Metaverstic Innovation Management: The World Innovation Stock Exchange Democratic Incubator

Open Access
Conference Proceedings
Authors: Evangelos MarkopoulosInes Selma KiraneHannu Vanharanta

Abstract: Since the first ideation of the World Innovation Stock Exchange in 2015, the business landscape has drastically changed. The world witnessed the introduction the Metaverse as the pioneer of cyber-parallel worlds. Societies endured a global pandemic and the subsequent socio-economic crises of unprecedented force. All happened under an ambient banalization of individual entrepreneurship as a shaping capacity with increasing impact power on the Collective (physical, cultural, and digital society). Under the phenomena of globalization and financialization, the contribution to knowledge and innovation is becoming more and more organic, since citizens themselves endorse an entrepreneurial proactiveness in tackling challenges of varied scale. The contemporary global technologic and social disruptions are changing the game of innovation management. Emerging and existing technologies of the Industrialisation 4.0 not only provide a platform to the digital world, but also augment it, thereby augmenting the impact a sole individual, a simple organization, or a remote business can have in innovating globally. Moreover, global crises have accelerated both the already occurring evolution of work-places & work-practices, and the capacity stakeholders have in endorsing collectively and holacratically projects to solve commonly faced challenges. More than ever before, the digital world enables to collaboratively develop, control and monetise one another’s Innovation. The diversity in stakeholder’s collaboration is a consequence of these structural changes. Indeed, it is no longer surprising that eminent businessmen now collaborate individually with start-up incubators, celebrities partner with social enterprises, and eminent scholars pair up with MNCs to come up with developmental programs. Above the previously mentioned technological, social, and economic disruptions, a superseding revolution has occurred. One that is structurally reshaping individual and social relationships to knowledge and knowledge management: the democratisation of intellectual capital. Nowadays, anyone connected to the web can collaborate and expose its ideas formally or informally on a variety of social media and professional platforms. The number of innovators with unique profiles, in age, geographic location, and social status has sprung. The power of metaverstic-like processes in knowledge management relies on its democratic nature, inclusively welcoming a diversity of profiles and ideas. How to take sporadic ideas and contributions internationally, expressed on a web platform, and instantaneously match them, ideally structure them, and coordinate their protagonists’ actions to pursue them? How to facilitate and incentivise the evolution idea-innovation? How to optimally take ideas on a page to a lifechanging service? Since innovation management is becoming gamified, the is an evident need to develop Metaverstic project management tools that encompasses not only AI-facilitated holacratic teaming, but also blockchained project management in all its phases (from ideation to market launch), while taking into account the critical component of innovation monetisation. In 2015, the World Innovation Stock Exchange already set the bases of such Metaverstic platform of innovation management: this Exchange structures the meeting of the minds, just as any financial stock exchange does, while following the Shared Values principles. To extend on the premises of this novel Exchange, this paper describes in detail how a component of the W.ISE will have to be developed, namely the World Innovation Stock Exchange Democratic Incubator (WISE-DI). It describes how it operates conceptually and to which extent it answers structural guidelines to practically develop this W.ISE. It addresses the critical notion of Innovation tokenization with the MarkPoints cryptocurrency, the securitization of project management via the W.ISE blockchain, and the monetization of the launched-to-market innovations in the real economy*. The ultimate benefit of the W.ISE-DI platform relies on both its smart structuring capacity and user-friendly/ interactive interface, which enable to manage intellectual contribution ownership and incentivise R&D collective financing.

Keywords: Leadership, Management, Strategy, Change Management, United Kingdom, BREXIT, European Union

DOI: 10.54941/ahfe1001523

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