Innovation dictionary for beginners

Una Accelerator is an organization that promotes startups to accelerate their growth. This is carried out through a program that contains training, mentoring and support from the company. At the end of the acceleration process, there is a Demo Day or final event in which startups present the progress achieved throughout the program to mentors, partners, investors and other audiences.

La Methodology Agile is a philosophy that involves a different way of working and organizing. These are a series of principles to be applied within a project to carry it out in a more efficient and flexible way. The project is divided into parts that must be delivered in a short time, so that progress is constant, fast and focused on a single task. Find out more in the post 'Methodology Agile: What is it and what is it for?'.

Un algorithm It is a set of defined, ordered and bounded instructions for carrying out a task or solving a problem. That is to say, it is a set of ordered steps to reach an end determined.

To simplify, you could say that an algorithm is a phased procedure, rules that must be defined and followed in order to perform a task or solve a problem.

La Artificial Intelligence (AI) It is a technology that allows us to create machines with capabilities similar to those of human beings and that, even if we are often not aware of it, is present in our daily lives. It allows systems or machines to receive data, process it and respond to it, iteratively improving based on the information they collect. AI systems are able to adapt their behavior to a certain extent, analyze the effects of previous actions and work autonomously.

La Augmented Reality allows us to add layers of visual information about the real world that surrounds us, that is, through augmented reality, the virtual world is intermixed with the real world. A well-known example is the video game Pokémon GO.

El Benchmarking It's a referential comparison process used by companies for measure and improve the performance of your products or services and your processes.

But for these measures to be useful, they must be compared to a reference point (or Benchmark), so are analyzed in comparison with competitors.

Thanks to this study, it is possible to understand the strategies and best practices used by the competition. In this way, actions can be replicated or adapted to attract the target audience.

El Big Data It is a technology that represents a great business opportunity for companies, since it allows us to know customers in depth (their needs, their behavior, etc.) through data analysis. In this way, the information obtained can be used to make better decisions, carry out strategic business actions and improve the customer experience.

By definition, it describes the large amount of data that companies have and that is being generated at ever greater speed, massive data analysis. When talking about Big Data, we also talk about its V's: volume, speed, variety, veracity, value, variability and vision.

Blockchain, in its simplest definition according to OARO, is the technology that eliminates intermediaries in transactions or agreements. With the Internet, for example, we eliminated postal mail, which allowed us to communicate, place orders or bill customers and suppliers more efficiently. The way of doing business changed and new ones appeared. Did you imagine in 1990 being able to rent, open and close a shared car from your mobile phone?

Can we imagine, today, buying houses without a notary, exchanging money without a bank or executing contracts automatically? All of these are possibilities offered by this technology. Blockchain adds a layer to the Internet, allowing value to be exchanged and agreements to be executed in trusted environments.

Why Trust? Because the information is encrypted and distributed among many anonymous servers (nodes) that approve transactions by consensus. Imagine a parcheesi board where players can see the movements. If the +1 half agrees that the move complies with the rules, the chip would move automatically. Otherwise, fraud would be prevented. Transparency, traceability and efficiency would define blockchain.

Un Blue ocean it is a space within the market that has not yet been exploited and is not full of competitors. The best way to reach them is through innovation. The blue ocean strategy, therefore, consists of creating new market spaces instead of competing in those that are already consolidated, also called red oceans, where there are significant barriers to entry, making it difficult to access them.

The famous Brainstorming, also known as brainstorming, is a technique for share and share ideas. The objective is to reach a conclusion about a project, solve a problem, generate new ideas, improve a product or strategy or define the path that the company should follow.

El brainstorming it is common in any of the phases of entrepreneurship, it does not belong to a specific one, and it is a method that encourages team creativity at any stage of the project.