Meiden
GENERAL MANAGER, OPEN INNOVATION
SILICON VALLEY BRANCH OFFICE MANAGER
MEIDEN AMERICA, INC.
WHAT IS YOUR DIVISION'S MISSION AND WHAT ARE YOUR RESPONSIBILITIES?
Under the umbrella of the Corporate Strategy Division of Meidensha Corporation, we are engaged in activities that spur innovation in Silicon Valley. Our objectives are to develop innovative human resources and to explore and structure social needs.
In Silicon Valley we operate in three stages: Knowing, Realizing, and Learning. ‘Knowing’ refers to the information we gain at Silicon Valley. We ‘realize’ things by combining our knowledge with what is happening in the world, and finally, we ‘learn’ things through working with start-ups, and applying them to real-life practices. We are using VALUENEX’s service particularly for the ‘realization’ of new insights.
HOW DID YOU FIND OUT ABOUT VALUENEX?
In the summer of 2021, a consulting firm introduced us to a start-up company, which we found very interesting and decided to investigate. When we started to collect the data and making lists of the startups, we faced many difficulties with traditional research methods. Someone introduced us to VALUENEX and we were interested in VALUENEX’s panoramic view analytics. Then we decided to use the VALUENEX Radar tool.
DID YOU FACE ANY HURDLES WHILE COORDINATING WITH MEIDEN CORPORATION, IF SO HOW WERE YOU ABLE TO OVERCOME THEM?
When we asked for consulting services, the internal coordination itself was not that much of a hurdle since we were originally working in Silicon Valley independently. When we were able to obtain a lot of results, those results were reported to the Corporate Strategy Division and the R&D Division. Thereafter, we were told that there was another department looking for a new way to research. This led to our next project together. Because of our regular communications we could proceed the processes in a relatively smooth manner.
WE WERE ABLE TO CREATE AN ENVIRONMENT CONDUCIVE TO EXPLORING NEW IDEAS AND ACTIVITIES.
IF YOU COULD GIVE YOURSELF ADVICE BEFORE USING VALUENEX, WHAT WOULD IT BE?
I don't have any advice because I was introduced to the company at the right time and was able to see comprehensible results from the panoramic view analytics in a short period of time. I have nothing to say except please just go ahead with it.
HOW ARE VALUENEX SERVICES BEING ADVOCATED WITHIN MEIDEN?
Since our objective is to convey new things to MEIDEN’s Japan side, it was a challenge on how we could convey the work that we are doing for the head office and get them to act on it. We need to have a good network via regular communication and share the reports to them for their opinions and feedback. After these trials, we would move onto the next step. I was especially active in increasing the number of people who understood the concept and output of VALUENEX Radar.
WE BECAME MORE CONSCIOUS OF THE IMPORTANCE OF EXAMINING THINGS HOLISTICALLY. THE RADAR IS EXTREMELY FREE OF BIAS, WHICH HAS CHANGED MY AWARENESS ABOUT ISSUES I PREVIOUSLY THOUGHT I WAS FAMILIAR WITH.
WHAT ARE THE RESULTS OF USING VALUENEX?
Last year, VALUENEX carried out three projects for us. First, we conducted an industry insight study using patents. Second, we analyzed industry competitors also by using patent information, and lastly, we conducted a study on future market opportunities using patents and research papers. These experiences helped us to understand that we can achieve many things through VALUENEX Radar. By accumulating these experiences, we were able to create an environment conducive to exploring new ideas and activities in the last fiscal year. As a result, we decided to analyze our own company this year and made new use of the VALUENEX Radar. I thought it was great progress that we were able to conduct company-wide activities, whereas we had only been conducting individual activities.
WHAT HAVE BEEN THE MAJOR CHANGES AFTER INTRODUCING VALUENEX SERVICES?
Many people had a hard time understanding what VALUENEX Radar was, but once they started to understand how to use it, they started to find more insights. By exploring many inquiries that our members had, many of them became more conscious of the importance of examining things holistically. As the world is reflected in a single map, it was wonderful that everyone was able to discuss the issue together, since you don’t need to be a specialist to understand this map.
Furthermore, previous analysis methods were prone to cognitive biases such as stereotypes, preconceptions, and assumptions. However, the panoramic map is an easy way to see the facts of an industry and understand the logic behind it. Therefore, the Radar is extremely free of bias, which has changed my awareness about issues I previously thought I was familiar with. Being provided with big data consulting in a short period of time is something that was not possible with traditional approaches. Therefore, the new narrative that "it is important to use assets such as big data," rather than relying on the conventional approach, has begun to spread.
VALUENEX RADAR IS OFTEN SEEN AS A COMMUNICATION TOOL, DO YOU THINK INTERNAL COMMUNICATIONS HAVE BEEN IMPROVED THROUGH VALUENEX PROJECTS?
When we used to analyze technology with conventional research methods, the results could only be understood by certain specialists of the R&D Division. However, by being able to map out a single industry on one screen, I feel that discussion among all members has increased. Until now, the opinions of those in the technical division have been strong, and we have not been able to dig any deeper. Thanks to the panoramic view, we can all make holistic judgments and make decisions together.
DO YOU THINK IT IS POSSIBLE TO USE VALUENEX RADAR AS AN ‘EXTERNAL' COMMUNICATION TOOL TO ENGAGE WITH OTHER COMPANIES OR CUSTOMERS AS WELL?
I think it does function as an external communication tool as well, since we can present the panoramic view of MEIDEN’s technologies in the form of integrated reports with the Radar on our website. The output can make it easier to understand what a certain technology really is and how it has helped MEIDEN.
DO YOU THINK THIS OUTPUT CAN BE USED TO ENHANCE COMPANY AND ASSET VALUATIONS?
I think there is definitely an impact that could be made by using facts and data. Bias can exist when only ‘text' is used and there aren’t any holistic methods of judgements. Making the facts easy to see and understand is beneficial for various judgements of value.
HOW DO YOU PLAN TO PROMOTE YOUR BUSINESS THROUGH VALUENEX SERVICES?
I make an effort to introduce cutting-edge technologies of Silicon Valley to MEIDEN’s Japan side and try to have them take advantage of it. I think that I can help them by being a pipeline between Silicon Valley and Japan in some ways by finding new uses of the Radar. Text-based big data analysis is applicable not only for the technical elements of our business but also has potential in other ways. Therefore, we would like to use VALUENEX Radar for a wide range of sales and management aspects.
ANY WORDS FOR COMPANIES WHO ARE CONSIDERING USING VALUENEX?
If you want to search for startups or evaluate companies on your own, you can achieve that by using VALUENEX Radar in-house instead of just receiving venture capital or consulting requests.