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Innovations NZ

A guide to why you should implement innovative strategies and goals in your business 

While innovation is a nice word, it might feel daunting to begin implementing actual innovative strategies in your business. In this article, we’ll help you understand why these types of strategies can help you, as well as why New Zealand is the perfect place to do so. 

What is innovation? 

At its core, innovation is the concept of trying something new. The very best innovations are not just new for the sake of being new, but are presented as the solution to a problem. This can take the form of a new product, a new business model or process, or even a small change in how you run business meetings. In other words, it’s a way of breaking barriers and changing the status quo. By doing so, it creates value. 

But more than just the product, service, or other outcomes that are often associated with the word innovation, the concept is just as much about having an innovative outlook. If you tackle issues and projects at work with the attitude that something new and meaningful is possible, and that change is part of the process, that allows for a freer business model which can be more resilient and healthy.  

Why should we care about innovation? 

All around the world, businesses are changing their budgets and calendars in order to focus on innovation. But does innovation actually matter? And even if it does, why should we care about it? 

There has been a large range of studies on the effect of innovation on businesses and markets, both from the perspective of revenue and general financial health. Overall, the studies show that there is a large range of positive impacts from implementing innovative strategies. For example, innovative businesses are more resilient. The Boston Consultancy Group found that the global top 50 businesses were able to recover a lot faster during the pandemic, where they outperformed the 2020 market by 17 percentage points.  

There is also the case of increased competitive advantage and business growth. Companies with a clear focus on innovation will attract workers with a strong affinity for development. Attracting stronger workers will lead the company towards a stronger goal orientation which will most likely increase efficiency and productivity, thus leading to business growth. 

Related to the previous point, companies that do not focus on innovation will soon lag behind. Not only has innovation become an “it”-word in global literature and seminars, but a study by BCG also found that 75 per cent of global companies list innovation as one of their top three priorities. As the concept of innovation grows in popularity, businesses that fall behind in prioritizing it risk losing out on the market to those who do.  

How can you implement innovative strategies in your business? 

So, what can you do to bring more innovation to your company or project? There are several good innovation strategies out there, but we will mention a few here. 

  • Set a clear goal. The first step to bringing everyone on board the innovation train is to create a common goal. Perhaps it’s a value goal, such as working to create valuable solutions rather than focusing on material goals. Perhaps the goal is more hands-on for reaching a certain solution or even becoming nominated for an innovation award.  
  • Interdisciplinary processes. Innovation happens when people work together. Therefore, bring diverse sectors to your project evaluations. Bring different groups, both from within the company and external members (such as customers or supply chain partners), together to evaluate and brainstorm projects. This will also build a sense of overarching purpose, rather than individual and isolated group efforts. 
  • Innovative friendly leadership. Innovation is about taking risks. This also means that the company needs to be a space where employees feel supported when trying new ideas. Therefore, the leadership needs to be supportive and encourage experimentation without penalizing it.  

Incorporating Innovation New Zealand NZ 

New Zealand is one of the top countries in the world that have managed to promote innovation and growth in its national economic strategy. It is among the top freest economies in the world, so it is easy to start a business as well as promote innovations NZ in the Oceanian state. Building on these market foundations, there are also innovation funding programs such as the NZIB that aid innovative Kiwi start-up companies. 

There is also a social foundation for innovation in the country. The most innovative companies tend to be the most diverse. New Zealand almost always stands out in global diversity and equality rankings, thus providing fertile grounds for innovative ideas and cooperation to sprout.  

As we’ve mentioned in a different article, New Zealand not only makes it easy to be innovative but is also very good at celebrating it. There are plenty of innovation awards New Zealand where both large and small companies can compete and be recognized. The wide array of NZ innovation awards is also a clever part of a larger innovation promotion strategy, as research has found that these types of events also help improve the public’s perception of the public sector.  

Seal innovation

Seal Industry Innovation

There are some links in the manufacturing of goods that are more essential than others. One of these is that of sealing technologies. The New Zealand market for industrial seals has grown exponentially, and there are several innovative technologies and developments that keep driving the industry towards a greener and more efficient future, including seal innovations nz.  

What do we mean by the seal industry?

