still two customers, and still unidirectional cross-side network externalities, but in this case the end users are a source of data, not a target.

Platform Thinking as a tool to foster innovation!

Platform thinking is essential in today’s interconnected world because it allows businesses to evolve toward something more valuable, and more interesting. Relying on transactional and orthogonal logic anyone can foster innovation, being already a platform or even an established (linear value chain-based) organization.

Amazon moved from having its e-commerce portal, based on a linear value chain, to the creation of a marketplace (transactional platform) then used as the basis to evolve towards various platform strategies (Amazon B2B; Prime Video; Kindle Direct Publishing, …)

John Deere moved from being a “traditional” machinery producer to managing a real service hub based on data, relying on strong orthogonal logic, by adding sensors in the machines that can influence precision agriculture and transactions with various stakeholders.

CVS moved from being one of the biggest retailers in the States to managing (also) a digital platform, CVS Health Virtual Primary Care, getting on board new (transactional) customers as physicians and therapists to open to digital care.

It may mean exploiting the current sides and adding new platforms logics (as Spotify that adds Spotify for Artists relying on the data coming from listeners, as an orthogonal exploitation) or may mean an extension, bring on board new sets of customers (as the restaurants in Uber, creating Uber Eats, generating a transactional extension).

How To Approach Platform Strategy As An Incumbent

Why Corporates Should Consider Platforms

There are several reasons why corporates should consider exploring platforms, but let’s focus on three key drivers.

• Firstly, platforms can help alleviate inefficiencies within a corporation’s internal operations as they have the potential to streamline procurement processes and generate new revenue streams. For instance, Pau Monserrat mentioned that NH Hotel Group was able to transform an inefficient procurement department into a profitable business by adopting a platform approach.

With dynamic technological advancements and the rapid growth of startups disrupting various industries, corporations are under increasing pressure to adapt and innovate. Consequently, they find themselves pondering crucial questions: Should they develop their own platform? Would it be wiser to leverage existing platforms for sales? Alternatively, forming strategic alliances with other

• Secondly, platforms and marketplaces enable corporations to stay relevant and competitive in a rapidly changing business environment. According to Statista, in 2020, the average lifespan of a company on the Standard and Poor’s 500 Index was just over 21 years, compared to 32 years in 1965. By embracing platforms and marketplaces, corporations can adapt to evolving customer demands, form new partnerships, and ultimately drive growth. Platforms also assist corporations in maintaining and strengthening customer relationships.

Five Main Digital Business Model Archetypes

Corp. Business Develop Coperama

As customers increasingly expect seamless, end-to-end experiences that transcend traditional industry boundaries, corporations must find ways to meet these expectations while also differentiating themselves from competitors. Building or participating in platforms enables corporations to stay top-of-mind for customers and continue delivering value.

Exploring the Options: Build, Partner, Spinoff, or Consortium?

When it comes to exploring platform and marketplace options, corporates have several avenues to consider. These can be broadly categorized into four main approaches: building their own platforms, partnering with existing ones, spinning off a separate entity, or forming a consortium with other industry players.

1. Building Their Own Platform. This approach involves the corporate developing its platforms, either in-house or through external partners. While this can offer the benefits of increased control and customization, it may also involve significant time and resource investment. Additionally, there may be challenges associated with integrating the new platform into the corporate’s existing systems and processes.

2. Partnering with Existing Platforms. Partnering can offer corporates a more streamlined route to market, allowing them to leverage the expertise, technology, and user base of the partner platform. This approach can also help corporates expand their reach and tap into new customer segments. However, partnering with an existing platform may involve relinquishing some control over the corporate’s offerings and customer relationships.

3. Spinning Off a Separate Entity. Some corporations may choose to spin off a separate entity dedicated to platform and marketplace initiatives. This approach can provide increased agility, as the spin-off operates independently from the parent company, making it easier to adapt to evolving market conditions. This is particularly popular in the health tech and education tech sectors within the media space. It is an option where corporations tend to allocate funds and initiate new venture businesses.

4. Forming a Consortium. With other industry players to develop and launch a shared platform. It’s observed a growing demand, particularly within the automotive segment or any industry dealing with significant data flow. Corporates are striving to create monetization

strategies based on end-to-end data, leading them to explore the establishment of consortiums or orchestration of consortiums. These initiatives aim to address broader issues such as interoperability and the monetization of data across the board.

Learning from Failures When Building a Platform Business

While there are numerous success stories in the world of platform businesses, there are also several cases of failures and lessons to be learned. Three key lessons learned were mentioned regarding corporate platforms:

• First is the importance of creating a flywheel effect by understanding the needs of all personas involved in the ecosystem and ensuring a win-win situation for everyone.

• Second is the need for a cultural shift within the company to embrace startup mentality and agility.

• Third is not overestimating market leadership and taking a grounded approach to value proposition.

Embracing the Platform Revolution

In conclusion, platforms and marketplaces offer significant opportunities for corporates looking to drive growth, enhance efficiency, and stay relevant in a rapidly changing business landscape. By carefully considering their options and adopting a strategic, agile approach, corporates can successfully navigate the platform and marketplace revolution, ensuring they remain at the forefront of their industries and continue to deliver value to their customers.

The Power of Network Effects

Defining Network Effects

At its core, a network effect occurs when adding a user to a network makes the network more valuable for all users. This simple definition can be applied to a wide range of products and services, but when put into practice, numerous complications and nuances come into play. The key benefits of network effects are twofold: scalability and defensibility. As a network grows, the value for existing users increases, and new users become easier to acquire. This, in turn, can reduce customer acquisition costs (CAC) and increase the lifetime value (LTV) of customers. Additionally, network effects serve as a powerful economic moat for first-movers, making it difficult for competitors to catch up.

A study by NFX, a VC firm from Silicon Valley, revealed that of all companies that reached a billion dollars in value since 1994, 35% had network effects. However, these companies accounted for a staggering 68% of the total value created. This underscores the immense power of network effects in driving success and value creation in the tech industry.

Network effects are built on a multiplayer interaction between users

The heart of a network effect lies in the interactions between users. These interactions can take various forms, including connections between users of the same type (e.g., LinkedIn connections), connections between different

Network effects have been the driving force behind some of the most successful companies in recent years, including giants such as Airbnb, LinkedIn, and Figma. But what exactly are network effects, and how can startups harness their power to build scalable, defensible businesses? Sameer Singh explores the key principles of network effects, including multiplayer interactions, the differences between virality and network effects, and the crucial aspects of scalability and defensibility.

SAMEER SINGH

types of users (e.g., buyers and sellers on a marketplace like FAIRE), or connections between developers and users on a platform (e.g., Salesforce’s AppExchange). These multiplayer interactions are the foundation upon which network effects are built.

Virality is different: It requires users to share the product while using it

While often used interchangeably, virality and network effects have distinct differences. Virality refers to the phenomenon where growth leads to more growth, as users spread the word about a product or service in process of using it. Network effects, on the other hand, occur when the value of a product or service increases as more users join the network.

Creator of “Applied Network Effects” course Venture Partner at Speetinvest Part of the Atomico Angel Program

Figma demonstrates a combination of network effects and virality, where sharing a design allows others to view it without needing an account, potentially leading them to sign up and create their own designs (virality), while signing up also enables collaboration and editing, increasing the value for both parties involved (network effect).

Unlike Figma, Zoom exhibits virality without a network effect. Sending a Zoom link allows users to join a call without requiring an account or extension, potentially raising awareness and prompting the recipient to consider using Zoom for future calls. However, the decision for one person to create a Zoom account does not influence or impact the other person’s decision, indicating the absence of a network effect.

Scalable network effects connect users across borders

Scalability is a key aspect of network effects, as it ensures that the value of a network continues to grow as more users join. A scalable network effect connects users across borders, making the network valuable for users, regardless of their location. Conversely, less scalable network effects are limited to specific locations. The level of scalability ultimately determines the potential for growth and value creation within a network.

Airbnb represents a highly scalable network as hosts in one location can attract tourists from around the world, and those guests can subsequently be leveraged to attract new hosts in other destinations. In contrast, Uber’s network is less scalable as it relies on acquiring drivers and riders within specific city areas, making expansion to different parts of the city challenging and necessitating starting anew each time, resulting in a less scalable marketplace.

Defensible network effects require network nodes to be unique

Defensibility refers to the ability of a network to resist competition and maintain its value. A defensible network effect hinges on the uniqueness of the nodes (or users) within the network.

Slack and Airbnb exemplify this, as on Slack, individuals aim to connect with specific users inside Slack, while on Airbnb, the uniqueness of each property based on criteria like location, amenities, price, and availability requires a substantial number of nodes to ensure usefulness. In contrast, networks with less unique nodes can be less defensible, such as Tinder, where broad attractiveness criteria make it easy for competitors to emerge, resulting in numerous dating apps in same locations, and Uber, where the focus is primarily on fast and affordable rides, allowing competitors to succeed by acquiring enough drivers to meet demand.

Network effects can be categorized into four variants

When examining network effects in the real world, four primary categories emerge:

• Data Networks: this is where a product collects data from users to improve the value of the product for the same group of users. (e.g., Waze, TrueCaller, TripAdvisor)

• Interaction Networks: connect users and allow ongoing information exchange between them (e.g., social networks, dating apps, payment networks)

• Marketplaces: connect users to allow them to buy and sell products or services from each other. (e.g., Airbnb, Amazon, Uber)

• Platforms: where you allow developers to build applications on top of a product and connect those applications to the users of that product. (e.g., iOS, Android, Shopify, Salesforce)

Interaction networks and marketplaces can have a singleplayer SaaS component, a component of the product that can be used by itself without any other users being there. That can enhance the strength of the network effect there, meaning scalability and defensibility even further.

Marketplace Trends

With the rapid growth and development of eCommerce in recent years, the landscape is continuously evolving to keep up with changing consumer preferences and emerging technologies. Discover some of the latest trends and insights, providing a comprehensive overview of what you need to know to stay ahead of the curve.

B2B Marketplaces & Rise of Niche Marketplaces

A study by McKinsey & Co predicts that the B2B market will be valued at $18 trillion by 2025, with a compound annual growth rate of 19% in both the US and Europe. As a result, B2B platforms are experiencing exponential growth and increased opportunities for niche specialization.

These specialized platforms cater

to specific markets or industries, offering a more targeted and tailored shopping experience for consumers, compared to those available on larger platforms like Amazon or Walmart.

With retail giants often dominating general product categories, niche marketplaces offer a more level playing field for smaller brands and entrepreneurs to thrive. By focusing on specific interests, needs, and tastes, these platforms carve out a space for themselves in the crowded marketplace landscape.

Vertical Integration and an Emphasis on Services

Traditional marketplaces mainly offered a digital catalog for transactions, not providing much value beyond that to customers. However, modern marketplaces are transforming their platforms by focusing on vertical integration and offering additional services alongside product listings.

For instance, retail media networks or advertising options for sellers are being added to marketplaces, enabling them to reach larger audiences and further monetize their offerings. Amazon is a prime example of this trend, having grown its advertising business to the tune of $40 billion by leveraging its vast customer base and data insights.

Moreover, emerging marketplaces are offering various value-added services such as financing options, fintech solutions, AI-powered personalization, and more streamlined user experiences, making the value proposition for both customers and sellers even stronger.

Source: 2023 B2B Ecommerce Market Trends (Pt. 2) | Digital Commerce 360

The Etailers

SANTIAGO SANCHEZ

JUOZAS KAZIUKENAS Founder Marketplace Pulse

LILIANA ARROYO General Director for Digital Society Generalitat de Catalunya

TOM MCFADYEN CEO & Author McFadyen Digital

FRANCESC ALSINA Founder & CEO GROAU I Honest Marketplace

The Power of Data and Analytics

As modern marketplaces become more open and transparent, they’re leveraging the power of data and analytics to attract and retain sellers. By providing sellers with data about best-selling products, trends, and consumer patterns, these platforms make it easier for businesses to understand their target audiences and identify areas of growth.

Additionally, emerging marketplaces are offering valuable tools like dashboards and reporting, giving sellers in-depth insights that can help them make better-informed decisions and optimize their business operations. In a digital landscape with abundant data, the ability to turn this information into meaningful insights is becoming a key differentiator for successful marketplaces.

enhanced customer experiences and improved operational efficiencies on the sellers’ end.

The Focus on Trust and Sustainability

Consumer trust and environmental sustainability are becoming increasingly important considerations for modern marketplaces. Privacy concerns and ethical issues are prompting businesses to develop more transparent, sustainable, and accountable practices.

Loop, global shopping platform that offers products in reusable packaging

These circular marketplaces not only benefit the environment but also provide economic opportunities for sellers and affordable options for ecoconscious consumers. But there are also several challenges they may face:

• Consumer behavior: Consumers often prioritize price and convenience over sustainability. Changing this mindset is crucial for the success of sustainable marketplaces.

Artificial Intelligence: Personalization and Efficiency

AI has become a game-changer in the e-commerce industry, and its impact will only continue to grow. Businesses can deliver personalized experiences to their customers, streamline operations, and improve overall efficiency. 73% of online shoppers want personalized experiences, and 44% of consumers are more likely to become repeat buyers if their experience is personalized. AI-driven personalization can take many forms, from product recommendations and targeted marketing campaigns to voice assistants that enhance user experience.

As AI continues to advance, expect to see even greater adoption in the world of marketplaces, both for

Written by Bety Soca ©TheNTWK

As a result, a growing segment of marketplaces is prioritizing initiatives such as fair labor practices, environmentally friendly packaging, and supply chain transparency These factors contribute to a more comprehensive picture of the product’s journey, fostering trust and loyalty among consumers who value sustainable and ethical business practices.

• Competition: Sustainable marketplaces may struggle to compete with larger, more established platforms that offer lower prices and faster delivery. To succeed, they must find ways to differentiate themselves and appeal to eco-conscious consumers.

• Regulation: Governments must play a role in promoting sustainability, but regulations can sometimes hinder the growth of sustainable marketplaces. Balancing the need for regulation with support for eco-friendly businesses is essential.

As examples of successful circular marketplace we have ThredUP, a fashion resale marketplace that sells second-hand clothing; Wallapop, A mobile app that allows users to buy and sell second-hand items locally; or

Chicken or Egg: How To Launch a Marketplace?

When it comes to marketplace business models, there is always the age-old question of which comes first: the chicken or the egg? In this case, the “chicken” refers to the supply side of the marketplace (the sellers), while the “egg” pertains to the demand side (the buyers). In this panel discussion, experts with different backgrounds (from marketplace operators to technology and financial providers) explored the topic and shared their experience of building and enabling marketplaces to solve their chicken or egg problem, different monetization strategies, payment, technology and the importance of data.

The key to success lies in understanding the unique needs of your target audience, industry, and business model, and experimenting with various strategies to find the perfect balance between attracting buyers and sellers, generating valuable data, and monetizing your marketplace. Whether you’re building a B2B or B2C marketplace, focusing on a specific niche, or looking to pivot to a new industry, the key to success is adaptability, creativity, and a willingness to learn from both successes and failures. By staying agile and open to change, businesses can navigate the chicken and egg problem, build a thriving marketplace, and enjoy long-term success in the world of online commerce.

McFadyen Digital

TOM MCFADYEN

BARBARA BUADES CEO & Co-founder MEETOPTICS

NICK FULTON CEO & Co-founder trustshare

SHUHRAT ASHUROV Co-founder & CCO randevu.tech

The Chicken or Egg Problem: Buyers vs. Sellers

The chicken and egg problem in the context of marketplace business models revolves around the question of which should come first: the buyers or the sellers? It’s a classic catch-22 situation: you need buyers to attract sellers, but you also need sellers to attract buyers.

The panelists argued that the answer to this question depends on the type of marketplace being built. For example, in B2B marketplaces, it might be more important to focus on attracting buyers first, as they are the ones driving the demand for the products and services offered. On the other hand, in B2C marketplaces, it might be more important to attract sellers first, as they are the ones providing the products and services that will ultimately attract buyers.

Of course, there is no one-size-fits-all solution to this problem, and every marketplace will need to develop its own strategy for overcoming the chicken and egg conundrum. Some potential strategies include focusing on a specific niche, offering incentives for early adopters, and using publically available information for one side and driving demand for the customer side.

flow of data, the next challenge is monetization. There are several different monetization models that can be employed by a marketplace, including commissions, subscription fees, lead generation fees, fulfillment fees, and advertising fees, among others.

As with the chicken or egg problem, the choice of monetization model will largely depend on the type of marketplace being built, as well as its target audience and industry. Ultimately, the key to successful monetization is to strike a balance between generating revenue for the marketplace and providing value to its users. This may involve experimenting with different monetization models, adjusting pricing strategies, or even combining multiple monetization methods to find the perfect blend that works for your specific marketplace.

world, having access to accurate, up-to-date data is more important than ever for businesses looking to succeed in the online marketplace space.

