Business Issues -> Innovation
Released: 1st August 2013
London, August 1, 2013 – CODE_n is getting big! The next round of the global innovation competition is setting its sights on business models that tackle intelligent and efficient use of large data volumes. With this year’s slogan, “Driving the Data Revolution”, the CODE_n Contest is calling young companies from around the world to apply by October 31, 2013. The top 50 applicants will be invited to present their big data solutions at CeBIT 2014. A separate hall at the trade show – decorated to create a spectacular themed setting – is where CODE_n will showcase the most exciting new business models for IT-based areas in fields such as financial services, healthcare, telecommunications, automotive engineering and energy production. The startups from these topic areas will be supported and promoted by innovative leaders from each area. The winner of the CODE_n14 Award will walk away with prize money totaling €30,000.
“Anyone suggesting big data is just hype couldn’t be more mistaken,” explains Ulrich Dietz, CEO of the GFT Group and initiator of CODE_n. “It is a global issue for the future, which is sure to take the intelligent use of data, and thus our use of IT, to a whole new level.”
A myriad of business opportunities are opening up along the complete value chain for “data business” – this includes the recording and processing of huge data volumes as well as the analysis of this data as is done in market research, simulations or in product development. “Sectors such as the automobile industry or the energy sector are witnessing completely new prospects for the use of IT,” explains Dietz. “Financial services providers are raising the bar for their consulting services by considering up-to-the-minute data in real time. Even the medical industry is discovering new application options in things like diagnostics and therapy.”
Helen Thomas, Head of CODE_n UK and Head of Enterprise Accounts & Services at GFT UK, commented, “As we know innovation is high on the agenda of many businesses as they worry about how to remain competitive in an increasingly fast-moving and disruptive world. How organisations capture, create and use data is changing the way we work and live. Big data has the ability to not only tell our clients in Financial Services what has happened, but what is happening right now and to predict scenarios of what is likely to happen. Re-imagining the possible around this topic is really exciting for us and I’m delighted this topic is being embraced by CODE_n.”
Feeling the winds of change at CeBIT
Recent studies show that many companies still aren’t sure what to make of big data technologies – this often boils down to a lack of convincing examples of their use. This is exactly where CODE_n aims to cast a spotlight. “Large technology and infrastructure providers are moving the topic forward, but they often lose sight of the user’s perspective,” says Dietz. “Companies like the ones we hope to find through CODE_n come from the other side of the equation. In developing their business models, they are addressing niche areas. They make the added value brought on by big data tangible. They are driving the data revolution from the bottom up.”
The stage for the 50 most promising contestants will once again be set at CeBIT in Hanover. At this leading international IT exhibition and conference for the digital economy, the finalists will showcase their ideas across more than 4,000 square meters of hall space, in a setting created by international designers. Oliver Frese, the Managing Board member at Deutsche Messe responsible for CeBIT, welcomes another year of collaboration: “CODE_n has brought many innovative business models to CeBIT over the last two years, spreading the spirit of Silicon Valley a little bit closer to home. We would like to take this further in 2014. With the topic of ‘big data’, CODE_n is keeping its finger on the pulse of business, and visitors to CeBIT can be sure they are in for exciting themes in Hall 16.”
EY, formerly known as Ernst & Young, is participating in CODE_n as a Global Partner. “Like CODE_n, we want to decisively move things forward. With its promotion of applied product and service innovations, CODE n offers an ideal opportunity to do so,” explains Mark Smith, Member of the Management Board of EY. “Over the last two years, CODE_n has proven to be one of the most exciting platforms for the early discovery of innovative solutions from the next generation of startups – and it’s the best vehicle for supporting these young companies by presenting them to the public and prospective investors. Participating in CODE_n is highly recommendable for companies that are just starting out.”
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Published by: electronicdawn Ltd.