Ian Pearson MP, Minister of State for Science and Innovation will make a key note address as NESTA, Innovaro and Oracle formally launch the Open Alchemyproject.

The programme is a fresh approach to developing new products with suppliers, opening up the process using the principles of corporate open innovation. It is an exercise in collaboration featuring some of the UK’s most high-profile corporates, united by a desire to be one step ahead of fast-moving technology markets.

Join us for a panel discussion as representatives from BT, BBC, BP, Pfizer, Innavaro and Arup debate the state of supplier led innovation and discuss its development for the future; Richard Halkett, Executive Director, Policy and Research, NESTA will chair.

To find out more and to take part in the conversation, please join us at this event for what we are sure will be a stimulating and thought-provoking discussion.

Registration from 5.30pm with presentations to start promptly at 6.00pm; a networking reception will follow until 8.00pm

Background – What is Supplier Led Innovation?

Supplier-led innovation (also known as supplier innovation and supply chain innovation) is the sourcing of novel ideas from a company’s supply chain. For example, rather than buy components ‘off the shelf’, an automotive manufacturer may ask for innovation from suppliers in order to produce equipment that is unique or more advanced, or processes that are more efficient. 

 So what’s the problem?

Because suppliers are largely judged by how cheap they are for supplying existing products rather than what value they can deliver through innovation, they are too rarely empowered , resourced or expected to innovate. This can also be true in the public sector as a result of procurement practices and the hurdles that suppliers encounter in marketing to this customer.

What’s the answer?

If the UK can show the way to a different dynamic where suppliers have more influence over the relationship with customers, this would liberate much innovative thinking to our economic. Open Alchemy provides one model of how this could be achieved, focusing on Oracle as the example supplier and a dozen high profile corporates as the customers.