Breaking the Tech Barrier: Overcoming Marketplace tech problem.

In today’s fast-paced business landscape, technology plays a pivotal role in the success of a marketplace. However, it can also become a significant hurdle. Such was the case for a marketplace startup of Shuhrat that ultimately met its demise. Despite the promising concept and market potential, the startup struggled due to an excessively long development timeline. It took them a staggering 8 months to build a half-functioning Minimum Viable Product (MVP), which proved to be a fatal setback. Fortunately, there are numerous tech solution providers available today.

Data: monitization and growth potential

As your marketplace grows, the wealth of data generated by user interactions and transactions can become a valuable asset. Marketplaces generate a wealth of data, including inventory visibility, order status, customer information, customer preferences, and more. This data can be used to help optimize the marketplace experience for both buyers and sellers, as well as to inform future business decisions and strategies.

Navigating Complexities in Payments and Financing

Managing payments and financing in a marketplace can be a complex and challenging endeavor. With multiple currencies, payment methods, and regulatory requirements to consider, it’s essential to partner with a reliable payment provider and stay up-to-date on industry best practices.

Monetization Models: Which Comes First?

Once a marketplace has successfully navigated the chicken and or the egg problem and is generating a steady

Written by Shuhrat Ashurov ©TheNTWK

Furthermore, by analyzing this data, you can gain insights into user behavior, market trends, and potential opportunities for growth. Additionally, you can monetize this data by offering targeted advertising, premium analytics services, or even selling it to third parties. The key is to strike a balance between monetizing your data and maintaining user trust and privacy.

In today’s GDPR-driven, cookie-less

Additionally, offering flexible financing options, such as credit lines or invoice financing, can help attract more users and facilitate transactions on your platform. By effectively managing the financial aspects of your marketplace, you can ensure a seamless user experience and drive sustained growth.

ECOSYSTEMS & COMMUNITIES

As the world becomes more interconnected and the needs of societies, companies and consumers grow in complexity and quality, the concepts of business ecosystems and communities have gained immense prominence. Successful business ecosystems and (online) communities need to be founded on shared purpose and goals that tie the participants together and are characterized by collaboration; working together with others to create value. This way they redefine relationships and structures through which value is delivered and are redrawing company and industry boundaries.

This chapter provides an in-depth exploration of business ecosystems and communities, examining their benefits, opportunities, and challenges - and giving insights and practical tools to design and implement them. It is clear that purpose-driven and collaborative ecosystems and communities will play a crucial role in our future economies.

Top 6 Key Takeaways for Business Ecosystems

1Business Ecosystems enable more comprehensive, customer centric and integrated services with outstanding end-to-end customer experience. They can help businesses tap into new sources of value and wider scale fast.

4Ecosystems should start small with a “minimum viable ecosystem” and build out over time, pivoting together where needed.

2It is crucial to ensure that value is provided to all parties in the business ecosystem and decisions are anchored around value.

3True partnerships are essential, while challenging to realise. Agreeing on collaboration structures and roles early increase chances for success.

5Becoming a successful ecosystem orchestrator needs to be earned, typically requiring a scarce resource such as a brand, capability or asset that the other participants do not have and are not aiming to develop.

6Embracing an ecosystem mindset requires a shift in traditional business practices, metrics, language, and risk management approaches to support collaborative efforts.

Top 4 Key Takeaways for (Online) Communities

1Clear purpose, goals and values help individuals to find and join the community, and guide the community-building efforts.

2Engagement in community can be fostered by a culture of belonging

This can be achieved by consistent and meaningful member experiences

3It is crucial to offer both online and inperson interactions with various ways to interact.

4Offering variety of opportunities to contribute to the community and allowing co-creation contributes to a thriving community.

Miriam van Straelen Partner Roland Berger

“The outdated mentality of one company needing to triumph over all others is behind us. Today, no single company will be able to fulfill the complex expectations of customers. Developing an ecosystem mindset is crucial. Ecosystems serve as strategic drivers for growth and unlock immense potential for organizations willing to adopt this perspective.”

Successful Ecosystem Strategies

As we move further into the digital age, it is becoming increasingly clear that businesses can no longer afford to operate in isolation. The era of the standalone company, with its neatly defined boundaries and clearly delineated value chains, is challenged. We dive into the new buzzword: Ecosystems.

As the world becomes more interconnected, businesses are increasingly realizing the importance of business ecosystems for value creation and long-term success. Instead of competing head-to-head with other businesses, companies working with an ecosystem strategy work together to create value with other players in the market.

It is not easy to successfully navigate the complex world of ecosystems and ensure they are creating value for their customers and all partners. We’ll explore strategies that can help businesses unlock the value of ecosystems.

Why engage in an Ecosystem?

Business disruption by ecosystems is fundamentally different than in the past. Earlier disruption happened within an industry, ecosystem disruption redraws industry boundaries by redefining relationships & structures through which value is delivered.

In this environment, companies often have two main reasons to engage in an ecosystem: seeking growth or needing defense. Ecosystem can help businesses grow and tap into new sources of value, allowing them to access new resources, capabilities, and markets, ultimately driving innovation and growth. At the same time, new and innovative players force companies to adapt and respond. By participating in ecosystems, businesses can better position themselves to fend off these challenges and maintain their market position.

Business - BASF Coatings

Roland Berger GmbH Management Ecosystemizer Co-author of the book “Ecosystemize Your Business”

OLIVER BIRK MIRIAM VAN STRAELEN JULIAN KAWOHL

Tuck School / Dartmouth College Author of the books “Winning the Right Game” & “The Wide Lens”

Value potential of Ecosystems

Understanding the value potential of an ecosystem is crucial. To do this, companies must first identify their customers’ needs and understand how participating in an ecosystem can help address these needs more effectively than traditional business models. By focusing on the customer and the end-to-end experience they’re seeking, companies can better identify where they can create value through ecosystems and collaboration.

In addition to integrating customer experiences, businesses must also consider their own assets and capabilities and how these can be leveraged within an ecosystem. Collaboration with partners allows companies to leverage their assets, creating value and seamless solutions that exceed what can be achieved alone.

4. Define minimum viable ecosystem

Ecosystems should start small and build out over time to handle the complexities. Defining the minimum viable ecosystem helps in determining the minimum number of partners to start with and the order in which partners should be onboarded.

Key strategies for Ecosystem success

1. Anchor the ecosystem in the value proposition

Ensure the value proposition is clear and provides value to all parties. Customer-centric mindset is crucial, however partner value is equally important for long term success. Anchor decisions around value.

2. Have common purpose and goal

A successful ecosystem strategy has a shared purpose that aligns all partners around a common goal. Purpose drives ecosystems, fosters innovation and brings resilience that is needed for the obstacles along the way

5. Understand the role of timing in ecosystem success

Successfully engaging in an ecosystem involves getting the timing right. Businesses must strike a balance between being too early and too late to the ecosystem party. Engaging in an ecosystem too early may mean that the necessary partners and resources are not yet in place, while waiting too long may result in missed opportunities and increased competition. Be conscious on the timing.

3. Define and agree the structure of collaboration early on

Level of ecosystem partner commitment changes over the course of the ecosystem. It is easy to find commitment for pilot phase. However issues arise after successful pilot when investments, details of roles and scaling come to play. Define and agree the required structures and rules for interaction upfront to save effort and resources.

6. Change in mindset requires change in processes, metrics and language

It is difficult to embrace ´ecosystem mindset´ when traditional business practices are not supporting the collaborative efforts required in this new landscape. When issues arise, it is natural to fall back onto the areas one can control and are familiar with, such as traditional risk management practices.

In order to change the mindset, there needs to be a shared vocabulary to ease articulating, metrics that align with the ecosystem goals, consideration for the needs of the traditional business and leadership, and tools to support the collaborative efforts.

Conclusion

Ecosystem strategies are becoming increasingly important for businesses looking to drive innovation, growth, and resilience in an ever-changing world. By adopting a collaborative approach and fostering partnerships, organizations can unlock new opportunities and deliver full customer experiences.

Ecosystemize Your BusinessStructured Methods For Disruptive Growth

Business ecosystems as a concept are not new, but their importance is becoming increasingly apparent. Welldesigned and sustainable ecosystems are progressively asserting themselves over traditional, primarily productor service-oriented companies and are showing resilience in today’s fast-paced and ever-changing business environment. The main question is: How?

Joining forces is a tremendous opportunity for growth and innovation as it empowers the ecosystem to generate more comprehensive, customer-centric and integrated services. The combination of different assets helps ecosystems to create a sharper value proposition and gain competitive advantages, ultimately enhancing overall corporate performance for all involved. As a consequence, there is no doubt that ecosystems will play a crucial role in shaping our future economy.

However, business leaders and strategists often lack the right tools and directional support to embark on their own ecosystem journey. The Ecosystemizer framework, developed by Prof. Dr. Julian Kawohl and tested with more than 1,000 practitioners, consists of numerous tools helping businesses to understand the concept of ecosystems, define clear strategies and design offerings to grow the business.

Organizations often lack structure and clarity in their ecosystem building efforts. PwC and Ecosystemizer have joined forces to help their clients gain confidence through the applied methodology - which has been showcased in this hands-on workshop.

At the heart of the Ecosystemizer framework lies the powerful Ecosystem Strategy Map, a tool to strategically understand and analyze a company’s current positioning and portfolio. The map positions the end consumer in the center and consists of ten life areas, each representing a human need. In addition, the Strategy Map uses three roles - the Enabler, the Realizer, and the Orchestratordefining the company’s relationship with the end user:

• An Enabler is usually a B2B company, which supports Realizers, Orchestrators and other Enablers by providing (intermediate) products, services or a (digital) B2B platform.

• A Realizer is a B2C company, which provides content, products, and services for final end consumers.

• An Orchestrator bundles products and services from different Realizers and offers them to end consumers through a (digital) B2C platform.

Therefore, by meticulously mapping their offerings onto the strategy map, businesses can gain valuable insights into their current strengths, weaknesses, and opportunities for growth within the ecosystem.

The Fig. 9 illustrates the concept of the Ecosystem Strategy Map by outlining exemplary offerings of an automotive OEM. Already a small fraction of the product portfolio covers numerous life areas and roles, which indicates that the company’s offering goes far beyond the mere production of vehicles. This information can now be used to strengthen the current market positioning and to define reasonable strategies for portfolio expansion.

and detail a new business model. The following guiding questions can be used to support the filling process:

1. Needs - Which human (or business) needs are relevant for the ecosystem solution?

2. Offering - What are the different component(s) of the offering(s) that effectively address the identified needs? What are the market innovations?

3. Assets - Which assets and capabilities do you bring to the table, which can be leveraged to realize the offering and strengthen the value proposition?

4. Partnering - Which strategic partners are needed to bridge the gap between what you can provide and what is needed to offer all listed offering components?

5. Data - Which data could you create, collect, analyze and integrate? What data is missing and how do you access it?

6. Transaction flow - What activity is performed by whom? Where are critical transactions, intricate relations and dependencies?

The Strategy Map as a single but versatile tool cannot only be used to understand an organization’s current standing but also to track the evolution of a company’s portfolio over time, and to define the future direction. It can further be utilized as a “war-gaming tool”. It helps us to identify potential gaps in the market, unveil hidden opportunities, and devise strategies to exploit these. In this context, the Ecosystem Strategy Map is also able to act as a navigator for identifying search fields for startup scouting.

Another key tool from the Ecosystemizer toolbox is the Ecosystem Design Grid which addresses a fundamental question on the ecosystem journey: How do I design an ecosystem offering and add necessary partners to effectively address the needs of its customers? By following a six-step-approach, the Design Grid helps to develop

The Fig. 10 shows an exemplary Design Grid from the perspective of a Realizer company (B2C) in the mobility sector (e.g., an automotive OEM), which has decided to enter the energy sector.

Business and ecosystems must adapt and evolve to not only survive but thrive in today’s complex and volatile world. By adopting a holistic and customer-centric ecosystem mindset and by leveraging tools such as the Ecosystem Strategy Map and the Ecosystem Design Grid, companies can position themselves for success within the ever-changing landscape of the digital age. However, it remains important to consider the full variety of investment vehicles and collaboration options available, especially when it comes to designing and implementing ecosystem business models.

Written by Alexander Rösch, Lukas Held, Roksana Siewiorek & Prof. Dr. Julian Kawohl ©TheNTWK

Why a Platform Is Not Enough - Brand (Architecture) Ecosystem

Defining the Essence of Brand first

A brand represents good reputation. While platforms solve problems more efficiently, take out friction and drive growth after reaching liquidity, brands are still (prior to AI making choices) essential for the success of platforms, because the also rely on viral effects of discovery, recommendation and sharing. The real challenge lies in simplifying these elements to make them distinctive, relevant, and appealing to customers.

The traditional definition of Brand architecture is too narrow: “The structure of brands (products or features) within an organizational entity.” A brand architecture regulates and defines the logic (strategic) and form (design)!

Platform Evolution: Quality Over Quantity

The main argument highlights a significant shift in platform strategies: “The time of accumulating as many

partners as possible seems to be over - with all the attempts to achieve ‘liquidity’.” It is emphasized that being a low-profile platform no longer holds promise for the future. Customers now seek more than just mass; they want better. Instead of overwhelming customers with an overwhelming number of partners, products, and features, it is asserted that outstanding experiences are key. This can be achieved by demonstrating a clear stance or thought leadership and providing valuable content on the platform’s topic.

All the attention in Platform Thinking is to the technicalities of platform strategy principles and technologies. This is far too narrow to become a successful platform player. Alex Pesjak presents 5 key Learnings to increase the odds of success

The Emotional Role of Brand Architecture (inside and outside)

A brand holds deep emotional connections, tightly intertwined with corporate governance and liquidity. In fact, a brand is often a company’s most valuable intangible asset, exemplified by prominent examples. Consequently the brand can be an accelerator but also a true burden.

• B2C: Trusted brand with huge penetration will drive trial and help solve chicken and egg easier. But brand associations might be prohibitive to play in different fields (think oil and gas company brands engaging in green energy, e.g. BP or Shell)

• B2B: Partners might shy away partnering with the orchestrator as this brand is a “former” competitor and ecosystem mindset is not developed yet (think classic private B2B businesses trying to integrate their sector, e.g. Klöckner or XOM)

VP Europe

McFadyen Digital

ALEX PESJAK

Performance: Building Blocks of Successful Platform Brands

A brand surpasses mere communication; it encompasses the sum of perceivable performances. It becomes imperative for platforms to find their niche and effectively position themselves in the eyes of customers. The Gestalt of the brand is essential. For platforms the Gestalt is equally important as the technology or architecture around a value creation unit.

• Compare Booking (Transaction and efficiency focus) vs. AirBnB (Experience focus: Purpose, Visual Identity, Community, Causes)

Minimum Viable Ecosystem and Brand

When designing platform strategy, people have heard about a MVE, “Minimum Viable Ecosystem”, by Ron Adner. Rather than striving for a perfect product from the outset, the principle of “test - learn - scale” allows for continuous improvement. This should involve the core of a brand: naming, visual identity and purpose.

• B2C: Google back then out innovated Yahoo and others also with the Visual Identity, focus on core interaction, name and of course tech under the hood.

Brand for Ecosystem Offense and Defense

Two examples of Ecosystems to highlight explained by Oliver Birk, Platform Business and Hans-Michael Krause, Director Ecosystem:

• B2B: Xarvio is a platform that offers digital solutions for agriculture and crop optimization that support farmers worldwide. Xarvio by BASF has “negotiation mass” when collaborating with John Deere and ending up with co-branding approach.

• B2B: ctrlX by Bosch Rexroth opens up a common world for users and partners: ctrlX World. Designed from the beginning with the user in mind. Different than many B2B brands with a great user experience and design, even if the devices would be locked in manufacturing machines.

Ecosystem Types and Brand Architectures

Pending on what type of Ecosystem you are managing or planning, you can apply different Brand Architectures. Develop different scenarios based on a well guided dialogue and prototypes and define your phase 1 brand architecture for your platform and ecosystem. Be open to define a roadmap and evolve as needed:

Key Takeaways for Businesses

• Invest in Branding: A strong brand is crucial for success in the platform and ecosystem business, creates a competitive advantage and drives long-term growth.

• Ensure Consistency: Consistent brand experiences build trust and reputation. Developing a well-defined brand architecture ensures consistent messaging and associations to the target audience.

• Embrace Adaptability: Being adaptable and adjusting branding strategies to align with market needs is essential.

Community Building in a Phygital World

This panel discussion explored the key considerations for creating an engaged and thriving community, drawing on examples from four community-building experts and founders who launched community businesses during the global COVID-19 pandemic.

