Working with LR on the Safety Accelerator
In June 2018, the Lloyds Register Safety Accelerator was born – a joint initiative between Lloyd’s Register Foundation, which helps to protect life and property by supporting education, public engagement and research, and Lloyd’s Register (LR), one of the world’s leading providers of professional services for engineering and technology. Tenshi has the pleasure of working with LR on this unique, innovative and globally impactful programme.
The Accelerator in a nutshell
The programme was launched to help to make the world safer, particularly the industries that we as a modern society rely upon each day including marine, energy, supply chain and food. It’s the first accelerator to champion the adoption of innovative technology for safety within these industries.
The Accelerator uses an open innovation model, connecting companies with world-class innovative startups, whose solutions have the potential to solve important safety challenges. After a live pitching event featuring shortlisted startups, the chosen winner goes on to work with the company for three months, together testing the new ‘Safetytech’ solution. If the solution proves viable, it is potentially rolled out to benefit even more companies and the wider industry.
It has been an incredible two years for the Accelerator generating real impact across the world. And we’re not the only ones that think so – the Accelerator was delighted to receive both the European and Global Lloyd’s List Award for Excellence in Data and Technology Innovation last year.
Winners of these awards represent the brightest and best, demonstrating greatness in key categories ranging from shipping, to supply chain management, to innovation, to safety and training. Distinguished and industry-leading judges who presented the accolade felt that the Accelerator embodies everything that the awards were established to champion, displaying important and impressive global impact.
Successful Open Innovation
Here at Tenshi, we have extensive experience delivering open innovation programmes for clients. They’re the modern alternative to traditional procurement – you don’t just find a serviceable solution, but the best one possible, by testing first. Open innovation delivers impactful results, as it plays to the strengths of both parties and allows them to co-create an innovative, unique solution. Startups benefit from the expertise and guidance of established sector leaders, which can be instrumental in building a successful product. For the larger organisation, the process allows them to help shape product development during a trial, providing a low risk way of experimenting. Working with and observing a startup enriches internal innovation initiatives for any organisation.