Innovation Strategies from the Smaller-Scale Companies and Leaders of 2020 (Part 4 of 4)
Innovation Technology

Innovation Strategies from the Smaller-Scale Companies and Leaders of 2020 (Part 4 of 4)

Sometimes, it’s hard to know where to start with innovation. You might want to make new ideas, while also incubating existing ones, while continuing current processes and routines uninterrupted, and so on. A good thing to do in this time is to see what the giants in all fields are doing because, after all, there’s a reason they’re giants.This article is the fourth and final part of a four-part series where we will delve into this topic. The first two parts were focused on the biggest companies in the world, and these next two are focused on smaller and lesser-known companies. So, without further ado, here are 4 more of the most innovative leaders and smaller-scale companies of 2020 so far, and what you and your organization can learn from them:

5. AirGarage

From AirGarage, we learn to Forget Everything You Know and Rethink it from the Ground Up. One thing we all think is a lost cause is parking. As the population increases and our Earth isn't getting any bigger, we’ve just shrugged and accepted that parking and traffic are going to balloon to more and more impossible levels and there’s nothing much you can do about that. But AirGarage is different. They’re working on reclaiming 30% of parking space in American cities by automating the operation of parking lots and enabling businesses to rent out their parking spaces.

Similarly, we must also not take anything as set in stone. Everything can be revolutionized, you just have to find the way in.

Credit: Airgarage

6.  Dave – Banking For Humans

From Dave – Banking for Humans, we learn to simplify to the extreme. Banking is complicated. That’s why Dave set out on a mission to simplify it for the 99%, not the 1%, with cash advances with no interest, income creation, and checks that are verified and will not bounce. And it’s a massive success.

Similarly, we must simplify as much as possible. We might have the most advanced, versatile tool in the world, but if it has 327 menus and 239 sections and 8,348 settings, then nobody’s ever going to be able to figure out how to use it.

Credit: Dave.com

7. Spatial

From Spatial, we learn to focus on future trends. Spatial is a company focused on making new advances in AR (Augmented Reality). This is going to be a very big trend in the future and will apply across many areas, not just entertainment. It can even apply for making virtual hangouts better or adding a whole new dimension to working remotely.

Always make sure to keep a watchful eye on what new and emerging trends are coming up, not just in your space but overall as well. You never know what can interact with your space. Technologies such as AI/Machine Learning, AR, VR, blockchain, etc. are going to revoloutionize the world in unprecedented ways.

8. PatientPop

From PatientPop, we learn to develop for everyone. PatientPop develops healthcare solutions keeping in mind all patients, including those with preexisting conditions or comorbidities which are generally marginalised by traditional insurance and healthcare companies.

This may be the most important and fundamental lesson out of this whole series, because in the end we are all part of just one collective – humanity. And we need to remember to be mindful and inclusive of everyone, starting from the very bottom such as making your site fully compatible with a screenreader for individuals who are blind or able to be easily navigated by just key commands for people who may be paraplegic and using eye-tracking cursors.

These are four more of the most important lessons we’ve learned so far this year from the smaller companies.

In total, this makes sixteen lessons we’ve learned from both big and small companies. We hope you enjoyed this series and let us know if you want to see more like this!

Here’s a quick recap of all 16 lessons:

1. Elon Musk – Be Bold

2. Apple – Do Good

3. Microsoft – Take a Leap of Faith

4. Asus – Enter New Worlds

5. Alphabet – Leverage AI

6. Uber –  Adapt

7. Facebook – Revisit Old Ideas

8. Huawei – Come Back Stronger and Build Back Better

9. Dunzo – Be Proactive, not Reactive

10.  Brigade Enterprises – Always Go Digital, No Matter What

11.Aashirvad Atta – Join Hands and Collaborate

12. Metro Wholesale – Focus on the Bare Essentials

13. AirGarage – Forget Everything You Know and Rethink it from the Ground Up

14. Dave - Banking For Humans – Simplify to the Extreme

16. PatientPop – Develop for Everyone

What did you think? Do you have any more? And what do you think the rest of 2020 holds for us and what we might learn from it? Let us know your thoughts in the comments below and also let us know which one of these was your favorite!