Under pandemic travel and contact restrictions, online communities surged in popularity, allowing people to connect, learn, and grow together from anywhere in the world. As we ease into a new normal, it’s important to consider how to blend the best of our digital and physical worlds. Here we discuss how to create a cohesive and engaging community experience that allows for online and in-person interactions that complement and strengthen your community while creating positive change in the world.

Defining a Community Vision

The foundation of any successful community lies in a vision of its core purpose and values. Before you launch a community, take the time to define its purpose, mission, goals, and values. Here are some questions to consider:

- What is the overall mission or purpose of your community?

- What values do you want your community to embody? These could include things like inclusivity, collaboration, innovation, or support.

- What are the key goals and objectives of your community? These could be things like providing support, fostering connections, or driving innovation.

- How will your community serve its members and help them grow?

Establishing the answers to these questions serve two key functions: guide and focus your communitybuilding efforts; and attract likeminded individuals to join your community.

Creating a Culture of Belonging

Another critical aspect of fostering engagement in your community is creating a sense of belonging among its members. This is achieved by developing a strong identity with a shared set of values, reinforced by consistent and meaningful member experiences.

Rituals play a significant role in creating this sense of belonging and can take many forms, from weekly meetups and workshops to monthly challenges or celebrations. The key is to be consistent in offering these experiences, ensuring that members always have something to look forward to and engage with.

The significance of creating a unique member package blending both personal well being and professional development. This covered a range

of member needs while allowing different subgroups to evolve within the shared space. Creating smaller subgroups or mini-networks within the larger community also supports a sense of belonging. As Clare Muscutt suggests, the role of the community leader is not just to connect with each member individually but to facilitate connections between members.

Encouraging Member

Engagement and Participation

One of the biggest challenges faced by online community builders is keeping members engaged and participating in the community. To achieve this, it’s important to create a variety of opportunities for members to interact with one another and contribute to the community’s growth.

Experience TheNTWK Co-Founder TheNTWK

Women in CX Juno House Business Dev. Man. Grounded Innovation

ANNA NOAKES SCHULZE

MARINA PLANAS CLARE MUSCUTT

NATALIE BATLLE FÁTIMA DUARTE

Leveraging a combination of online and offline events and activities. By providing a range of opportunities for members to connect and share their experiences, you are able to drive ongoing engagement.

Clare Muscutt notes that it is unrealistic to expect that everyone will contribute the way you want them to. By providing various avenues for participation, such as webinars, blog posts, or local meetups, community members can choose the methods that align with their preferences and comfort levels.This not only increases the likelihood of appealing to a broader range of members but also demonstrate your commitment to inclusivity and accessibility within your community.

Co-Creation and Intentional Design

One of the keys to building a successful community is involving your members in the process of shaping the community itself. This concept, known as co-creation, allows you to tap into the collective intelligence of your community and ensure that the experiences and values you create are genuinely resonant with your audience.

Co-creation goes hand in hand with intentional design, which involves carefully planning and crafting the various elements of your community, from its values and purpose to the physical and digital spaces where members interact. Intentional design helps to create a cohesive and coherent community experience, ensuring that all aspects of the community align with the overarching goals and objectives. When co-creation and intentional design are combined, the result is a community that is not only engaging

and enjoyable for its members but also resilient and adaptable to change. As community builders, our role is to create the framework, set the stage, and provide the tools for our members to connect and collaborate. It’s in these connections and collaborations that the magic of community truly happens.

Monetizing the Community

For many organizations, monetizing their online community is an important objective. One popular approach to achieving this is through the adoption of a subscription-based model, where members pay a recurring fee to access the community and its resources.

Women in CX, Juno House and TheNTWK have successfully implemented this model, providing members with a range of valuable resources and benefits in exchange for their subscription fees. By ensuring that the value provided to members exceeds the cost of their subscriptions, these organizations have been able to generate sustainable revenue streams while continuing to invest in the growth and development of their communities.

So, monetize the community it depends on if the community is the

Written by Anna Noakes Schulze ©TheNTWK

product or, the community is adding added to the platform.

One innovative approach to encouraging contribution is the use of referral programs or incentives, such as the NFT program or TheNTWK’s community Ambassador program. By rewarding members for referring others to the community, leaders can not only expand their reach but also foster a sense of ownership and commitment among their members.

“We are a safe place where professionals share knowledge and help each other, with a family approach.The value is created by the community members and we are the connectors of the network.

Embracing the Hybrid Model

As the world moves toward a more hybrid way of life, it’s essential for community builders to embrace both online and in-person connections. While there’s no denying the magic that occurs when people connect in person, online community spaces can offer valuable opportunities for connection and growth as well.

In the post-pandemic world the hybrid model is here to stay. Online connections can help maintain and extend relationships that have been forged in person. By providing opportunities for both in-person and online interactions, community builders can create a well-rounded experience that caters to the diverse needs and preferences of their members.

IMMERSIVE EXPERIENCES & WEB3

See Our Immersive Experiences & Web3 Activities!

In the ever-evolving landscape of the Internet and digital connectivity, a new chapter is being written with Web3 and immersive experiences. As this transformative era unfolds, it is becoming increasingly vital to embrace education, experimentation and adaptability to thrive in the new digital world.

As technologies develop and converge, the boundaries between the physical and the digital worlds are integrating and blurring. Web3 and metaverse are enabling collaborative and social interactions by allowing users to connect, interact, and co-create with others, fostering a sense of community and shared experiences within virtual environment. This opens countless opportunities for organizations to interact with their audiences in innovative and creative ways, adapt to customer needs and lead the transformation in their industries.

This chapter explores the multifaceted aspects of Web3 and immersive experiences and their transformative impact on the digital landscape, and the possibilities that emerge when technology and human interaction merge in this exciting new frontier. By delving into user control and ownership, immersive experiences, tokenisation, personalisation and digital twins, we gain insights into the potential of Web3 and immersive experiences to reshape industries and enhance the ways in which we engage with digital content.

Top 8 Key Takeaways

1Technologies like mixed reality, blockchain and AI are converging, creating opportunities for new value, revenue streams, adaptability and enriched digital experiences.

4Web3 with blockchain in its core enables distributed ownership with user control, enhanced privacy and improved security.

2Physical and digital worlds are merging through accurate replicas of places and objects, and technologies enabling us to sense the digital world.

5Personalised, relevant and memorable experiences can be created through increased interaction, digital identities, user-generated value and immersiveness that is enhanced by senses.

7Powerful use cases of Web3 and immersive experiences are a reality, including digital humans, data-rich simulations on digital twins, customer loyalty based on participation, immersive trainings and 3D collaboration spaces.

Alun Evans CEO Freeverse

“The term NFT will forever be associated with the idea of collectibles and speculation, for better or for worse. The concept of digital ownership is already going beyond this term NFT. ”

3Metaverse can be seen as a new interface and platform that enables immersive 3D experiences and fosters creation of ecosystems and communities.

6Digital assets are increasingly focusing on actual utility that can be affected by the actions of their owners.

8In order for companies to take advantage of these opportunities and developments, there is a clear need for education, experimentation, focus on long term, moving technology to background and including existing customers and company-wide representation in the efforts.

Alberto Serrano CTO DevCenter

“Although AI has definitely taken away the limelight, the death of the Metaverse might have been greatly exaggerated, and AI could end up being the driving force behind the Metaverse.”

From Physical to Digital Experiences

Brands are constantly looking for new ways to engage and connect with present and future customers. This panel discussion explores the fascinating world of phygital experiences, where physical and digital worlds merge together to create interactive and engaging experiences. To better understand this phenomenon and its implications, outline the key considerations and potential impact on brand experience.

The Future of Brand Experience is Phygital

Innovative technologies such as immersive tech, virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) are rapidly transforming brand experience. These new technologies offer powerful advantages that help businesses to adapt to customers’ changing needs and preferences, create more value, and develop new and novel revenue streams. They also allow brands to design personalized, relevant and memorable experiences that differentiate the brand, delight customers, and improve loyalty. Discover what these technologies entail and how they can be used to create powerful phygital experiences.

Disrupting the Fragrance Industry

Camila Tomas described how Puig is disrupting the perfume industry by using innovative technologies to create new kinds of olfactory experiences for both digital and instore consumers. Their technology allows consumers to visually understand the composition of scents and make more informed choices according to their tastes and preferences. This is particularly important, as most people don’t understand fragrance and lack the vocabulary to describe the various fragrances they encounter. This language barrier can be a significant obstacle to perfume sales, and Puig’s cutting-edge technology helps bridge that gap.

Another barrier is the limited number of scents that can be sampled before the olfactory senses become overwhelmed. Puig has developed a scent-testing device that removes the alcohol molecule from perfumes, preventing the customer’s sense of smell becoming saturated. Now consumers can experience and compare as many fragrances as they wish in a single session without loss of discernment.

Puig has created a new business model by not only developing a digital ecosystem of ground-breaking fragrance technologies but also licensing the use of these technologies to partners - and even competitorswhile retaining and sharing the resulting data. It’s a brave decision in favor of collaborative competition in which the consumer is the ultimate winner.

The Metaverse of Wines

Patricia Ferruz talked about Second Winery’s goal to address the decline in wine consumption in younger generations by offering a new way to learn about and explore wines. The problems that wineries face include:

• Education: The average consumer has difficulty understanding wines and buying them with confidence.

• Perception: Younger consumers may perceive wine as old-fashioned.

• Consumption: Ten years ago, 46% of consumers under 44 years old consumed wine; today it is only 28%.

• Outreach: Only limited contact between wineries and the end customer.

Wineries are steeped in time-honored traditions that may seem old-fashioned to younger consumers. Most are not leveraging the potential of today’s technology tools to appeal to consumers in new and innovative ways. Second Winery has created a metaverse offering virtual wine tours.

Experience TheNTWK

ANNA NOAKES SCHULZE JUAN CAMPDERÀ CEO of Aktiva Brand Experience Design

PATRICIA FERRUZ

Angel Investor and Advisor to Second Winery

ENRIQUE PEREZ Enterprise Account Manager at Google

CAMILA TOMAS Vice President of Innovation & Technology at Puig

Users can explore different wineries, learn about the winemaking process, and even ask questions to an AI assistant, all within a virtual environment. This not only enhances the consumer’s understanding of wine but also offers an engaging and entertaining experience, attracting younger consumers who might otherwise be less interested in traditional wine culture. While the sense of taste cannot yet be replicated in the virtual world, the platform still offers a rich, interactive experience that enhances the learning process for potentially millions of consumers.

Phygital Design Challenges

Juan Campderà of Aktiva Brand Experience Design specializes in merging technology and design thinking to connect with consumers, seduce the senses, and differentiate brands. Design thinking generates a deep understanding of consumer needs to create engaging experiences that capture the essence of brand offerings and evoke a strong emotional connection.

that resonate with their target audience. Google’s AIpowered solutions help businesses harness the power of data to create personalized experiences that delight consumers and set them apart from the competition.

Juan explains that designers must understand this new phygital reality and create hybrid products that occupy the physical and digital worlds simultaneously, while offering society the best of both. He sees AR as a revolutionary technology that will seamlessly integrate the digital world into our physical reality. We’ll begin to interact with much more intuitive digital interfaces that blend unobtrusively into our physical space.

AI will help us do many mundane tasks faster, giving creatives the freedom to focus on ideation. What’s left for us is to embrace the qualities that make us more “human.” Namely, we are random, unpredictable, passionate and creative beings. These qualities are what make us unique, exclusive and, ultimately, add value to our work, companies, brands and society.

Customer Innovation with Generative AI

Enrique Perez of Google discussed the role of generative AI in shaping customer experiences. He shared how AI technology, specifically large language models, can understand context and generate meaningful dialogue responses. AI can be used to analyze consumer preferences, predict trends, and even generate personalized recommendations, making it an invaluable tool for companies looking to create phygital experiences

Written by Anna Noakes Schulze ©TheNTWK

What’s more, AI is also capable of understanding the nuances and relationships between words, allowing it to generate content that mimics the style and tone of a specific writer or even invent new content altogether. This technology is not limited to just text but can also be applied to images, videos, and other forms of content. Generative AI can assist in the design process, helping to create unique, innovative products that cater to individual tastes and preferences. Technology giant Google, whose products and solutions enable much of our productivity and digital experiences, is at the forefront of this revolution.

The Integration of Digital and Physical Worlds

The line between digital and physical experiences is becoming increasingly blurred. By leveraging the power of immersive technologies, brands can also design memorable experiences that create an emotional connection with customers, ultimately driving loyalty and engagement.

In conclusion, the future of brand experience lies in the seamless integration of digital and physical worlds. By harnessing the power of generative AI, machine learning and immersive technologies businesses can create uniquely relevant experiences that resonate with customers and foster brand loyalty. However, it is crucial for companies to use these technologies responsibly and ethically, ensuring that customer trust and satisfaction remain at the heart of their business. By combining design thinking with an ethical and intentional approach, the future of brand experience will be an exciting, experimental space for connected, engaging, and powerful phygital experiences.

Web3 & Metaverse

The concepts of the Metaverse and Web3 have generated a considerable amount of attention and debate in mainstream media since 2021. From Facebook’s rebranding to Meta, to the explosion of NFTs, it’s clear that we are witnessing a shift in the digital landscape. However, there are also reports of empty Metaverse platforms and layoffs in the space, leading some to question whether the Metaverse and Web3 are already dead. Let´s dive into the evolution of these concepts and explore the key lessons learned from companies who have entered the space.

Understanding the Evolution of Digital Interactions

It’s important to recognize that the digital world is not static, but rather constantly evolving. With each new iteration, we see advancements in technology, interfaces, and the way humans interact with one another. In the early days of the Internet, text-based chat rooms and instant messaging platforms like ICQ were the primary means of digital communication. Today, we not only have text, but also voice and video communication, allowing for a more visual and dynamic experience.

The Metaverse is the next step in this evolution, integrating 3D environments and avatars into the mix, allowing us to interact also with ‘things’. Rather than viewing the Metaverse as a separate space, it can be seen as an extension, a new interface for people to connect and interact digitally. Generative AI, Augmented Reality and Virtual Reality, among other new technologies, play their part in this evolution by enabling more enriching user experiences.

Web3 on the other hand, often referred to as the decentralized web, represents an evolution in the ownership of the Internet. Instead of a few global companies owning all the data and infrastructure, Web3 aims to give users more control with focus on privacy and security. Blockchain technology serves as the

backbone, and Web3 can be seen as an ecosystem enabling the change across various domains.

It is too early to see where we will end up in this rapidly changing space. For example, while Web3 champions democratization and digital identity, AI is leaning towards centralization under the control of big tech companies. We should remember the technologies can work together in very powerful ways, where for instance blockchain can be used to combat deepfake issues generated by AI.

While some may view the Metaverse and Web3 with scepticism, it’s crucial to recognize that these technologies represent a natural progression towards more interactive digital world and there are natural growing pains as organizations navigate this new territory. By learning from the past and embracing the possibilities of the future, we can unlock a more immersive, engaging, safe and dynamic experiences for us all.

Metaverse and Web3 provide exciting new opportunities for digital experiences. Diego Borgo shares insights and lessons learned stemming from his extensive experience in the space.

DIEGO BORGO

Key Lessons Learned

Diego has worked with numerous Fortune 500 companies entering the Metaverse and Web3 space and has several observations to help others navigate this new terrain. Here are five crucial points to consider:

1. Addressing the Lack of Education

One of the main challenges in embracing the Metaverse and Web3 is the lack of education and understanding of the topics, particularly among senior leadership. With so many new technologies and concepts at play - including blockchain, cryptocurrencies, AI, NFTs, and more - it can be difficult for companies to know where to begin. Ensuring that decision-makers understand these developments and the various applications is essential for successful innovation and adoption.

2. Overcoming Misconceptions

As with any emerging technology, there are numerous misconceptions and misunderstandings surrounding the Metaverse, Web3, and associated technologies, often fuelled by negative portrayals in the media. For example, cryptocurrencies are frequently associated with speculation, volatility and even money laundering, while the Metaverse is sometimes depicted as a dystopian, isolating experience. To fully unlock the potential of these innovations, it’s important to challenge these perceptions, correct

the misconceptions and recognize the potential for positive change and innovation within these technologies.

3. Navigating Tech Barriers

Technical barriers can be a significant obstacle for companies looking to enter the Web3 and Metaverse spaces. To overcome these challenges, businesses must be willing to experiment and learn from both their successes and failures. By addressing these barriers and developing strategies that are inclusive and accessible for all users, companies can maximize their potential for success both in short and long term.

