Accelerate business opportunity development and commercialization on industrial 5G with industry ecosystem partners
At its core, commercialization is an iterative process of value creation that responds to market and customer demand. All necessary activities require efficient planning and execution of co-innovation activities with business and R&D partners to capture value, enhance productivity and accelerate the path towards a more sustainable world.
In order to achieve these objectives and ensure value capture, cross-industry teams must work side-by-side to develop innovative global business opportunities and put various new technologies to the test in real-life scenarios.
In Nokia's Veturi program, we utilize Nokia Bell Labs Future X Lab at the Nokia Espoo campus with industrial partners and academics to jointly test, validate and demonstrate the most promising industrial solution blueprints and applications. With its own 5G private network, telco cloud, and wireless coverage interconnected to Finnish 5G test networks, Future X Lab gives Nokia's ecosystem partners the opportunity to demo their solutions and enhance their market engagement opportunities.
Together with industrial partners such as ABB, we have built a mini-factory that acts as a platform to showcase, for example, conscious factories. In order to realize these opportunities, ultra-reliable, low-latency communications and time-sensitive networking will play a key role in the future industrial application development.
Now is the time for enhanced collaboration in order to develop pioneering industrial applications, and we warmly welcome other Veturi ecosystems and industrial ecosystem partners to join the industrial 5G journey with us.
Together, via local cross-industry ecosystem collaboration, we have established excellent momentum in the development of new, innovative industrial applications for global markets. We look forward to Unlocking Industrial 5G here in Finland and working with Business Finland and the whole Finnish ecosystem. Stay tuned as we continue to blog about the next steps in a series of deep dives into different industry segments.
Business Finland organized a competition in which it challenged leading companies (Veturi in Finnish) of networks with international operations to solve significant future challenges and increase its research, development and innovation investments in Finland. Nokia is one of the winners of the competition. The winning companies have committed to increase the number of RDI jobs by a total of hundreds and their RDI investments by a total of hundreds of millions of euros. If successful, the projects will lead to additional investments of several billion euros in Finland. Read more