According to the vision defined in 2015 and the "blueprint for the development of AIoT Internet of Things", Advantech regards AIoT as the engine of future industrial growth. Also, we have transformed the Company from a manufacturer of industrial computers into a provider of industrial IoT terminals, cloud solutions, technology suppliers and service providers through various innovative means. Currently, Advantech has an innovation mechanism including three categories and six projects for products, technologies, careers, and academic cooperation
Several important innovation mechanisms all held by Advantech now are personally led by the Chairman and senior executives, including those concerning products,technology, careers, and academic cooperation. Furthermore, they involve pragmatic long-term promotion encompassing three categories and six projects:
Advantech's blueprint for innovative development brings innovation and business development ideas to existing business units through the IMAX-C mechanism. It includes the cultivation of new organizations, the connection with external partners, the development of new products and new services, and the integration of internal resources. The other end of EBO is to explore new business opportunities, new markets, new technologies, and new businesses with low market maturity or beyond the scope of the original business. Also, these new opportunities are nurtured in the development of Advantech. Among these two endpoints, A+X is a new product strategy that extends existing business groups from the perspective of market development. Meanwhile, it expands its business territory and uses high-level empowerment and cross-unit integration to achieve its goals. However, MCT/ TSU plays the role of core technology integration management under the footsteps of new products and new business innovations of these business units. In the direction of industryuniversity co-creation and Innoworks blueprint development, new ideas are stimulated through university-research cooperation, including the new generation's ideas for the future Internet of Things and product concepts. It is beneficial for Advantech to enter AIoT integrated applications and services, and to do early thinking and exploration.
This innovative mechanism fosters new business units and launches new products every year. In addition to winning awards, it has also created outstanding business achievements, allowing Advantech's core business to grow rapidly through mainstream trends and innovations in leading R&D technologies. Through internal innovation projects, the effects and trends of innovation are examined, innovative product development is stimulated, and product strategies are adjusted at any time.
Innovation Effectiveness Management
When the innovative mechanism is promoted, different effectiveness indicators are given according to the attributes of the issues that each mechanism focuses on in order to ensure that the innovative measures and mechanisms can exert their maximum benefits. Each innovation mechanism has a way of defining goals (KPIs), conditions for achieving goals, and follow-up actions. For example, the number of research projects of industry-university research conferences and the results also set a certain proportion for technology transfer or continuation of cooperation with public institutions. Also, for example, extra awards for product innovation and industrial design are given with the International Industrial Design Award. In addition, the revenue benefits generated by new products after they are commercialized and launched are tracked. For the EBO mechanism of business innovation, the Executive Committee is composed of senior executives. For the planning or results of innovative business and business models, substantial support is given, and the business development results of institutions are tracked.