4. Adopting Long-Term Mindset with Focus on Value

It’s essential to adopt a long-term perspective when approaching the Metaverse and Web3. Just as the Internet took several years to develop into its current form, these technologies will continue to evolve over time. Furthermore, rather than focusing on marketing activations and short-term gains, businesses must instead focus on their potential for long-term growth and success by solving problems or creating opportunities that were not possible before. This means investing in education, research, development, and testing to ensure that their strategies and products are wellpositioned for the future when the technologies are getting adopted widely. Approaching innovation with intentionality, thoughtfulness and depth will lead to better long-term results.

5. Navigating Corporate Environment

Large companies must be prepared to navigate the challenges that come with adopting new technologies within their existing structures. Corporate policies and processes together with regulations can present significant hurdles, and it’s essential for companies to work collaboratively and strategically to overcome these obstacles.

Conclusion

As we continue to explore the possibilities, it’s crucial to remain flexible and open to change. By staying informed, adaptable, and forward-thinking, businesses can harness the power of Metaverse and Web3 to drive growth, create new opportunities, and revolutionize the way we connect and interact digitally.

Metaverse in PracticeBeyond the Hype

The metaverse is far from dead; it’s just getting started as a platform for innovation and experiences. Find out unique and practical use cases leveraging various metaverse-related technologies, from blockchain and AI to 3D scanning and neural networks.

Metaverse has captured the attention of individuals, businesses, governments and media and is here to impact all industries from education and healthcare to manufacturing and public services. It is the next step of our online interactions, combining different technologies to deliver meaningful experiences in an interactive platform. In this article we will describe metaverse and its value through practical examples and show how metaverse is actively being built in multiple fronts.

together with the related technologies fosters creation of ecosystems and communities. As an example:

• Ecosystems & IP Rights : Bored Apes Yacht Club started with ownership rights on NFTs that encouraged creativity and has grown into an entire ecosystem of services and products.

• Communities: BAYC has created a vibrant community and Nike and Starbucks are building their own communities fuelled by NFT-based engagement and marketplaces

Powerful Experiences

Convergence of various technologies - like spatial computing, blockchain, VR, neural networks and AI - further elevate the experiences and amplify the disruption effect. As an example, Mastercard’s blockchain-based and AI-powered Music Pass offers easily accessible services while eliminating the middleman, allowing artists and fans to connect directly.

Practical Metaverse Applications

Collaboration Space: METAHYPE by Cupra

Innovation platform

Metaverse can be seen as an interconnected, interoperable and interactive innovation platform, that

Metaverse is founded on experiences, offering ability for people to socialize, work, transact, play and create. Powerful experiences can be created when combining virtual and physical worlds with communities, digital ownership, token bound accounts, meaningful experiences and effective storytelling.

METAHYPE is a virtual island created by Cupra. It is an open and collaborative space designed for brands, creators and communities to come together to exchange ideas, create and socialize. In METAHYPE individuals and brands can showcase their identities and creations and engage with their audience in various activities, such as learning, entertainment, gaming, exhibitions and events.

Web3 Manager CUPRA Hexagon Geosystems Phygital Twin

JORDI TORRENTE LUCA LUPATTELLI PAULA MARIE KILGARRIFF

Metaverse Academy

DR. MARTHA BOECKENFELD

Cupra itself also has various spaces and exciting activities in the island, allowing users to explore Cupra products, test and race virtual cars and have fun together, for example by dancing. The most exciting space for Cupra enthusiasts is CupraNext – a collaborative space where users can configure CUPRA DarkRebel. The configurations will influence the creation of the future physical model.

METAHYPE passport, a dynamic and non-transferable NFT, sits in the heart of the platform, serving as identification and means to unlock experiences after points (Hypes) are collected through activities. The experiences and possibilities at METAHYPE are being continuously developed, where for example soon group calls and video streaming are possible.

Digital Twins: Smart Digital RealityTM by Hexagon

Hexagon is bringing reality into the metaverse through digital twin technology. Their solutions connect physical and digital worlds by creating data-enriched accurate replicas of realworld places, objects, or workflows. These Smart Digital RealitiesTM provide real-time data of their physical counterparts, enabling measurements and analysis that improve effective decision-making and automation.

The applications of this technology are wide and transformative.

Here are a few examples: In the Industrial Metaverse, digital twins of factories can be connected with the physical ones so that decision makers can monitor the environment in real time. Additionally, in the context of Digital Humanities and Metaverse for Education, students can be taught on historical sites while being immersed within them.

Digital & Phygital Fashion: Phygital Twin

Phygital Twin is a design studio and future marketplace for co-creating AI-generated 3D Phygital clothing produced on demand, providing a sustainable solution to the fast fashion industry. It also serves as a hub for creators and stakeholders to connect, learn about fashion, and engage in the design and production of digital asset garments through gamified experiences.

Phygital Twin has a live case metaverse study with the Fashion E-commerce programme at Technological University Dublin Ireland, delivering Web3 brand activation, classes and design proposals using Spatial Metaverse platform.

Conclusion

The metaverse is far from dead; it’s just getting started. Not only is it eminent in these different use cases shown but also this panel itself was a proof of that: Marthaverse brought us together even when we were not able to be physically on stage. Technology allowed us to connect as if we were all together in person: panelists and participants joined through avatars while also being physically in an event hall, seamlessly sharing presentations and videos and having real-time interaction with audience members worldwide.

Digital & Phygital Fashion: Phygital Twin

Written by Milja van ‘t

& Dr. Martha Boeckenfeld ©TheNTWK

Phygital

Twin is a design studio and future marketplace for co-creating AI-generated 3D Phygital clothing that can be produced on demand, providing a sustainable solution to the fast fashion industry. It also serves as a hub for creators and stakeholders to connect, learn about fashion, and engage in the design and production of digital asset garments through gamified experiences.

Driving Loyalty in Web3 with NFTs

This panel discussion centered around the exploration of NFTs as a catalyst for fostering loyalty in the Web3 era. It shed light on the immense potential NFTs hold for revolutionizing loyalty programs, while also addressing the obstacles associated with their implementation.

Business Impact of Customer Loyalty

Generating customer loyalty and repeat business is the bedrock of any successful business. It’s a proven business driver that increases sales, revenues and referrals while lowering operating, marketing, and customer acquisition costs. According to Bain & Company, improving customer retention by 5% can result in a 25% increase in profits.

For most brands, loyalty programs are an effective marketing tool for building long-term relationships with customers and offering incentives to keep them coming back. According to the 2022 Loyalty Barometer Report, 79% of consumers say they are more likely to do business with brands that have a loyalty program.

Traditional Loyalty Programs Fail to Deliver

Why do most traditional Web2 loyalty programs struggle to keep customers actively engaged? Key loyalty program shortcomings include:

1. Lack of differentiation: There are too many cookiecutter loyalty programs that fail to stand out or make an impression on customers.

2. Lack of personalization: Traditional loyalty programs often offer the same rewards to all customers, failing to cater to individual preferences and needs.

3. Walled gardens: Loyalty programs rewards are limited to one brand or a few preferred partners within a closed loyalty program.

4. Friction: Customers become frustrated by programs that make them work to redeem rewards, offer unappealing incentives, or bribe them to spend more.

Web3-enabled loyalty programs are an exciting area of business innovation that promise to reignite customer loyalty and engagement powered by NFTs.

NFTs Enhance Customer Loyalty & Insights

Web3 loyalty programs, underpinned by NFTs, offer a revolutionary new approach to driving customer loyalty, enabling the creation of unique digital assets that can be used to represent various types of rewards, perks, and benefits.

The key advantages of Web3 loyalty programs include:

1. Increased engagement: NFT holders are typically 3x more engaged than customers participating in traditional loyalty programs, leading to higher customer retention.

2. Personalized rewards: NFTs allow to create highly personalized rewards and unique experiences that cater to individual preferences and make feel more valued.

3. Ownership and asset liquidity: NFTs give customers true ownership of their rewards, so they can trade, sell, or exchange them, adding a new layer of utility and value to the rewards.

4. Interoperability and portability: NFTs can be used as universal multi-brand loyalty cards enabling seamless cross-brand interactions and collaborations.

5. Improved security: NFTs provide transparency via the blockchain, reducing the risk of fraud while ensuring that rewards are accurately tracked and managed.

Experience TheNTWK

ANNA NOAKES SCHULZE ALUN EVANS CEO Freeverse.io

SOFIA MIRO-SANS Business Developer & Product Strategist Exclusible

GEORGI JASHIASHVILI CEO & Co-Founder Enefty

LILIA KRAVETS Web3 Marketer & Community Builder MBD Financials

6. Granularity of data & insights: NFTs allow brands to interact with NFT holders on an ongoing basis and develop deeper insights into engagement with customers and brand fans.

Web3 Loyalty in Action: Starbucks

Starbucks was cited by our panel as one of the few brands to have effectively bridged Web2 and Web3 by integrating NFTs into an existing loyalty program. The program uses NFTs as digital membership cards that make it easy to purchase, trade, exchange and sell NFTs without needing a crypto wallet or even mentioning the word NFT.

Polygon is an acceleration layer on top of Ethereum and is technically a Layer 2 but now effectively its own blockchain. Freeverse is a Layer 3 which accelerates only those calculations needed for NFTs. Proof-of-stake systems have largely addressed these concerns around minting NFTs.

4. Limited decentralization: The lack of decentralization and the storage of NFT data on private servers is also another problem. If the data associated with a token is stored somewhere off-chain, then everything that gives the NFT value could be subject to hacking or theft.

5. Static versus dynamic NFTs: upgrading and changing of NFT properties based on user actions. This gives the NFT more inherent value than static collectibles and incentivizes engagement in order to create more value.

Through interactive activities and gamification, the program aims to expand the rewards customers can earn beyond the usual free drinks and gain access to exclusive discounts, offers, and events. The first collection of 2,000 digital “Journey Stamps” sold out in under 20 minutes.

Challenges to Overcome in Web3 Loyalty

1. Technical barriers for brands: Web3 loyalty programs require a different skill set and technology, which may be a barrier for some brands. However, the advantages of Web3 loyalty programs will justify the learning curve.

2. Technical barriers for customers: Lack of mainstream familiarity with wallets and poor understanding of NFTs add to the complexity of onboarding customers.

3. Environmental considerations: The panelists noted that newer blockchains that have moved to proof-of-stake are more eco-friendly than the original Bitcoin blockchain.

Building Customer Loyalty in Web3

The most significant distinction between traditional loyalty programs and Web3 loyalty is the shift from transactions to participation. The “buy more to earn more” model of Web2 loyalty is being superseded by loyalty building via active engagement in activities that allow customers to move up the reward system, own their data, and share it in exchange for value that is personalized and meaningful.

Empowering Creators To Own And Monetize Their Digital Identity

Sergi Sagàs and Alun Evans explore how creators can use Web3 to engage their fans in fair and sustainable ways, show us cutting edge ‘digital human’ technology, and explore how this digital identity can help creators and celebrities expand their exposure.

As AI continues to advance and the concept of the metaverse evolves, the need for a strong digital identity is becoming increasingly apparent. Despite the impressive capabilities of AI, there is a growing concern regarding the ownership and rights associated with digital human likenesses. Celebrities are seeing their digital likeness used in AI-driven promotions that they are not approving or performing for. Moreover, many celebrities do not own the rights to their own likeness, with movie studios often holding the rights for specific films or characters.

There is also a new wave of innovation emerging as the technology behind NFTs evolves. A key development in this space is the concept of user-generated value, which has the potential to revolutionize how we interact with digital content and unlock new opportunities for both creators and consumers alike.

These developments show the need for a strong digital identity. In this article, we explore the potential of digital

identity and digital ownership, and show how they can be used to create new powerful experiences and enable monetisation for the creators.

Freeverse.io

ALUN EVANS

SERGI SAGÀS

Digital Identity

As the concept of the metaverse evolves, the need for a strong digital identity will become continuously more important. While the term “metaverse” may eventually fade away, the concepts behind it – persistent virtual spaces and new ways of engaging with digital content and experiences – are here to stay. It’s important to protect the IP of individuals, their ‘likeness’, voice and motion to pave the way for a future where our digital identities are just as relevant as our real-world selves.

These opportunities come across with the rapid advancement of key technologies such as blockchain and artificial intelligence. By leveraging a blockchain layer, the rights to these digital humans can be securely traced back to the respective IP owners, protecting creators and their digital identities. Also, besides creating digital twins of our physical selves, local neural networks can be trained with data that the individual wants to share so that an AI algorithm can generate a “brain” for that digital human, thus giving it a unique digital identity; breaking new ground and offering a glimpse into the infinite possibilities for the future of digital content, ownership, and engagement.

User generated-value and the new wave of digital ownership

While some might see digital assets and digital identity as a separation from the physical world, for creators, this means the potential to monetize their content in novel ways, tapping into the power of their fanbase and rewarding those who engage most actively with their work. For consumers, it offers the chance to access unique experiences and form closer connections with the content and creators they love.

What is already happening

HYPERREAL has created a HYPERVAULT platform, a platform and marketplace for managing and monetizing digital identity assets. This platform stores a person’s digital DNA, including their likeness, voice, and motion. It allows for the creation of high-quality digital humans that can be used across various applications, enabling creators to activate their digital identities across various virtual spaces, music videos, holograms, and branding initiatives.

(1) This has enabled creation of Paul McCartney’s “Find My Way” music video, where a de-aged version of himself performs with his current voice, showcasing the various ways the digital identity can be used. (2) As another example, Alta B, a fictional synthetic music star, has her own music videos and actively interacts with fans in real-time across multiple platforms, exemplifying the transformative potential of digital identity in fostering unique connections.

At its core, user-generated value is about leveraging the power of the individual user to create, enhance, and ultimately increase the value of digital assets. In contrast to the first wave of NFTs, which derive their value primarily from their uniqueness and rarity, user-generated value focuses on the utility that can be affected by the actions of the owner. This could be anything from virtual goods within a video game to unique experiences with digital humans or celebrities.

Imagine a digital token that is associated with your account on a social media platform. By interacting with content on the platform, such as liking a tweet or sharing a post, you are directly affecting the utility of that digital token. As a result, the value of the token increases, and others may then be more inclined to purchase it. This concept of user-generated value is central to the emerging wave of NFTs and has the potential to transform not only the NFT market but also the way we interact with digital content.

These examples demonstrate how user-generated value and digital identity are already revolutionizing the way creators and consumers engage with digital content, offering new avenues for monetization, immersive experiences, and meaningful interactions.

SUSTAINABILITY & CIRCULAR ECONOMY

With increasingly growing awareness about the impacts of climate change and the depletion of natural resources, it is time for businesses to take a more active role in promoting sustainability and circularity in their operations. During theNTWKSummit23 we held a number of discussion panels & workshops on how digital innovative strategies can leverage collaboration to create a sustainable future - and why doing so is not only good for the environment but also for the bottom line.

For any sustainable business to be effective and efficient, there is no single right way. Some companies will react exclusively to government regulations upon mandatory sanctions, some will act based on their resource dependencies, while others are truly committed to the cause and are willing to engage in the voluntary shift. The last ones deserve the necessary support, both on tax policies and investor funding as they are the ones who open the door and validate the business model innovation in that space to provide sufficient proof of concept to the followers.

Top 7 Key Takeaways

1Track, Trace & Act Visibility and trust is what digital can bring to the sustainable businesses. It can provide better resource management, better collaboration to build a circular business across the supply chain, better capacities to calculate and hold the stakeholders accountable.

4There is a need to overcome cultural and geographical challenges. To ensure that these solutions are effective and scalable, businesses must adapt to local contexts and be sensitive to cultural differences.

7Digital technologies, such as blockchain and artificial intelligence, can help enable sustainable business models by increasing trust, transparency, efficiency and collaboration.

2Making products and services desirable is what every company wants. So in order to resonate with the current decision-makers both in corporate, VC and government, sustainability needs to become sexy from a business standpoint. Sustainable business needs to be price competitive. This can be achieved for example by tax regulation on circular materials.

5Regenerative ecosystems goes beyond sustainability by actively seeking to repair and restore damaged ecosystems, creating a more resilient and abundant future.

3Educate people, both children and adults. By raising awareness we are able to create consumer pressure on the companies. An aware customer can make conscious choices and spend their money elsewhere if the company doesn’t show enough engagement towards sustainability.

6To drive sustainability and circularity at scale for ecosystem and partnership, businesses must form alliances across industries, governments, and NGOs.

Catherine

“Circularity and ecosystems are moving together”

“Government, shareholder, & customer demands for sustainability are driving the growth of circular marketplaces.”

