Parallel Session 8 - Innovation and Incubation

75% of S & P companies will be replaced by new firms by 2027. Innovation for big enterprise is no longer an option, it is a must. The world is changing very fast, and innovation is becoming more difficult, especially for those corporates which are still reacting slow to digital distribution. Fortunately, the open innovation mode is rising in the global range, and some international giants have led and promoted the development of the open innovation and ecological system. This presentation will analyze what are the key pain points of the big enterprises, and show what innovation models are suitable for big enterprises and what roles should big enterprise, start-ups and accelerators play in the whole innovation ecosystem. The speaker will also talk about his experiences of accelerating innovation for big enterprises in China.

Financial technology promises to bring improvements to many areas in banking and finance, including payment, deposit, and wealth management. How will traditional financial institutions and technology companies respond to these opportunities? What challenges will they face? How should they work with regulators and how should they gain the trust of the public?

CYDA (Craft Your Daily Adventure) is a mobile application that aims to re-energize the daily lives of retired elders, as statistics reveals this population group comprises with a significant proportion of solitary elderly suffering from mental depression. While our backend is complemented by sophisticated technologies, the idea itself is simple and understandable. Elders first use voice-to-text recognition to record daily activities, the content is then digitalized into a virtual diary book. Elderly are therefore encouraged to expand their social network by growing their virtual community and sharing their one-and-only journeys. Besides, the project also serves the goals to synergise data-driven policies and offer more instant support from professionals to support the needs of the seniors.