How good networking events can stimulate business innovation

Open innovation system and its orchestrator

We know that relationships established during encounters at public events can trigger people from different companies to form networks and start innovating with each other. In this case, the networking activities at the event had a clear organiser, but the event was open to everyone who had something to contribute,” explained Reinmoeller.

So, what exactly did the organiser, as ‘orchestrator’ of the networking event, do to make a relatively unstructured and open network into an effective and successful forum for generating new business?

Drivers of success: orchestrator actions

The researchers discovered that during the event planning stage, the network orchestrator worked to create collaborative engagement among participants. They issued regular communications about the purpose of the network, and carefully selected who would have access to it. They encouraged influential members to participate and contribute in sector-based ‘round tables’, and gave them the responsibility of organising and conducting workshops.

Event preparation included asking members to think about their goals for the event and write them down. Such events can be months in the planning; during this time, members attended sessions to reflect on these goals. They were asked to identify which goals would be complemented by other members’ goals.

The event itself is carefully designed to maximise contacts. All the booths are the same size, so small companies are mingled among larger ones. The organisers patrol the event to monitor the quality of interactions, and to encourage participants to leave their own booths and interact with participants from other companies; their aim is to create the best possible experience for all participants.

Effects of actions on participants

The effect of the organiser’s actions makes participants more aware of what they have to offer. Participants reported a feeling of greater trust in fellow participants, and a congenial atmosphere created a positive feeling about the whole event.

“We noticed that this improved people’s ‘sensing capability’. This isand  the attitude that makes people look around discover new chances,” says Reinmoeller. “That is what led to all the new business opportunities and formation of new relationships.” 

Participant attitude

Reinmoeller’s study shows that well-orchestrated events like this can be incredibly effective at encouraging and stimulating innovation. But they work only if participants are encouraged to leave their ‘salesman attitude’ behind, and instead use a mindset of sharing ideas and information first. It’s also very important that participants invest in their networking relationships before the event so that effective networking happens during the event.