Schoendorff Founder & CEO DIVVA

Tom McFadyen CEO & Author McFadyen Digital

Ecosystems - a Friend Or a Foe of The Sustainable Future

The digital transformation brought an enormous amount of benefits but sustainable aspects of this transformation have been overlooked. While observing the rising interest in digital ecosystem creation, we need to make sure that we do not repeat the same mistake. As the ecosystem economy is based on finding win for all situations including companies, clients and partners we should add the fourth “win” ie. the environment & social values. Let’s call it a “4x ecosystem win or PCPC approach” = Planet, Customers, Partners &

Different ways but same direction

There is no one right way to leverage the digital platforms for sustainability purposes. Here are just few examples of complementary visions:

There is no one-size-fits-all approach to create sustainable ecosystems. Different businesses and organizations have unique needs and goals, which means that their approach to sustainability must be tailored accordingly. Here are some examples of the various approaches businesses can take:

1. The Big Picture Approach

Some businesses, such as SAP, take a top-down approach to sustainability. They work with their customers and suppliers to develop strategic plans for sustainability, which involve

setting long-term goals, developing new operating models, and investing in innovative technologies and processes. By taking a big-picture approach, these businesses can drive systemic change and create a lasting impact on their industry.

2. The Grassroots Approach

Other businesses, such as Foodia, focus on creating change from the ground up. They work directly with buyers and sellers in their industry to reduce intermediaries and in parallel they work to support sustainable

projects through generated revenue sharing. By focusing on the needs of their customers and providing tangible value, these businesses can create a sustainable ecosystem that is both economically viable and environmentally friendly.

3. The High curated collaborative Approach

Other businesses, like Simplr, focus on building a sustainable ecosystem through highly curated collaboration. They partner exclusively with manufacturers and service providers that can reply to high requirements of sustainable production. Simplr offers products and services by inserting them into the sharing economy to reduce waste and promote resource efficiency. By working together in a collaborative ecosystem can create a self-sustaining network that benefits all parties involved - manufacturers, service providers, and consumers.

Company

MARTA AGRECH

JUAN CRISTOBAL VICUÑA

EMANUELE MUSA ANGEL BOU

MATHILDE HEBERT STEPHAN FESTER CEO FOODIA CEO Babele Create Together ApS

CEO & Co-Founder Simplr

Co-founder Ma Petite Planete

Co-Lead SAP Circular Manufacturing Practice

4. Corporate hackers

Babele.com is also trying to tackle the sustainability challenge by allowing talented employees to put their skill at disposal of socially and environmentally responsible initiatives. This is an extremely well thought out everybody-wins approach helping to answer the challenge of bigger purpose in daily work, that so many, especially in young generations are looking for. It also helps companies improve their image and allows an access to the tangible pool of talent that wouldn’t be accessible to NGOs or socially targeted projects that are usually underfunded.

5. The Activist Approach

Organizations such as My Petite Planète take an activist approach to promoting sustainability. They work to

raise awareness about environmental issues, hold businesses accountable for their environmental impact, and advocate for policy changes to promote sustainability. By creating a strong voice for sustainability, these organizations can help drive change.

The Path Forward: Building a Sustainable Future

Building sustainable ecosystems is an ongoing process that requires the collaboration of businesses, organizations, and individuals alike. Check the graphic below to see some steps we can take to promote sustainability and create a more ecofriendly world.

Between responsibilities and capacities - European market equilibrium

The European market has an important role to play, as European developed countries have their part of historic responsibility in the current emission situation. Additionally, there is an important aspect of the European young generation being more sensitive to questions related to sustainable growth. Young generations are more willing to hold companies accountable for their environmental and social impacts.

Double standards in financing

Financing of sustainable projects still remains a challenge as they are being held to the same profitability expectations that the companies purely focused on their financial performance. This starts to shift thanks to some engaged investors that dispose of an actual vision and willingness to commit. Those investors, however, still remain a minority.

On a more positive side, we can observe some of the circular oriented platforms that lead the way for others, reassuring the investors that circular business can also, in time, be extremely profitable.

Written by Marta Agrech, Catherine Schoendorff & Phuong

Scaling Regeneration Through Platform Strategies

As we continue to experience rapid technological advancements and societal changes, the platform economy has become an increasingly critical area of focus. In this session by Lucia Hernandez, an expert in the platform economy and regenerative economic models, she explores the evolution of the platform economy and its potential for fostering regeneration at scale

Economy Expert Regenerative Design International Consultant United Nations

Platform

LUCÍA HERNÁNDEZ

Regenerative Platforms: A New Era in the Platform Economy

Over the past decade, the platform economy has been at the forefront of innovation and disruption. The rise of companies like Uber, Airbnb, and Etsy has allowed millions of people to capitalize on their skills, assets, and time. However, as we enter a new era of the platform economy, we must consider how these platforms can go beyond being merely transactional and focus on creating regenerative value for all stakeholders, including our planet.

Regenerative platforms are those that align human needs with the needs of nature. Some key principles of regenerative design include focusing on the potential of individuals and ecosystems, creating interconnectedness and relationships within the system, allowing for emergence, and promoting co-evolution.

Examples of regenerative platforms:

• EthicHub: A decentralized finance platform that enables small farmers to access capital at low interest rates, creating a win-win relationship between investors and farmers.

• Jasmine Energy: A platform that combines renewable energy with non-fungible tokens (NFTs) to create a sustainable energy ecosystem.

• A-Lab: A lab working at the intersection of Web3 and climate change, investing billions of dollars in regenerative platform development.

The Future of Regenerative Platforms

The Evolution of the Platform Economy

Two-sided platforms started with the sharing or collaborative economy, which focused on reducing transaction costs and shifting from products to services. However, these platforms often became just another distribution channel for traditional companies to exploit.

As the platform economy grew, it gave rise to the gig economy, where workers were increasingly commoditized, leading to poor working conditions and long hours. At the same time, the platform cooperativism movement emerged, advocating for shared governance and ownership within platforms. Next came the creator economy, which focused on empowering independent professionals to turn their skills, knowledge, and experiences into businesses.

More recently, we have seen the rise of the ownership economy, driven by decentralized autonomous organizations (DAOs) built on blockchain technology. These community-driven organizations use token-based economic systems to enable contribution and reward, creating a new model for governance and decisionmaking.

Regenerative Design: Moving Beyond Sustainability

As we enter a new era in the platform economy, it is essential that we focus on creating regenerative value - value that goes beyond sustaining what we have and instead focuses on regenerating our damaged ecosystems. Regenerative design is an approach that seeks to create the conditions for all living beings to thrive and flourish. It has been applied in various fields, including architecture, urbanism, fashion, and agriculture.

Written by Catherine Schoendorff ©TheNTWK

The future of regenerative platforms will be decentralized, distributed, and interdependent. As more platforms adopt blockchain technology and DAO structures, we will see a shift towards community-driven governance and decisionmaking. This will enable the development of contextspecific solutions that are better suited to the needs of individual ecosystems.

Additionally, as platforms continue to cross sectors and industries, the boundaries between organizations will become increasingly blurred. This will create new opportunities for collaboration and co-evolution, as well as the potential for exponential growth in the regenerative platform space.

By embracing regenerative design principles and working to create value for all stakeholders, we have the opportunity to transform the platform economy into a force for good, ensuring the well-being of all living beings and the planet we all share.

Revolutionizing Sustainability: How Blockchain Is Fueling The Circular Economy

Envision a world where waste is no longer a problem but an opportunity; where resources are used to their fullest potential, and our supply chains are transparent, ethical, and efficient. This vision is not just a dream but a reality that is gradually being shaped by the power of digital technologies like blockchain. The following insights stem from an insightful and engaging workshop delivered by Bob Gravestijn and Fleur Boos.

FLEUR BOOS

Strategic advisor The Value Department

Harnessing the power of blockchain for a circular and sustainable future.

The concept of a circular economy is centred on keeping resources within the economic system for as long as possible, minimising waste, and maximising resource efficiency through a closed-loop ecosystem. In this context, blockchain technology emerges as a gamechanger. As Bob puts it, combining the key characteristics of blockchain for circularity results in: “waste + information = resource”.

integration. One critical aspect to consider is blockchain’s impact on power consumption. The energy consumption of blockchain networks varies depending on the consensus algorithm used. For instance, Proof of Work (PoW) is known for its energyintensive nature, raising concerns about its environmental impact and sustainability.

ethical practices in various industries.

Blockchain’s potential to drive sustainability is closely linked to the United Nations Sustainable Development Goals (UN SDGs), a set of 17 global goals designed to address the world’s most pressing social, economic, and environmental challenges. By promoting transparency, traceability, and efficiency in supply chains, blockchain can directly contribute to achieving several of the UN SDGs, including:

• Decent work and economic growth (SDG 8),

• Climate action (SDG 13), and

• Life below water and on land (SDGs 14 and 15).

On the other hand, alternative consensus algorithms, such as Proof of Stake (PoS), offer a more sustainable solution. Since PoS consumes considerably less energy than PoW, it is better suited for promoting a circular and sustainable future. Moreover, the integration of renewable energy sources can further enhance the sustainability of PoS-based blockchain networks, potentially even achieving energy neutrality.

But how do these abstract ideas translate into real-world solutions?

Let’s take a look at some exciting examples of blockchain in action within the circular economy:

• Platforms revolutionising waste management by connecting agents to create an end-toend trace of product-to-waste life cycle, using blockchain technology for unparalleled transparency.

• Projects incentivising sustainable transportation methods by using blockchain to quantify carbon footprint reduction, and rewarding eco-friendly commuters.

• Blockchain-based apps that monitor, report, and verify reforestation and conservation efforts, ensuring sustainable land management practices are in place.

Other challenges, such as scalability, interoperability, integration with legacy systems, and protection of sensitive data, must also be addressed to maximise blockchain’s potential in fostering a circular economy. Stephan Fester (SAP) resonated with the interoperability barrier, stating, “...in the battery business, one of the biggest challenges is to track the raw material… all the materials... Everybody is talking about whether to join this or the other blockchain.”

The journey towards a sustainable future doesn’t end with blockchain. Digital technologies as a whole play a pivotal role in promoting a lowcarbon economy. By providing more transparency, enhanced efficiency, and encouraged collaboration, these technologies contribute to the global net-zero transition efforts.

Undeniably, the power of blockchain technology can reshape our world, transforming our current linear model into a more circular and sustainable one. By adopting more sustainable consensus algorithms and integrating renewable energy sources, blockchain can play a prominent role in fostering a greener, more resource-efficient future. Let’s embrace blockchain and work together to create a world where waste is a resource, and sustainability is the norm, ultimately contributing to the achievement of the UN SDGs.

However, as we dive deeper into the realm of blockchain and the circular economy, it’s essential to recognise the potential barriers to

• Companies leveraging blockchain to promote supply chain transparency and traceability, reducing waste and supporting

Written by Fleur Boos, Bob Gravestijn, Phuong Pham

The Circular Advantage on Innovative Business Models

As we stand at the crossroads of environmental protection and economic progression, the circular economy framework steps into the forefront. Harnessing this model, we’ve chosen two trailblazing startups that have risen to the challenge, breaking conventional business norms and showcasing a purpose-driven approach with Menddie and TraceChain. Bridging the consultancy expertise to this paradigm, we further looked into the promising potential of an open-source toolkit for circular product designs (Clarasys) and the integration of circular models into enterprise resource planning (ERP) systems (SAP).

MELOTE

Menddie’s Business Model: Care & Repair As A Service

simultaneously addressing desirability, feasibility, and viability.

Circular Manufacturing And The Challenges Of Scaling A Business Model (SAP)

The journey unveils a narrative on how businesses can navigate issues related to resource scarcity, deglobalization of supply chains, and efficiency in spare parts management. This captivating voyage towards a more sustainable business ecosystem occurs amidst an irresistible shift toward service-based models. Pioneering this transformation, companies like Menddie (helmed by Riikka Olli) underscore the value of customer relationships and behavioral insights that outlast one-time transactions, heralding a new era in business-customer dynamics.

TraceChain As Facilitator Of Circularity In The Building Industry

Yet, transitions of such magnitude are not without their share of trials. Stephan Fester emphasizes the impact of this shift on financial perspectives while turning linear SAP processes into circular closed loops. The challenge lies not just in implementing the circular models but in acclimating the cash flow dynamics and balance sheet parameters to these new models. Moreover, digital transformation is an integral aspect of transitioning to the circular model, making continuous customer engagement and reliable revenue streams attainable.

Navigating the Circular Economy: Leadership, Trust, and the Path to Sustainable Prosperity

Transitioning to the circular economy framework demands robust leadership at all levels, from government interventions to visionary business leaders willing to be pioneer the change within their industries. Companies realize the potential of sustainability, not just as a means of reducing their carbon footprint but as a unique business strategy to connect with an increasingly eco-conscious consumer base.

Complementing this change, digital platforms like TraceChain are emerging with a mission to promote sustainable practices in traditionally linear industries. Co-founder Timmy Melotte champions the power of blockchain to create an ecosystem linking supply and demand in the construction sector, offering a solution for the colossal waste it generates. This innovative business model strives to put the goals of responsible consumption, climate action, and transparency at the heart of the building industry.

Clarasys’ Circular Experience And How To Scale Up Your Innovation

This journey towards a circular future is fraught with challenges, from disrupting established supply chains to overcoming resistance. However, with the promise of fair value distribution and the revival of traditional professions, the circular model is gradually gaining traction. A central tenet to the success of the circular model is trust, particularly when it comes to the quality and state of materials destined for reuse and refurbishment. The future of the circular economy hinges upon the perfect blend of waste, information, and resources. A network like Catena-X, which leverages the automotive industry’s trust, significantly simplifies the process.

Four different approaches were presented in this session. Four innovative business model approaches, which remind the reader that the move towards a circular economy is more than a fashionable concept or a buzzword: Besides a genuine commitment to sustainability, circularity is a strong enabler be concrete, inclusive, and transparent.

Sam Maguire further enriches the narrative and presents his work with Exeter University’s Circular Economy hub: They developed an open-source toolkit that helps businesses transition to a customer-centric circular model,

Written by Catherine Schoendorff ©TheNTWK

DIGITAL BUSINESS MODELS & INNOVATION

In today’s ever-changing landscape, the untapped potential for transformative innovation in traditional sectors is garnering increasing attention. Industries that have been the backbone of economies for decades, such as Health, Mobility, and Energy, are ripe for revolutionary advancements. By fostering cross-industry collaboration, embracing people-centric approaches, and building strong communities, stakeholders can harness the power of innovation to transcend industry boundaries and drive systemic change.

The Energy sector, in particular, is experiencing a momentous shift towards a greener and more sustainable future. This transformation is driven by technological advancements, environmental imperatives, and an increasing focus on renewable energy sources. As we delve deeper into this realm, the report will delve into the opportunities and challenges that come with adopting a more sustainable approach.

The Mobility ecosystem is also undergoing a radical transformation, characterized by a structured collaborative network involving vehicle manufacturers, service providers, infrastructure players, government bodies, and end-users. Digital platform business models have emerged as catalysts, boosting collaboration and enabling a redesign to enhance the end-user experience.

Furthermore, we analyze the impact of digital innovation in Healthcare, with endless possibilities and significant potential benefits, the future of healthcare delivery is set to be revolutionized. The health industry is experiencing unprecedented innovation, leveraging emerging technologies such as Artificial Intelligence to enhance and improve patient care .However, as with any transformation, challenges and opportunities await. The report will delve into the key aspects of this digital disruption and the implications it holds for healthcare providers and patients alike.

In summary, this section report aims to shed light on the transformative potential of innovation in traditional sectors. By fostering collaboration and embracing new approaches, stakeholders can pave the way for a brighter, more sustainable, and people-centric future.

Top 6 Key Takeaways

1Successful business reinvention aims for a significant change and requires changes to the core business elements, adapting all technology layers and considering all employees.

4Importance of soft skills keeps on increasing and focus should shift towards “human skills” that set us apart from machines.

2Organisations can achieve better results when they adopt a mindset focusing on outcomes instead of output, which OKRs can facilitate.

3AI is becoming a fundamental business requirement and it is important to consider and combine different AI techniques to solve business problems effectively.

5Embracing “learnit-all” philosophy instead of “know-itall” philosophy is crucial for adaptation that innovation requires.

Diego Borgo Metaverse & NFT Advisor Co-Founder BorgoLabs

6Companies can learn from nature’s approach to growth and apply the concept of layering to their innovation strategies.

“It is really difficult for brands to start innovating when there are so many technologies that are coming to play and so many ways on which you can look into that mix. That often starts either holding brands back or accelerating failures [...] One of the biggest mistakes you can make within innovation is trying to predict the future by looking at the present and lacking a concrete view on what is happening in the big picture.”

Reinvent Your Business

Areas impacting every business

1. Means versus ends

Over the next three years, every company or brand will need to reinvent itself. This is the major finding of a recent survey of over 3,000 CEOs by Alix Partners. 98% of CEOs say they need to overhaul their business model within the next three years. Eighty-five percent of CEOs struggle to know where to start, and how to manage and lead a business reinvention successfully.

