Development of Innovative Ecosystems
Unlock long-term business success with Brunei Innovation Lab as they aim to bring together digital champions and technopreneurs to develop a sustainable economy.
Every business founder’s dream is for their business to rise to the top, make its name ring across every screen, and make its brand name famous across the world. This brings into focus the idea of ‘sustainability’, which is just that - making a business sustain itself for the long term. Enter innovation labs - entire subsections of companies that focus purely on constant growth, new and fresh ideas and services, and knowledge of current trends because businesses understand that without sustainability, there can be no longevity.
Now a more detailed, but still general overview of what an innovation lab is supposed to do. Innovation labs are basically inventors; they are responsible for creating brand new ideas (usually for companies), executing them and being responsible for its growth until it is self-sustainable and/or fully integrated with the company it was made for. It is safe to say that innovation labs are gathering hubs for experts and resources in given fields to bounce off creative ideas. Therefore, there is a great advantage for anyone seeking guidance in those areas, as they would also have access to funding and mentorship from the widespread network that the innovation lab provides.
Currently, as the world heads into the digital era, nations around the world, including Brunei, are pushing for technological advancements and are striving to enhance the ICT sector with the promotion for the public to consider becoming technoprenuers, or techpreneurs, as these are the very definitions of modern and current market trends. We are already seeing a lot of MSMEs that are making the use of technology in new and improved ways - and now we need to raise experts who are able to use that service as a business model. In Brunei, there has been a national innovation lab set up for the betterment of the nation, and its purpose, as stated in their vision to be: “... a core national platform for the development of an innovation ecosystem and community to produce digital champions and technopreneurs to lead a vibrant and sustainable economy of Brunei Darussalam.”
There are 10 focus areas of the Brunei Innovation Lab (BIL) which are the following:
Artificial Intelligence
Getting computers to analyse data and respond accordingly, and the big name at the moment is OpenAI.
Digital Twinning
Making a digital or virtual copy of an existing physical asset for the purposes of simulations, testing, monitoring, etc.
Internet of Things (IoT)
The linking of physical devices over a network. An up and coming example which is also slowly being normalised in Brunei, is the implementation of a 'smart home'.
Cybersecurity
Applications of technologies or solutions to protect agains data breaches and keep data networks secure.
Additive Manufacturing
More commonly known as 3D printing. Some small-scale businesses in Brunei are specialising in this form of production.
Robotics & Automation
Machineries in the agricultural sector are being automated to be faster and more efficient to deal with large quantities of harvesting, sowing and weeding.
Blockchain
Successful implementation of blockchain technology in operations provides greater transparency and efficiency.
Cloud Computing
Data storage or computing over a shared system.
Data Analytics
The process of inspecting, cleansing, transforming and modeling data witht he goal of discovering useful information, informing conclusions and supporting deciison-making.
Augmented & Virtual Reality
Research and development of virtual spaces is an ongoing global pursuit in order to push new heights on entertainment, communications and connectedness.
As we move toward the future, what is our vision forward? A picture of success would look something like a fully autonomous system with efficient and easily navigable digital platforms. For example, an application where customers can easily find, and simple enough to know what to do to order an item or service, has a fully visualise-able picture which a customer could refer to understand what to expect entirely. Until that is no longer the exception, but rather the norm, we will continue to develop this path that we have set ourselves on for the betterment of our people and nation
Quiz
Test yourself on your knowledge regarding the innovative ecosystems by answering our quiz below.