Summer of Innovation explores virtual experiences

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Summer of Innovation
Summer of Innovation team, from the left: Viktor Gregurek, Kerkko Visuri, Tommi Pirilä, Juho Ailoranta, Sifo Luo
12-09-16 10:00 | Awards and organisational news

HELSINKI - During the summer, Nordea’s Business Innovation Unit ran a pop-up innovation lab with five students from varying academic backgrounds as a part of the Summer of Innovation Programme. The team was given a problem each Monday which they worked on using Google’s Design Sprint process to have a tested prototype by each Friday.

"Seeing how young minds tackle our problems with a novel approach brought up new ways of thinking for many at Nordea. The students also found the programme insightful. They got a deeper understanding of the challenges banks are facing than many would get over a multiyear career," commented Director Heikki Härkönen from Nordea’s Business Innovation Unit.

One of the weekly sprints was a case with Ticketmaster Finland where Nordea’s team, together with Ticketmaster, experimented with the concept of offering virtual reality access to live events.

"The key questions to tackle during the sprint were whether customers are interested in the concept of a virtual immersive experience at live music and sports events and whether it would be a service people would actually pay for. The proliferation of personal virtual reality headsets in households is expected to significantly increase in the next two years, enabling new entertainment services and customer experiences," explained Rea Raikamo from Nordea, who coordinated the project.

The team set up a pop-up stand at the Linnanmäki amusement park in Helsinki, letting the public experience a recorded live venue event with a virtual headset and interviewing them afterwards on their experience and expectations. The level of positive feedback and interest in the potential service surprised the team.

"The participants saw this as an extremely interesting new entertainment service. A key takeaway from the project was that consumers are flexible and eager to test new technology and innovative products. They are also willing to pay a decent price for the virtual event. Flexibility, ease-of-use and customisation are things that customers are expecting to receive as users," Raikamo said.

The pop-up innovation lab was also a positive experience for Ticketmaster Finland.

"The students managed to create a really unique set of innovations and ideas - we were totally surprised by the way they handled and were committed to this lab programme. There are many differences between the financial and live entertainment industries but there is also a wide range of similarities where we both can learn more from each other and each other’s partners and networks. At the end we share the same goal – to be better in what we do," commented CFO of Ticketmaster Finland, Juhana Stenbäck.

Summer of Innovation Programme will be organised again in summer 2017.

Ticketmaster is the World`s leading ticketing company, selling 530,000,000 tickets worldwide in 27 countries annually. More information about Ticketmaster Finland:  

Further information:

Heikki Härkönen, Head of Business Development within Business Innovation. +358 504394322

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