Seals can be found in machines as large as airplanes and as small as sensitive medical equipment. Their main function is to prevent leakage, retain lubrication, block contamination, and hold pressure. In other words, seals help optimize performance and increased its process reliability. They can used in both static and rotary systems.  

There are a large range of seals on the market, including but not limited to: O-rings, hydraulic seals, rotary seals, pneumatic seals, mechanical seals, etc. There are also industry specific seals, as the products are used in a large range of operating areas. 

The innovative technology applied in the seal industry has helped the market grow and expand their operations. With the help of industrial seals, companies have been able to create more sustainable and long-lasting machine processes, as the seals prevent wear and tear from weather, temperatures, corrosion, and more.    

Since its beginning, the sealing industry has grown exponentially, and the growth does not seem to slow. In 2021 the global sealing industry was worth around 11.8 billion USD. According to market experts, the industry is set to grow another 6 billion USD by 2029, creating a compound annual growth rate (CAGR) of 5.7 per cent.  

Innovative Seal Technologies  

The birth of the sealing market was innovative in itself, and the pioneering mindset and research on the topic keeps going on high gears. Technological advancements are in motion every single day, and the seal imports and exports will expand further as they begin to be implemented into the industry. 

3D Printing 

One of the innovative techniques that have improved the industry so far is the implementation of three-dimensional printing technology. Prior to the idea of 3D printing, seals were produced by injection or compression molding, where seals were sculpted by producing lots of waste. With the help of 3D printing, seals are now only produced with the accurate amount of material for each seal, thus saving manufacturers both time and money.  

Furthermore, the technology has sped up the process of creating seal prototypes, which can be key in research and development of new techniques, shapes, and sizes. By doing so, it expands the flexibility of the already agile industry. 

FFKM, PTFE and Nanotechnology Materials 

Other researchers have looked at how the materials used can be more sustainable. As a result, materials such as FFKM and PTFE have been developed. PTFE stands for polytetrafluoroethylene and is more commonly known as Teflon. The material has shown resistance to temperature, corrosion, and electricity, making it a good and durable sealant.  

FFKM produces similar characteristics to the PTFE but has shown potential for more extreme situations. For example, they have been adopted in aerospace manufacturing where temperatures can fall as low as 200 degrees Celsius.  

Some have also discussed the potential use of nanotechnology and their self-healing properties in the sealing industry. These features, though they still haven’t gained ground, might help make seals even more versatile and flexible.  

NZ Branch Leader: Seal Innovations (SIL) 

One of the largest innovators within this field is the Australia-New Zealand joint company Seal Innovations (SIL). The company has combined several branches within the sealing industry in order to become a premium supplier of high-quality sealing equipment to its customers. The company imports seal and gasket supplies from both local and global manufacturers in order to continue their long running history of seal innovations nz.  

The SIL team stands on three branch pillars: Seal Imports, NAK, and Alliance Seal, the latter of which formed after combining Sealcom, Interseal, and Specialised Gaskets. In combining these three power houses, SIL has been able to build up a breadth of operations and seal and gasket product range unlike most companies in the branch.  

Conclusion

The sealing industry maintains an innovative mindset in producing durable business tech solutions. Both global and local seal manufacturers are working hard towards adopting new innovative technologies in order to create even better wear-and-tear protection.  

Planning for innovations

Innovation Awards NZ 

If there is one thing that makes the New Zealand silhouette stand out on the global map, it would be its focus on and appreciation of local innovation.  

The NZ government and organizations often bring attention to and inspire more innovation-driven development by hosting innovation awards. As a result, the country is filled with opportunities for organizations to apply, be nominated, and set goals to become more innovation-driven in their day-to-day activities. 

Innovation is not just limited to one branch of the market – there are awards relevant for every single organization. There are innovation awards for everything from technological technicalities to innovative marketing strategies, such as that won by the Front Up campaign relevant for those looking to buy viagra nz. In other words, these awards make sure to encourage organizations along the entire market spectrum. 

Why do innovation awards matter? 

Innovation awards are about more than just celebrating recent innovators and innovation projects. Ultimately, they are a way of both encouraging, inspiring, and gaining public traction and support of innovation in the larger society. 

