WeDo Runs Risk Analytics Innovation Contest

Do you have a brilliant idea for how to use data analytics to improve risk management? Then Portuguese vendor WeDo wants to hear from you. Because they are running a contest to see who has the best idea. You have until April 2nd to tell WeDo your idea. Anyone with a pretty brilliant idea will win flights and accommodation for a three day stay in Lisbon between the 9th and 11th of May. It is not clear if finalists have to spend the whole three days at WeDo’s Worldwide User Group, which is taking place at that time, but presumably they will have to show up for some of it, in order to pitch the idea to the competition judges. The person who impresses the judges with the most brilliant idea will win Amazon gift cards worth EUR5,000 (USD6,200).

I never heard of any other vendor running a contest like this. In fact, I never heard that WeDo ran a similar contest in 2016. But both the 2016 winners worked for WeDo, so perhaps they did not invite entries from outside of the business. This year they are definitely open to submissions from anyone; the rules say that the only people not permitted to enter are the judges.

It seems there are not many limits to what counts as an idea. They say it is…

…a competition organized by WeDo Technologies to encourage new business ideas, products and M&As

M&As? So if you fancy selling your business to WeDo then this might be your chance. You will not only get the purchase price of your business but Amazon vouchers too.

These are the kinds of ideas that WeDo are looking for:

  1. It needs to be telecom focused.
  2. It should address the issues of risk management and/or data analytics. Suggested topics include:
    • Blockchain, Crowdsourcing, RPA (Robotic process automation)
    • General Data Protection Regulation (GDPR), Digital Profiling
    • 5G, Software-Defined Networking (SDN) and Network Function Virtualization (NFV), IOT (Internet of things)
    • Signaling, DPI (Deep Pack Inspection), IP Security
    • Advanced Analytics, ML (Machine Learning)
    • Customer Experience, Customer Journey
  3. It should have market potential.
  4. There should be a broad sense of execution feasibility. This could mean an idea of required investment, potential proof of concept customer/partner or technology re-use/new development.
  5. And of course, it should be creative and demonstrate a unique approach. Wow us!

Every fortnight I receive a phone call from somebody wanting to tell me about their brilliant ideas. And not every phone call is from the same person. Invariably I say I do not want to hear about brilliant ideas because I do not know what to do about my own brilliant ideas, so I have no time for anyone else’s brilliant ideas. So now you know what to do with your brilliant ideas: stop phoning me and tell WeDo instead.

You can learn more about the WeDo Open Innovation Contest from here. To enter you should complete the form here.

Eric Priezkalns
Eric Priezkalns
Eric is the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Chief Executive of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.