There are a lot of valuable discussions about the `means` to create, build and improve businesses and companies, including digital business models, concepts like network effects and technologies like AI. However, we should not forget the ‘end’ and include that also in the discussions: how all these tools together can be used to reinvent businesses, how this all affects the businesses and what is in store for executives.

As an example Fira, A Finnish construction service company, decided to tackle this head-on by leveraging data-driven insights across their supply chain network. As a result of their streamlined operations across businesses, a construction that used to take 17 weeks was completed in 100 hours.

At the heart of any successful business is its ability to solve problems for its customers. The companies that thrive in this new era are those that are able to reinvent their business: adapting their business models to take advantage of the unique presented by new technologies. Erich Joachimsthaler shares his insights for success.

beginning to see them converge in fascinating and powerful ways. AI and other technologies like IoT, blockchain and cloud computing are enabling digital business models to become more intelligent, adaptive, and efficient, while digital business models are providing fertile ground for the development and implementation of the technologies.

2. Technology together with the business models

Technologies and business models do not succeed alone. History shows that when technologies and new business models come together, major impact happens to industries and categories. When Amazon started and invented eCommerce, it did not succeed until it started the business model of a marketplace. When Google developed its search algorithm, there was Lycos, Yahoo, Overture and others. It was not until Google developed page view, the ranking of sites, that it took off. The iPhone launched in 2007, but its success started with the App Store.

As technologies and digital business models continue to evolve, we are

2. Connection is everything

In today’s world everything is connected and that changes the way companies create value. Value creation today takes place in interactions and network effects, not in the activities or outcomes of the firm that utilizes traditional linear processes. We must shift from competing within walled industries to collaborating across boundaries.

This change into a World of Webs results in demand-side economies of scale with exponential value.

Vivaldi Partners Inc Author of book “The Interaction Field”

ERICH JOACHMISTHALER

Considerations for successful business reinvention

Business reinvention happens when a company or brand reinvents itself with the objective to create exponential new value for customers or consumers and society. There are four things that are necessary for effective business reinvention.

1. Change the core element of the business strategy

Reinvention isn’t about shifting away from the core business and finding new and more attractive growth markets. Instead, it is about embracing the core and making the changes necessary to position a company or brand for the future. As an example, Netflix went from a DVD by mail business into streaming services, without going out of the movie business.

It is extremely challenging to make changes to the core of elements of a business strategy and positioning a company for new fortunes that create value for consumers and society. It´s important to start by defining the field of play and areas or functions that will be impacted and embrace that often something needs to be let go to realise change.

2. Create a business model driven by data, analytics and interactions

A business model is a way of creating value, extracting and capturing the value, and sharing it – not just a plan for generating revenues. Digital business models leverage data, networks and the connectivity of everything. When business reinvention is built on the power of these digital business models, the value created to consumers, partners and society can be exponential.

end technologies that enable new business models and experiences.

4. Do it together

To realise it all, businesses need teams that have the guts to reinvent, with the necessary talents, experiences and skills. This requires a shift from a hierarchical structure of organization to a network of competencies. Rather than relying on hierarchies and on one’s own expertise, leaders should tap into networks across different areas and empower employees who possess greater knowledge and skill sets. AI technologies enable this evolution.

By fostering collaborations between departments, leveraging diverse skill sets and respecting various ways of working, companies can unlock boundless growth potential.

Conclusion

Written by Erich Joachimsthaler & Milja van

3. Ensure your model is technology enabled

There is no question that technology is the major enabler of business reinvention. It can even alter the core business and what you stand for. However, technology is too often used to optimize existing operations, polish a company’s image or bolster a media campaign, like some recent efforts in NFTs, cryptocurrencies and metaverse.

In true reinvention, companies deploy back-end technologies like blockchain to fundamentally change their processes, use data and analytics to enable radically new ways of customer centricity, and use front-

As we look to the future, it’s clear that the convergence of new technologies and digital business models will play a central role in shaping the global economy and society at large. The potential applications and implications are vast and varied and we are only just beginning to scratch the surface of what is possible.

It is critical for businesses to not only adopt new technologies and tools, but also reimagine their business strategies and models, and consider their people and how we organize their work in order to thrive in this rapidly changing business landscape.

How To Boost Radical Innovation In Your Business

Radical innovation can be a powerful catalyst for growth, pushing businesses to new heights and disrupting entire industries. But how can you foster this kind of innovation within your organization?

Understanding Radical Innovation

At its core, radical innovation refers to the development of new products, services, or business models that have the potential to create a significant impact on an industry or market. It typically involves breakthrough technologies and ideas that can transform existing businesses. Unlike incremental innovation, which focuses on making small improvements to existing products or processes,

explore the key components of radical innovation, from understanding its importance to implementing practical strategies that can help you boost radical innovation in your business.

Michelle

radical innovation aims for a much more significant change. Typically, 70% of investments are allocated to core innovation, representing only 10% of long-term returns. Adjacent innovation receives around 20% of the budget and expects a 20% return, while transformational ideas, breakthrough technologies, and new business receive a mere 10% allocation, and expects a 70% return. With these key figures, we can understand why radical innovation is important. However, it is crucial to detach these funds from annual budgets and central headquarters for effective implementation.

Historically, companies operated

under a scalable efficiency model, emphasizing precise, standardized, and tightly integrated tasks. However, a shift is occurring as some companies prioritize learning over efficiency. Rather than hiring know-itall individuals, embracing a learn-it-all philosophy is crucial for adapting to the evolving landscape.

Key Practices of Successful Innovators

To achieve radical innovation, companies can adopt some key practices and principles observed in successful organizations:

• Talent density: Attracting and retaining top talent is essential for driving innovation. Companies should strive to create a culture that attracts the best and brightest minds, providing an environment where employees are encouraged to take risks, learn, and grow.

Linares and Alberto Rodríguez

MICHELLE LINARES ALBERTO RODRIGUEZ

• Cognitive flexibility: Successful innovators are able to think laterally and apply their knowledge and skills across different domains. This cognitive flexibility enables them to see connections and opportunities that others may miss, driving the development of novel solutions and approaches.

• Psychological safety: Creating a culture of psychological safety is critical for fostering innovation. This means encouraging open communication and allowing employees to share ideas and opinions without fear of retribution or embarrassment.

• Anticipation and ambition: To stay ahead of the curve, companies must be ambitious and constantly anticipate future trends and opportunities. This requires a willingness to take risks, experiment, and push the boundaries of what is possible.

Companies can learn from nature’s approach to growth and apply the concept of layering to their innovation strategies. This can involve:

• Protecting the core vision: Just like the nucleus of a cell, the core vision of a company should be protected and nurtured. This is the central purpose that drives the organization and should remain the focus of all innovation efforts.

• Developing core products and services: Companies should continue to develop and refine their core offerings, building on their expertise and leveraging their strengths to maintain competitive advantage.

• Expanding into adjacent services and solutions: To foster growth, companies can explore new services and solutions that complement their core offerings, enhancing the overall customer experience and opening up new revenue streams.

• Embracing external stimuli and learning: Companies must remain open to external ideas, trends, and technologies that can inform their innovation efforts and drive growth. This includes actively engaging with customers, partners, and other stakeholders to stay abreast of emerging opportunities and challenges.

Nature-Inspired Innovation: A Practical Tool for ProblemSolving

Here are some examples of how nature-inspired innovation can be applied across different industries:

Relationships. In nature, cooperation and symbiotic relationships are key to survival and growth. Companies can similarly benefit from forming strategic partnerships and collaborations. By leveraging the strengths and resources of multiple organizations, companies can develop novel solutions and create new market opportunities.

Communication is essential for the survival and success of organisms in nature. Companies can learn from nature’s communication strategies to improve their own internal and external communication processes.

Endurance Nature has developed countless strategies for endurance and resilience in the face of adversity. Companies can adopt similar strategies to build resilience and ensure long-term success, such as developing robust systems, processes, and structures that can withstand external shocks and disruptions.

Adaptation The ability to adapt to changing environments is a key characteristic of successful organisms in nature. Companies must similarly embrace adaptation and change to stay ahead of the competition and capitalize on emerging trends and opportunities. This requires a culture of continuous learning, experimentation, and adaptation.

Lessons from Nature: The Power of Layered Growth

Nature has been evolving for billions of years, perfecting its strategies for survival, growth, and adaptation. One key aspect of natural growth is the concept of layering, where multiple layers of resources, protection, and support are built up to enable the development and survival of living organisms.

Written by Bety Soca ©TheNTWK

OKRs, Measuring Success For Digital Business

In today’s fast-paced business world, it’s essential for organizations to continually evolve and adapt. Jeff Gothelf shares his experiences and insights on how to use a goal-setting framework called Objectives and Key Results (OKRs) to achieve success and build cultures that enable customer centricity and experimentation. Principal at Gothelf Corp Co-author of the award-winning book “Lean UX” Co-author of the Harvard Business Review Press book “Sense & Respond”

JEFF GOTHELF

When it comes to setting goals and measuring success, businesses often find themselves focusing on the wrong things. Rather than concentrating on outcomes, decisionmakers become preoccupied with outputs. This approach can lead to wasted time, resources, and ultimately, a lack of desired results. However, by adopting a mindset focused on outcomes, organizations can align their goals more effectively, change behaviors, and ultimately achieve better results. One of the most powerful tools for creating this mindset is the use of a goal-setting framework called Objectives and Key Results (OKRs). This approach has been around for decades, but it’s gaining more traction in recent years due to its ability to drive growth, innovation, and success.

improvement, as teams are encouraged to experiment and iterate in pursuit of their desired outcomes.

3. Agility: The OKRs provide evidence to justify course correction, enabling you to respond more to the continuous and unpredictable change and uncertainty that’s inherent in our world today.

By implementing OKRs in your organization, you’ll be able to harness these benefits and set your business on the path to success.

Understanding the Basics of OKRs

OKRs stand for Objectives and Key Results. They are a goal-setting framework that helps organizations define their strategic objectives and measure progress towards achieving them. The framework consists of two main components – Objectives and Key Results.

Objectives are qualitative, aspirational statements that describe what the organization wants to achieve - the why. These goals should be aligned with the company’s overall mission and vision and should be inspiring, concrete and time bound, while providing clear value and supporting the high purpose. Objectives are typically set at various levels within an organization, from the company-wide level down to individual teams and employees.

Key Results, on the other hand, are quantitative, measurable outcomes that indicate whether the objectives have been met - the what. These are the metrics that will be used to track progress and determine if the organization is moving in the right direction. Key results should be quantifiable, aggressive yet achievable, and must be verifiable with actual data and evidence.

The Benefits of Implementing OKRs

There are various advantages in implementing OKRs in your business, from focus and alignment to improved decision making. The top three benefits that Jeff highlights are:

1. Experimentation: The framework explicitly demands teams to do discovery work, meaning research, experimentation and interaction with customers to learn whether or not the right problem for the right people is being solved in a meaningful way.

2. Culture: It enables building a culture of customercentricity as the target audience is better known, a culture of empathy by accepting mistakes through experimentation and a culture of continuous

Effective OKRs

Jeff shares his practical tips on how to write and implement effective OKRs.

1. Start with the problem: Before setting objectives, identify the most pressing business problem or challenge that needs to be addressed. This will ensure that your OKRs are focused on real, impactful issues.

2. Turn the problem into a positive objective: Once you’ve identified the problem, transform it into a positive, aspirational statement that outlines what you want to achieve. This will serve as your objective.

3. Ensure your objective changes behavior: Your objective should be a qualitative statement that is inspiring and motivating, clearly showing the target audience and what they will do differently if the objectives are achieved.

4. Enforce Product Discovery: Implement a continuous learning loop to discover user problems and market opportunities, learn from them and respond to the learnings, creating products that address them.

5. Utilise Solution Hypotheses: Use solution hypotheses statements to test your ideas, by writing the idea in a way that reflects the real world doubts, connected to the outcomes and results.

Impact of AI on Digital Business Models

Artificial Intelligence (AI) has been on the radar of businesses and researchers for decades, but recent advancements are now bringing these promising technologies closer to reality. From large language models to innovative applications in various industries, AI is poised to transform the way we live, work, and interact with the world around us.

In an era marked by rapid advancement, adopting a realistic and pragmatic approach is a prerequisite for success. Comprising experts who have navigated AI from its nascent stages as machine learning, the panel presented a comprehensive view of the forthcoming changes.

Independent

Platforms & Ecosystems Consultant nuw.ventures

CHRISTIAN BOETTCHER NUPUR JALAN Consultant (Tax, Finance, Regulatory and legal)

DR. ARNDT SCHWAIGER Entrepreneur, Consultant and Business Angel

ALBERTO SERRANO CTO, Business and Technology Strategist DevCenter

AI’s Evolution: A Deeper Dive into Transformative Aspects

The discourse began by exploring AI’s profound transformations, led predominantly by large language models like ChatGPT. Salesforce’s Senior Director, Miriam Cordero, presented a fascinating perspective, suggesting a paradigm shift in how AI is perceived. She argued that AI is quickly transitioning from being viewed as a competitive advantage to being considered a fundamental business requirement. AI isn’t an option; it’s a necessity that must be integrated into our operations and business model. The assertion emphasizes that businesses need to adopt AI as a core part of their strategy, rather than treating it as a mere tool for gaining an edge over competitors.

box methods to achieve superior results, highlighting the importance of the integration and interaction of different AI techniques to enhance overall performance.

Strategic and Legal Implications: A Closer Look at AI Adoption

Alberto Serrano, CTO at DevCenter. es, urged businesses to adopt a more methodical approach towards the application of AI. He emphasized the role of automation in AI application, suggesting an efficient way to map AI technology to specific business use-cases. His views resonate with the recent development of no-code/lowcode platforms, which are helping businesses of all sizes to leverage AI technologies without needing extensive technical knowledge or resources.

Navigating the Challenges and Opportunities in the AI Landscape

Further extending this conversation, Dr. Arndt Schwaiger, known as an entrepreneur, business angel and advisor to startups and SMBs, painted a vivid picture of the future. He sees major upgrades in voice assistants and chatbots, emphasizing the need to incorporate context more effectively. In his vision, there would be a significant surge in both B2C and B2B services operating via chat or voice. His predictions echo the breakthroughs in AI, such as generative AI models, that have significantly advanced natural language processing and understanding. Moreover, Dr. Schwaiger also underscored the importance of combining AI techniques like white-box and black-

Complementing these technological insights, Nupur Jalan, a consultant in tax, finance, legal and regulatory matters, brought attention to the legal ramifications of AI’s wider adoption. She detailed how AI has been revolutionizing digital business models, improving operational efficiency, enabling personalized marketing, and driving automation. Her insights painted a clear picture of the transformative role of AI in various industries and also underscored the need for addressing legal issues related to consumer protection, bias, discrimination, and intellectual property rights.

The panel discussion went beyond technological advancements and practical strategies to explore the primary value drivers in the existing business models. Despite AI’s rapid evolution, the panelists agreed that current methodologies remain effective. However, they stressed the need for understanding the various types of AI, their pros, and cons for each business case, and the role of data, security, and customer needs in choosing the right AI solution. AI presents immense opportunities, including a shift from traditional product-based business models to service-based offerings and promoting a culture of collaboration and innovation. Yet, challenges such as ensuring data privacy and security, the complexity of “black box” AI models, and ethical considerations cannot be overlooked.

In conclusion, the path to AI’s future is brimming with potential for gamechanging breakthroughs. By staying informed, adopting best practices, and prudently navigating the evolving landscape, businesses can unlock the potential of these powerful technologies and steer innovation for years to come. With each challenge comes an opportunity, and with the right approach, businesses can truly leverage AI to its fullest potential.

Talent, Building The Next Generation Of Digital Leaders

While the demand for digital literacy and adaptability to technology has increased, it’s also crucial to recognize the significance of soft skills in today’s workforce. Alexander Van Vianer, Joana Barbany, Patricia Martinez,

Molpeceres and Anna Cejudo delve into the importance of soft skills, how they can be developed and nurtured, why they are essential to success in the digital age, and the role of educational institutions and companies.

The Skill Landscape: Hard Skills vs. Soft Skills

When hiring, employers often look for a combination of hard skills and soft skills in candidates. Hard skills refer to technical abilities and knowledge, such as coding, data analysis, or language proficiency. On the other hand, soft skills refer to interpersonal and communication skills, such as teamwork, adaptability, and problem-solving.

However, as artificial intelligence (AI) and automation take over many of the technical tasks, the importance of soft skills, or human skills, has become increasingly apparent. According to a study by Deloitte, soft skills are expected to be two-thirds of all jobs by 2030. Experts argue that we should stop referring to these abilities as “soft skills” and instead focus on their human aspect, as these are the skills that set us apart from machines.

