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Innovation In Nordic Software Industry - John Lervik - FAST - Stanford - March 8 2010
Talk by John Lervik, CEO (Emeritus) of FAST Search & Transfer, Norway, given at the Stanford Engineering School, European Entrepreneurship & Innovation Program (http://me421.stanford.edu), March 8 2010. Sponsored by Innovation Norway.
Talk by John Lervik, CEO (Emeritus) of FAST Search & Transfer, Norway, given at the Stanford Engineering School, European Entrepreneurship & Innovation Program (http://me421.stanford.edu), March 8 2010. Sponsored by Innovation Norway.
Innovation In Nordic Software Industry - John Lervik - FAST - Stanford - March 8 2010
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Innovation in the Nordic Software Industry<br />Dr. John M. Lervik <br />Stanford Engineering School <br />European Entrepreneurship @ Silicon Valley<br />March 08, 2010<br />
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FAST Was Acquired By Microsoft ForIts Vision, People, And Technology<br />Technology<br />People<br />Vision<br />$1.2B<br />
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FAST Web Search Overture/Yahoo!<br />SOLD $100m<br />
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Customer-Driven Innovation Working with world leading companies<br />
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FAST, a Microsoft Subsidiary<br />FAST is transforming search into a key enabler <br />for mission-critical applications and an IT infrastructure necessity<br />Publicly listed on Oslo Stock Exchange since 2001 (ticker FAST)<br />#1 in revenue growth<br />Over 3600 installations<br />750 employees in 32 locations<br />150 alliance and OEM partners<br />Tromsø<br />Stockholm<br />Oslo <br />Helsinki<br />Copenhagen<br />Toronto<br />London<br />Chicago<br />Amsterdam<br />Boston<br />Paris<br />Munich<br />Salt Lake City<br />Frankfurt<br />Milan<br />Seoul<br />New York<br />San Francisco<br />Rome<br />Tokyo<br />Washington DC<br />Dubai<br />Dallas<br />Atlanta<br />Madrid<br />Hong Kong<br />Mexico City<br />Singapore<br />Rio de Janeiro<br />Sao Paulo<br />Sydney<br />Cape Town<br />Melbourne<br />FAST was one of the fastest growing software<br />companies in the world<br />Going forward: FAST, a Microsoft Subsidiary <br />9<br />
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(1) Clear Vision- & Challenging Targets<br />MARS<br />FAST vision more expansive & elaborate than others from start<br />FAST: Search is much more than search<br />Will change the way the information stack will work within an IT infrastructure<br />Will change the way people market and sell products online<br />Will change the way data is processed and analyzed<br />Competitors: Look at this feature… it is quite nice, isn’t it<br />You never go farther than your dreams…!<br />
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(2) The BestPeople – As a Team<br />Innovation and growth is a result of ambition and will power<br />Hence, prime focus is on people:<br />Attract the right people and keep them motivated<br />For FAST people had these characteristics:<br />Extreme capabilities<br />Have great level of ambition<br />People that are team oriented<br />There is no substitute <br />for hard work…<br />
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Decisions<br /> Insight<br /> Information<br />Data & Content<br />(4) Customer-Driven Innovation – Choose the Best & Most Demanding Clients<br />Learning by doing….<br />
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(5) Innovative, Result-Oriented Culture<br />“VIP” Culture: Vision, Integrity, Passion<br />Passion<br />“Yes, we can” attitude<br />“Quiet confidence”<br />No use for an innovation culture without substance:<br />Built on extreme capabilities<br />Driven by market demand<br />Corporate culture is not a coincidence...!<br />Make sure all of the organization is aligned from engineering to sales<br />E.g. HR, legal, finance: Support innovation, growth, and efficiencies<br />