The international Organization for Economic Co-operation and Development (OECD) has conducted research on the benefits of innovation awards and found that there are five overarching goals and effects. These are: 

  1. To recognise and encourage successful innovators, 
  1. To inspire and stimulate more innovation in the public sector, 
  1. To help build awareness of and community among innovators, 
  1. To provide information for case study research and statistics on innovation, and 
  1. To improve the public’s perception on the public sector. 

Because of these five reasons, innovation awards are important not just for the winners and finalists, but for a healthy and visionary society overall. There are also other benefits for participators than those listed above. For example, these events tend to garner media coverage and exposure of products, as well as provide opportunities to meet with and get feedback from experts within various fields. 

Furthermore, goal setting within companies to become nominees at an innovation award can help build a stronger sense of purpose and vision within the company crew. Not to mention, visitors who aren’t finalists might be able to meet and network with future project partners with whom they might one day receive the very same award they came to celebrate.  

NZ Nobel Prize Winners 

One of the greatest awards that scientists all over the world strive to be nominated for are the Nobel Prizes. The prizes were founded in honour of Swedish scientist and innovator Alfred Nobel, who invented dynamite and wanted to give awards to those who “have conferred the greatest benefit to humankind”. So far, there have been three Nobel laureates of New Zealand descent.  

  • Ernest Rutherford (1908) for his work on radiation and its division into alpha and beta radiation.  
  • Maurice Wilkins (1962) for his discovery of the heliacal structure of DNA. 
  • Alan MacDiarmid (2002) for his work on conducive polymers, or electricity conducive plastics. 

Though the list is not very extensive so far, these internationally recognised Kiwi innovators have helped pave the way for the innovative mindset in New Zealand, and the list is sure to grow as new generations step up to the plate.  

New Zealand Innovation Awards 

One way that the new generation of scientists can grow is through local recognition. As we’ve mentioned before, the Kiwi population is spectacular in their praise and encouragement of local innovation. Amongst the nz innovation awards, the following are some of the most prestigious: 

  • Spark Innovator of the Year 
  • The New Zealand International Business Awards 
  • The Fieldays Innovation Awards 
  • The Wellington Gold Awards  
  • The Rutherford Medal 

There is also a large range of smaller scale innovation awards and nz business awards for innovators all over the country. Other than simply handing out awards and recognizing innovative industries, the organizers often provide lists of the nominees from each year, thus also providing clear portfolios of innovative markets even after the event.  

People’s Choice Awards NZ 

Amongst the professionally distributed awards, there is also a large focus on the people’s choice. As a consequence, several nz awards feature people’s choice awards as a category in their ceremonies. This is yet another incentive and initiative to engage the public, improve their perception of the public sector, and give them a sense of ownership and pride over local innovation.  

People’s choice are used in both local and national award ceremonies, and niched as well as broad markets. For example, the TECT Awards focuses on supporting local businesses and projects in the Western Bay of Plenty, and brings up local organizations who have the “Heart of the Community” or the “Volunteer of the Year”. The Accessible Business Award, on the other hand, focuses all their categories around three criteria – accessibility, inclusion, and diversity – rather than a geographical region.  

Another example, and structure, was that of the NZ Innovation Awards 2017. The awards, which were based on innovation 2016 and 2017, were first handled by the award arrangers and several different organizations were nominated in a broad range of categories. Once the finalists were published, the people’s choice awards 2017 was initiated. The people could then vote amongst the finalists in order to reward an extra honour on the day of the ceremony.  

How to apply for nz innovation awards 

If you feel inspired or feel your company needs a push in an innovative direction you might be wondering how to apply for an innovation award. Often, organizers of awards have clear instructions on their websites. These guides contain requirements for what a company must have fulfilled in order to be considered for the award.  

For example, the Spark Innovator of the Year award requires that the innovator in question must have invented a product or service that there was a need for, that has a proven impact, potential, and long-term impact. Most of the time, you cannot nominate yourself or the organization/company you are affiliated with.  

As someone just starting their innovative journey, you can start evaluating your own and your organization’s current and new projects from these criteria in order to apply an innovative process that can get you nominated. You can also draw inspiration from lists of previous innovation award finalists, as well as from innovator-focused websites such as this one or innovations co nz.