The Value of Diversity and Inclusivity

In today’s highly competitive business landscape, it is more important than ever for companies to embrace diversity and inclusivity. This means not only hiring people from different backgrounds and cultures but also valuing the unique skills and perspectives that each individual brings to the table. Statistics show that companies with diverse workforces are more likely to be successful, with one study revealing that businesses with a high level of gender diversity are 15% more likely to outperform their peers.

One crucial aspect of diversity and inclusivity is the recognition and support of neurodivergent individuals, such as those with dyslexia, ADHD, or autism spectrum

disorder. These individuals often possess exceptional skills in areas such as creativity, problem-solving, and data analysis. In order to achieve this, education systems must also adapt and become more inclusive, providing tailored support and learning opportunities for individuals with diverse needs.

Alejandro

IKIGAI Talent Group

ALEXANDER VAN VIANEN JOANA BARBANY

Business Developer Director at Technology by Page Group

PATRICIA MARTINEZ Global Head of Spain and Mexico The CXLAB

ANNA CEJUDO Co-Founder & CPO Founderz

ALEJANDRO MOLPECERES Talent Growth Director at ISDI

The Importance of Lifelong Learning and Adaptability

The ability to adapt and learn new skills is also essential for success. This includes not only the acquisition of new hard skills but also the ongoing development of soft skills. It’s crucial for digital leaders to stay up-to-date with the latest trends and technologies. This means being proactive about seeking out new information, attending industry events, and participating in professional development opportunities. But lifelong learning goes beyond just staying informed – it’s also about having a curious mindset and being open to new ideas and perspectives. By embracing lifelong learning, digital leaders can inspire their team members to do the same, fostering a culture of continuous improvement and innovation.

The Role of Education

While traditional education systems focus primarily on the development of hard skills, it’s crucial that they also incorporate the development of soft skills. This can be achieved through various methods, such as:

• Project-based learning: By working on group projects, students learn the importance of teamwork, communication, and problem-solving.

• Experiential learning: Internships and other handson experiences provide students with opportunities to develop soft skills in real-world settings.

• Emphasizing communication and presentation skills: Incorporating presentations and group discussions into the curriculum help students develop their communication and public speaking abilities.

• Teaching empathy and emotional intelligence: Encouraging students to consider different perspectives and understand the emotions of others fosters empathy and emotional intelligence.

The Role of Companies

Companies have a critical role to play. By emphasizing the importance of soft skills and providing opportunities for growth and development, companies can foster a strong workforce that is capable of thriving in the digital era. Some ways that companies can promote soft skill development include:

• Offering training and development programs focused on soft skills.

• Creating a company culture that values communication, collaboration, and adaptability.

• Implementing employee performance evaluations that assess both hard and soft skills.

• Encouraging employees to participate in industry events and conferences to expand their networks and knowledge.

By investing in the development of their employees’ soft skills, companies can drive innovation, growth, and success in the digital age.

SELECTED INDUSTRY INNOVATION

The articles presented in this unit shed light on the diverse facets and issues of this dynamic realm, emphasizing the potential for innovation, collaboration, and the integration of emerging technologies. Traditional sectors, often seen as mature and established, are proving to be fertile ground for transformative innovation, requiring a shift in mindset and cross-industry collaboration.

By connecting previously unrelated industries, exploring new business models, and addressing regulatory barriers, traditional sectors such as construction and agriculture can unlock new opportunities for societal and environmental progress. Moreover, the energy sector is experiencing a profound shift towards a greener future, facilitated by the convergence of renewable energy, electric vehicles, and blockchain technology. These elements hold the key to overcoming challenges related to intermittency, energy storage, and grid integration, while also empowering consumers and promoting sustainable practices. In the following pages, we delve into the vital takeaways from these articles, highlighting the importance of a people-centric approach, collaborative communities, and the adoption of innovative digital strategies to navigate the changing landscape of digital business models and innovation.

Top 8 Key Takeaways

1Maintaining a peoplecentric approach to innovationn

The success of digital transformation is linked more closely to people’s attitudes, behaviors, and values than to technological advancements.

4The Role of Ecosystems in Healthcare

Companies will not compete against companies, ecosystems will compete against ecosystems, so focus on collaboration instead competition, Align the incentives to change the mindset and focus on the core interaction.

7Building and Nurturing Mobility Ecosystems

We have open source methodologies that can guide the organization in every aspect of this process, accelerating the transformation of ecosystems into mutual value growth and exchange.

Adam Broadway CEO PlatformOS

2Learning not only from best practices but also failures

Transformative innovation requires a deep understanding of people’s needs and is not just about creating new technologies. It requires a shift in mindset to work between sectors, build communities, and prioritize the customer and employee experience.

5Artificial Intelligence: smarter healthcare for a healthier future Past technologies were discriminatory, relying on data biased towards specific groups based on skin color, gender orientation, or geopolitical location. So, it is crucial for AI to be as unbiased as possible.

8Unlocking the Potential of Blockchain for Energy Transition

3Challenges in Digital

Healthcare

Healthcare organizations must work closely with governments, technology companies, and other stakeholders to ensure that digital healthcare solutions are accessible and affordable to all.

6Mobility-as-a-Service (MaaS) platforms

Disruptive platform-based business models for shared mobility serviceshas challenged established providers and prompted automotive manufacturers to explore new business models that cater to evolving customer preferences.

As a decentralized, transparent, and secure digital ledger, blockchain can facilitate the integration of renewable energy sources and EVs into the power grid, as well as enable new business models and services that promote energy efficiency, demand-side management, and consumer empowerment.

“Organizations need to believe that change can be done and that they can unlearn their internal processes, and become themselves catalyst for change.”

Transformative Innovation In Traditional Sectors

Untapped potential for transformative innovation exists in traditional sectors that have been the backbone of economies for decades. By facilitating cross-industry collaboration, embracing people-centric approaches, community building, and learning from both successes and failures, stakeholders can cultivate a culture of innovation that transcends industry boundaries and drives systemic change. This diverse group of panelists, including innovators, entrepreneurs, and policymakers, recently came together to explore this topic.

19N Strategies

Unlocking innovation through cross-industry collaboration

By connecting with other industries and stakeholders, traditional sectors can unlock new opportunities and drive innovation. This cross-industry approach also highlights the need to build strong communities to drive transformative innovation. The key to transformative innovation is to innovate between industries rather than solely within. A great example given is the Swedish mining sector, where companies are now aiming for fossil-free steel. By using bio-residues from pulp and paper or agriculture industries, they create a syngas with similar efficiency to natural gas. This leads to connections between previously unrelated industries, new business models, and regulatory changes.

to the overall growth and success of the collaborating industries.

Maintaining a people-centric approach to innovation

The success of any innovation effort depends on how well it is received and adopted by the people it is meant to serve. This means that understanding the needs and wants of customers, employees, and other stakeholders is critical for transformative innovation in traditional sectors. This human angle emphasizes the importance of putting people at the center of transformation efforts to drive meaningful change, including overcoming regulatory barriers.

Cross-industry innovation allows different industries to share and combine ideas, technologies, and resources, creating new and innovative solutions that are greater than the sum of their parts, hence promoting a 1+1=3 mentality. This approach not only leads to the creation of products and services which resonate more closely with the customer needs but also opens new business models, markets, and revenue opportunities, further contributing

Although digitalization is often perceived as the end goal of modernization endeavors, it’s not. Instead, it should be seen as a powerful tool that can enable companies to accomplish their objectives more effectively. The real challenge, however, is the people, not the technology. As such, the success of digital transformation is linked more closely to people’s attitudes, behaviors, and values than to technological advancements. These are often more challenging than technological changes.

RITA GIMENEZ OCTAVI UYA

MIKAEL ROMAN NATALIA OLSON JEROEN MERCHIERS ADAM BROADWAY CEO Woodea Economic Affairs Officer at UNECE Director Plug and Play Founder Zazume CEO PlatformOS

To bring stakeholders on board, trust must be cultivated with those who believe in the transformative vision. Beginning with people who share your vision and patiently educating them about the initiative’s benefits to establish a stable community of supporters that grows as the initiative progresses.

Fostering a collaborative community for transformative innovation

The process of transformative innovation extends beyond industry boundaries. Building a community is essential, as transformation goes beyond industry; it involves shaping a socio-economic system on a broader scale. Not only this, but the empowerment of the community and providing them with a platform to voice their opinions is crucial when bringing them together. Stakeholders must come together and exchange ideas for constant improvement.

achieving a balance between efficiency and innovation and learning to think outside the box.

Ultimately, to achieve transformative innovation, organizations must change business models, behaviors, and the mindset of the people. This is harder than a technological change. The key is to start with the people who trust your vision because not everyone will be convinced on the first day. The discussion on transformative innovation has taught us that innovation requires a deep understanding of people’s needs and is not just about creating new technologies. It requires a shift in mindset to work between sectors, build communities, and prioritize the customer and employee experience. It is about listening to the needs of the people and learning from our failures to achieve a systemically transformative change. And perhaps what’s most important is to remember that the joint endeavor of multiple industries or entities can generate an outcome that exceeds the sum of their individual contributions. A true 1+1=3 outcome, inspiring us to push boundaries and embrace new realms of opportunity and growth.

Cultivating a culture of innovation

We want to leave you with some food for thought to inspire future discussions. From embracing change to finding a supportive community, keep in mind the key takeaways from the panel discussion that offers insights into how organizations can cultivate a culture of innovation and evolve with the times.

This community of customers, employees, regulators, investors, and other stakeholders can drive transformative innovation. Actively listening to them provides valuable insights. However, transforming an entire industry requires more than incremental improvements. Innovation often comes from “radical outsiders” of an industry. These outsiders can identify new opportunities without being burdened by its history or limitations on exploring alternative options.

Learning not only from best practices but also failures

A final point is the need to learn from failures. And to celebrate them! Transformative innovation is not an easy process, and it requires organizations to take risks and learn from their mistakes, not only from best practices. By learning from past failures, we can continue to drive transformative innovation in traditional sectors. It is about

Written by Frédérique de Lange ©TheNTWK

Want to keep the discussion going? Challenge others to explore further avenues of thought using the following question:

• How can we encourage more cross-sector partnerships in our industries?

• In addition to community building, what else is essential to catalyze transformative innovation?

• How can we encourage more radical outsiders to participate and collaborate with traditional sectors for transformative innovation?

• How can we transform regulation while regulators remain in control?

• How can we decentralize power across industries?

Innovation In The Health Sector, From Ecosystem Mindset To AI Ethics

As we venture into the world of healthcare, it is crucial to understand the impact of digital innovation and how it will shape the future of this industry. The possibilities are endless, and the potential benefits are enormous. But, how exactly will these technologies change the way healthcare is delivered? What challenges and opportunities lie ahead?

Challenges in Digital Healthcare

• Illiteracy & Adoption: Education and training are crucial to ensuring the successful adoption of new technologies and innovations within digital healthcare. This includes not only training medical professionals and healthcare providers, but also educating patients and the general public about the benefits and potential risks associated with these innovations.

• Digital Divide: This could result in inequalities in healthcare access and outcomes. To bridge this gap, healthcare organizations must work closely with governments, technology companies, and other stakeholders to ensure that digital healthcare solutions are accessible and affordable to all.

• Data Privacy & Security: As healthcare becomes increasingly digital, the risk of data breaches and cyberattacks grows, posing a threat to patient privacy and trust. Healthcare organizations must invest in robust cybersecurity measures and ensure that patients are well-informed about how their data is being used and protected.

The Role of Ecosystems

• Collaboration instead of competition: It requires a new leadership mindset to work with the entire healthcare ecosystem. Those organizations that will embrace an ecosystems mindset and elevate collaboration to the next level will create a competitive advantage and win the market. It is vital to remember

that companies will not compete against companies, ecosystems will compete against ecosystems, especially in healthcare.

• Align the incentives to change the mindset: But, as with any ambitious endeavor, fostering healthcare ecosystems also comes with its fair share of challenges. One of the most significant barriers is the need for alignment and trust among stakeholders. In many cases, the various players within the ecosystem may have conflicting interests, priorities, and incentives, making it difficult for them to work together effectively. Additionally, issues like corruption, lack of transparency, and bureaucratic red tape can further hinder the smooth functioning of ecosystems.

• Focusing on the core interactions: For a healthcare ecosystem to be successful, focusing on the core interactions between stakeholders is key, and gradually expanding the ecosystem to include more players and areas of expertise. This requires strong leadership and vision, as well as a willingness to adapt and evolve as the ecosystem grows. It is also essential to create an environment of trust and transparency, where all stakeholders feel that their interests and concerns are being taken into account.

In this session moderated by Cristina Spa; Orlando Vergara, Josep Carbo, Neema Balolebwami Nelly, Gemma Malla and Simone Cicero delve deep into these questions.

Bluebarna Ecosystems

ORLANDO VERGARA CRISTINA SPA JOSEP CARBÓ NEEMA B. NELLY SIMONE CICERO GEMMA MALLA

CEO Boundaryless Head D. Iberia ANGELINI PHARMA

Artificial Intelligence (AI): Smarter healthcare for a healthier future

Artificial Intelligence (AI) is another game-changer in the healthcare landscape, with the potential to revolutionize diagnosis, treatment, and patient care. AI can analyze vast amounts of medical data and provide insights that can help healthcare providers make more informed decisions.

However, as mentioned before, improper data usage can affect the patient in other areas of its life. In that sense, it’s essential to perceive AI as a tool aiding doctors in identification and diagnosis, a technology serving clinicians, doctors, nurses, and therapists. Because, at the end, healthcare is inherently human-centered.

On the other hand, the ethical considerations of AI are paramount. It is crucial for AI to be as unbiased as possible. Past technologies were discriminatory, relying on data biased towards specific groups based on skin color, gender orientation, or geopolitical location.

Looking ahead: The future of healthcare in the digital age

So, what does the future of healthcare look like in the digital age? As digital innovation continues to advance, we can expect healthcare to become more personalized, efficient, and accessible. We must rely on technologies we did not have ten years ago to make a leap forward in the management of our health.

However, the future of healthcare will not be solely defined by technology. As mentioned earlier, healthcare is, at its core, a human endeavor. We need to understand the patient’s unmet needs in the patient journey and see how we can leverage new technologies to solve them in a way we could have never imagined in the past.

As we look ahead, the challenge will be to harness the power of digital innovation while ensuring that healthcare remains grounded in human empathy and understanding. While AI and other digital innovations will undoubtedly play a crucial role in shaping the future of healthcare, in a way we cannot even project: we had never spoken about ChatGTP a year ago, and now it’s in every conversation. The key is to remain open and curious about the potential of new digital technologies with the human touch as an essential component.

Gemma Malla

Mobility Redesign, A Fast Drive Toward Digital

A mobility ecosystem is a structured collaborative network of interconnected stakeholders, including vehicle manufacturers, service providers, infrastructure providers, government bodies, and end-users. Digital platform business models are boosting collaboration and enabling a redesign to improve the end-user experience.

As demands and expectations of mobility users are developing, the automotive industry undergoes a massive transformation fueled by digitalization, electrification, and shared mobility. It has become increasingly clear that embracing complexity and change is the key to survival. In this detailed exploration of mobility ecosystems and personalization, we will dive deep into the challenges and opportunities for the mobility ecosystem players, as well as the innovative strategies being employed to ensure long-term success.

ecosystem is constantly evolving and expanding, as new players and technologies emerge to disrupt the status quo. The rapid pace of change, driven by digitalization, has forced mobility stakeholders to rethink their approach and adapt to new market realities.

For instance, the rise of electric vehicles (EVs) has created a whole new set of challenges and opportunities for automotive manufacturers and infrastructure providers alike. As EV adoption continues to grow, so does the need for a robust charging infrastructure. This has led to increased collaboration between OEMs, utility companies, and government bodies to ensure that charging infrastructure keeps pace with the demand.

models for shared mobility services (ride-hailing, car-sharing, and micro mobility) has challenged established providers and prompted automotive manufacturers to explore new business models that cater to evolving customer preferences. In many cases, this has involved a shift away from the traditional focus on vehicle ownership towards more flexible, service-oriented offerings, such as subscription-based models and mobility-as-a-service (MaaS) platforms.

Understanding Mobility Ecosystems

A mobility ecosystem can be defined as a complex network of interconnected stakeholders, including vehicle manufacturers, service providers, infrastructure providers, government bodies, and end-users. This

Similarly, the growing popularity of disruptive platform-based business

What we learned so far, is that complex challenges like “shifting mobility to EVs” require complex strategies. Entities and organizations cannot thrive on their own anymore. They are responsible for releasing new products, new services, and for that they require enabling and empowering services, modules, assets, infrastructure, so that the possibility of success is maximized. EVs without charging infrastructure are pointless: but also thinking of re-wiring an entire continent in a few years is not feasible. Thus, enabling even single individuals to take responsibility and engage in entrepreneurial actions to provide solutions at micro-community level through platform strategies, can be the key to game changing.

Business BASF Coatings

OLIVER BIRK JOOST D’HOOGHE Vice President EMEA Nexeo Plastics

CAROLINE ERIZE

Corporate Developer Porsche Digital

LUCA RUGGERI

Head of Platform Business Model Innovation Unit Boundaryless

JAUME FERRE CTO Wallbox

Embracing Personalization and Flexibility

One of the key trends driving change in the automotive industry is the increasing demand for personalized, flexible mobility solutions that cater to individual needs and preferences. Consumers today expect a seamless, convenient, and tailored experience, whether they are purchasing a vehicle, accessing a ride-hailing service, or renting an e-scooter.

For automotive manufacturers and their suppliers, this has meant rethinking their approach to product design and development. Traditional “one-size-fits-all” vehicle offerings are no longer sufficient, as customers seek out vehicles that cater to their specific requirements, be it range, performance, size, or functionality. This has led to a greater emphasis on modularity and customization, allowing customers to choose and pay for only the features and services they require.

On the services side, there is a growing recognition that a single, monolithic mobility solution may not be the most effective or efficient way to cater to diverse user needs. Instead, a more flexible, modular approach is required, where consumers can select from a range of different mobility services and options, depending on their specific needs at any given time. This may involve subscribing to a car-sharing service for day-to-day commuting while also having access to a larger, more luxurious vehicle for special occasions or long-distance trips, without the need for outright ownership.

Building and Nurturing Mobility Ecosystems

As the mobility landscape evolves, so too must the ecosystems that support it. This involves not only fostering collaboration between traditional automotive stakeholders, but also embracing new entrants and technologies that can drive innovation and growth. For example, the rise of EVs has brought tech giants such as Tesla, Google, and Apple into the automotive fold, while the growing popularity of shared mobility services has seen the likes of Uber, DiDi, Lyft, and Lime emerge as major players in the space.

Building and nurturing a successful mobility ecosystem requires a deep understanding of the unique challenges and opportunities within a given market, as well as a willingness to experiment and adapt. For instance, the EV adoption landscape in India looks very different from that in the US or Europe, with unique challenges related to infrastructure, grid stability, and customer preferences. By adopting a tailored, market-specific approach, stakeholders can ensure that they are addressing the needs and expectations of their customers, while also fostering a competitive, innovative, and sustainable ecosystem.

And, more importantly, these “market sensing” activities shouldn’t be improvised or executed heroically: nowadays, we have open source methodologies that can guide the organization in every aspect of this process, accelerating the transformation of ecosystems into mutual value growth and exchange.

Written by Oliver Birk ©TheNTWK

POWERful Digital Transformation For The Energy Transition

The energy sector is undergoing a significant transformation as it moves towards a greener, more sustainable future. An insightful roundtable moderated by Alejandro Sanchez shed more light on this topic. Participants included Lluisa Marsal, Eduard Castañeda, Alex Rosch and Stephan Fester.

Unlocking the Potential of Distributed Renewable Energy, Electric Vehicles and Blockchain for Energy Transition

At the heart of this change are three key pillars: renewables, electric vehicles, and blockchain technology. By leveraging the strengths of each of these elements, we can address some of the key challenges facing the energy sector, such as the intermittency of renewable energy sources, the need for energy storage, and the integration of distributed energy resources into the power grid.

Moreover, this confluence can also pave the way for new business models and services that promote energy efficiency, demand-side management, and consumer empowerment, ultimately driving a cleaner, more resilient, and more inclusive energy future.

The intermittent nature of renewable energy is a challenge to their largescale integration into the power grid This is because the supply of solar and wind power is dependent on weather conditions and other factors, making it difficult to guarantee a consistent,

reliable supply of energy. This issue can be addressed through the use of energy storage systems, such as batteries, which can store excess energy produced during periods of high renewable generation and release it when needed.

Electric vehicles (EVs) have emerged as another key element in the push towards a more sustainable and decarbonized energy system. The widespread adoption of EVs has the potential to significantly reduce the carbon footprint of the transportation sector - currently 14% of the global GHG emissions. However, more importantly, EVs can also play a crucial role in the wider energy transition by acting as energy storage units that help balance energy supply and demand.

When connected to the grid, EVs can store excess renewable energy during periods of high generation and release it back into the grid when needed, a process known as vehicleto-grid technology. This not only helps to address the intermittency issue associated with renewables, but also has the potential to reduce the overall cost of energy for consumers by allowing them to self consume the energy stored and potentially sell excess back to the grid at peak times.

The reuse of batteries will help avoid having to make a trade-off. Regulations and industry standard policies are also working in enabling and accelerating best practices of battery reuse.

Innovahub by Naturgy

ALEJANDRO SANCHEZ

ALEXANDER RÖSCH

Lead Ecosystem Expert Hub PwC Germany

LLUISA MARSAL Energy Node Lead Centre Blockchain de Catalunya

EDUARD CASTAÑEDA Chief Innovation Officer at Wallbox

STEPHAN FESTER

Co-Lead SAP Circular Manufacturing Practice

The role of blockchain in the energy transition lies with the potential of the technology to transform the way energy is produced, distributed, and consumed. As a decentralized, transparent, and secure digital ledger, blockchain can facilitate the integration of renewable energy sources and EVs into the power grid, as well as enable new business models and services that promote energy efficiency, demand-side management, and consumer empowerment.

• One of the key applications of blockchain technology in the energy sector is the creation of decentralized energy

markets, where consumers (also, prosumers) can buy and sell energy directly with one another, without the need for intermediaries. Tokenisation of the load displacement can incentivise the consumers and prosumers to act in ways that lead to greater efficiency, as energy can be traded and consumed locally, lowering the pressure on the grids, hence reducing transmission losses and infrastructure costs.

• It can also empower the consumers - individuals and legal entities - to become more active participants in the energy system, for instance, through gross market representatives, peer-to-peer marketplaces, and management of multi energy services.

However, there are a number of challenges that need to be overcome for blockchain technology to reach its full potential in promoting the energy transition in Europe, particularly on the side of the consumers.

Unlike in Asia or Australia, the national, centralised distribution networks in most European countries can also limit the connection points, where the consumers can inject energy back to the grid.

MASTERMIND STARTUP PITCHING & COACHING

Problem

Oratrex solves three problems: event ticket’s scam, event promoter’s lack of control over the ticketing secondary market, and difficulty for event sponsors to reach the attendees’ profiles because of personal data protection laws.

Solution

Oratrex replaces the PDF received when purchasing tickets and transforms them into unique and unforgeable digital assets, which can be exchanged in a secure environment always controlled by the event promoter. As a result, ticket owner stops being mere numbers to unique individuals with profile, who not only pay to attend their idol’s events but who deserves

Problem

Problem

Quality and quantity of the EU’s forested area to reach climate neutrality, effective afforestation & forest preservation and restoration, land owners don’t have enough incentives to plant more trees or manage existing forest better, and value of standing trees.

Solution

We connect forest owners with clients in need of carbon offsetting solutions based on blockchain platform. Our platform is safe and fully transparent from locating the actual forests to acquiring their NFTs and CO2 tokens (ZCO2). We provide the extensive information about the forest ownership and the value of ZCO2 based on a very precise mathematic formulas that are related to the GPS information of every single tree and its capacity to capture CO2.

Artist’s royalties distribution is unfair and the majority of artists don’t make money out of the digital streaming platforms.

Solution

GUZZU is a Web3 scalable solution that brings Digital Merchandising to the music industry through NFTs and an artist launchpad, making it possible to engage with rising digital communities and allowing creators to have an additional revenue stream. Digital Merchandising offers a new and sustainable format fostering creative expression and empowering storytelling.

ARNAU SABATÉ CEO & Co-founder GUZZU guzzu.io

#B2B2C #NFTs

PACO CONDE Co-founder & Business Dev. ZertiCarbon zerticarbon.com

#B2B #blockchain

JOSE BLASCO CEO & Co-founder ORATREX oratrex.com

#B2B #NFTs

Problem

Except for the red carpet moment, members of a winning team can’t show off their trophy or use it to advance their career in any meaningful way.

Solution

Non-Fungible Trophies is a product invented on the back of NFT technology. These digital trophies are the best way of recognizing individual members of a winning team in an advertising or entertainment industry competition, with an award that is meaningful, useful, and exciting to receive.

Problem

Modern life is busy, and we have less time for self-care when we need it the most

Solution

On the Glow is a beauty & wellness platform that provides premium treatments directly to the customer’s doorstep, on-demand. Our goal is to makes self-care effortless by adapting to your schedule, and coming to you.

Problem

Brands lack an efficient solution to achieve circular commerce goals, resulting in a struggle to extend their products’ lifespan and integrate sustainable practices in their operations.

Solution

Menddie enables brands to achieve circularity and sustainability targets by creating seamless customer experiences for services like care, repair, resale, and rental of clothes and accessories. They offer a dedicated personalized service to brands in extending product lifespans and provide a hassle-free service layer across all customer touchpoints.

RIIKKA OLLI CEO Menddie menddie.com

#Circularity #B2C

IRENE CROCKER CEO & Founder On The Glow ontheglow.es

#B2C #beauty

EZEQUIEL TRIVINO

Marketing Department Specialist Non-Fungible Trophies nonfungibletrophies.co

#B2B #B2C #NFTs

NFT Award

Last year, we introduced a dynamic NFT for NTWKers who co-create reports, post articles, participate in #TheNTWKTalks, and engage in the community. This year, we’re excited to announce that the winner for a FREE ticket for TheNTWKSummit23 has been our NTWKer.

SERGIO GELLIDA

/IMAGINE From Canvas to Code and Back

The art in all its forms is a fundamental part of our DNA, and we intend to use it as a transformative element within the “moments” we design.

/Imagine: From Canvas to Code and Back was conceived with this objective: a collaborative installation between all members of TheNTWK community and Midjourney, led by the Spanish painter Pedro Pasquín.

The result was an integration of the 2m x 2m physical work and the prompts and images that participants made in Midjourney, obtaining a dynamic NFT that participants will be able to claim throughout the year.

For this installation we chose to see AI as an extension of our creative horizon and explore the possibility that interaction between human artists and AI brings. We chose to draw inspiration and learn from all the voices that use AI as a complement to human creativity, leveraging TheNTWK’s core strengths: community, collaboration and innovation.

- La Impopular

Improvement Southern Europe at XPO Logistics

TheNTWK NFT

And finally, here is our dynamic NFT for this year. Ready to engage?

INSIGHTS

LEADING PARTNERS

Network Effects

Chicken or Egg

Job To Be Done

We are already working on the next edition. Do you want to be an Sponsor or Speaker?

Flywheel

SPECIAL THANKS TO...

This TheNTWK Summit 2023 Report was co-written using Unifire.ai, by:

Marta Agrech - CEO of IVY

Shuhrat Ashurov - Co-founder & CCO at randevu.tech

Oliver Birk - Director Platform Business Automotive Refinish Coatings at BASF

Dr. Martha Boeckenfeld - Dean & Partner, Thought Leader & Advisor at Metaverse Academy

Christian Boettcher - Independent Platforms & Ecosystems Consultant at nuw.ventures

Fleur Boos - Founder of The Value Department

Tommaso Buganza - Full Professor at Politecnico di Milano

Bob Gravestijn - Strategic Advisor at The Value Department

Lukas Held - Innovation Consultant & Associate at PwC Germany

Pol Jimenez - TheNTWK

Erich Joachimsthaler - Founder & CEO of Vivaldi Group

Julian Kawohl - Professor of Strategic Management and Founder of Ecosystemizer

Frédérique de Lange - Sustainable Business Booster at The Value Department

Katrin Maikova - Business Development Manager at TheNTWK

Anna Noakes Schulze - Head of Community Experience at TheNTWK

Alex Pesjak - VP Europe at McFadyen Digital Phuong Pham - Experienced Research Analyst

Marina Planas - Co-founder & CEO at TheNTWK

Alexander Rösch - Lead PwC Ecosystem Expert Hub at PwC Germany

Catherine Schoendorff - CEO at DIVVA The Smart Digital Consultancy

Roksana Siewiorek - Innovation Consultant & Associate at PwC Germany

Sameer Singh - Creator of Breadcrumb.vc

Bety Soca - Full Stack & Product Owner at TheNTWK

Daniel Trabucchi - Senior Assistant Professor at Politecnico di Milano

Milja Van’t Noordende - Head of Growth & Partner at TheNTWK

Unifire.ai - Founded by Maximilian Gutsche & Yassine Rajallah

Special thanks to Bety Soca for her extraordinary contribution to #TheNTWKSummit23 with her effort, ability and creativity to make the best event, and for also compiling, editing, and designing this report. Her dedication and expertise have truly elevated the quality of our initiatives, creating an unforgettable experience for all participants.”

Marina Planas CEO & Co-Founder TheNTWK

REFERENCES

Fig. 1 - Source: “Europe’s diverse and growing number of platforms“ | ©Peter C. Evans, McFadyen Digital, 2023

Fig. 2 - Source: “Timeline of corporate venture investment in marketplaces“ | ©Peter C. Evans, McFadyen Digital, 2023

Fig. 3 - Source: “Pivotal Trends and Predictions in B2B Digital Commerce in 2023” | commercetools, 2023 | https:// commercetools.com/resources/whitepaper/pivotal-trends-and-predictions-in-b2b-digital-commerce-in-2023

Fig. 4 - Source: Sameer Singh, TheNTWK Summit 2023

Fig. 5 - Source: Sameer Singh, TheNTWK Summit 2023

Fig. 6. Source: Copyright, Simon Torrance 2020. www.Simon-Torrance.com | https://www.the-ntwk.com/post/digitalbusiness-model-archetypes

Fig. 7 - Source: “Platform Thinking - Read the past. Write the future.” | Daniel Trabucchi and Tommaso Buganza, 2023

Fig. 8 - Source: “2023 Community Industry Trends Report” | CMX Hub, 2023 | https://www.cmxhub.com/communityindustry-report

Fig. 9 - Source: Ecosystem Strategy Map for an exemplary Automotve OEM (illustrative) | Ecosystemizer

Fig. 10 - Source: Ecosystem Design Grid example | Ecosystemizer

Fig. 11 - Source: ©Alex Pesjak, McFadyen Digital, 2023

Fig. 12 - Source: “Phygital Retail (And How It Is) Reinventing Retail Customer Engagement In India” | https://www. capillarytech.com/blog/capillary/phygital-retail-and-how-it-is-reinventing-retail-customer-engagement-in-india/

Fig. 13 - Source: “Linking the concepts, inspired by Diego Borgo” | Milja van ´t Noordende

Fig. 14 - Source: www.hyperreal.io

Fig. 15 - Source: “Collaboration Space” | METAHYPE by Cupra

Fig. 16 - Source: “Digital Twins: Smart Digital Reality” | Hexagon

Fig. 17 - Source: “Marthaverse” during TheNTWK Summit 2023 | http://www.spatial.io/s/MarthaVerse

Fig. 18 - Source: “Starbucks Odissey”

Fig. 19 - Source: “Digital platforms for sustainability purposes” | Marta Agrech, 2023

Fig. 20 - Source: “Steps we can take to promote sustainability in a more eco-friendly world” | Marta Agrech, 2023

Fig. 21 - Source: www.luciahernandez.co

Fig. 22 - Source: www.luciahernandez.co

Fig. 23 - Source: www.sdgs.un.org

Fig. 24 - Source: Adapted from WEF Guidelines for Improving Blockchain’s ESG Impact

Fig. 25 - Source: “Future of Jobs Report 2020” | World Economic Forum | https://www.weforum.org/reports/the-futureof-jobs-report-2020/

Fig. 26 - Source: Erich Joachimsthaler | Vivaldi Partners Inc, 2023

Fig. 27 - Source: @JBOOGIE | www.jeffgothelf.com

Fig. 28 - Source: Harvard Business Review

Fig. 29 - Source: ©TheCUBE, 2023

Fig. 30 - Source: “Global Life Sciences Outlook” | Deloitte España, 2022 | https://www2.deloitte.com/es/es/pages/lifesciences-and-healthcare/articles/global-life-sciences-outlook.html#:~:text=2022%20Global%20Life%20Sciences%20 Outlook%20Un%20proceso%20de,la%20digitalizaci%C3%B3n%20y%20la%20transformaci%C3%B3n%20a%20 medio%20plazo.

Fig. 31 - Source: “Chapter 5: The emerging mobility ecosystem” | KPMG in the UK | https://kpmg.com/uk/en/home/ insights/2019/06/chapter-5-the-emerging-mobility-ecosystem.html

Fig. 32 - Source: “Second-life EV batteries: The newest value pool in energy storage” | McKinsey Analysis, 2019 | https:// www.mckinsey.com/industries/automotive-and-assembly/our-insights/second-life-ev-batteries-the-newest-value-poolin-energy-storage