While many companies are in survival mode, others are leaping ahead and starting afresh or redefining their business, their industry, and perhaps the new normal that we will step into post COVID-19.
What enables a business to thrive during crisis? It is the capacity to solve a problem and fill a customer need or want, while still being financially viable.
Here are three companies that are solving an important problem that has arisen during COVID-19 and how they are innovating during this current crisis. May they inspire you to pivot and thrive in your business.
Problem example #1: Since disposable face masks can’t block all pathogens nor kill them, a used mask is also a vector for disease as the pathogens multiply in the fibers. How can we improve how we care for those people that pick up infectious diseases through using disposable face masks?
- The solution: Sonovia, an Israeli startup, is working on solving this problem by creating washable, reusable masks embedded with antiviral and antibacterial agents.
Problem example #2: Providing care for patients when doctors are already stretched thin.
- The solution: Enable doctors to provide remote care — powered by 5G. Chinese telecom equipment provider ZTE has launched a remote 5G diagnosis and treatment system, which resulted in the first 5G remote diagnosis of coronavirus pneumonia.
Problem example #3: Subtle changes can lead to a worsening of a chronic condition, but symptoms may not become apparent to a patient until it’s time to call an ambulance.
- The solution: BioIntelliSense, a US-based digital health startup, has developed a wearable “sticker” sensor designed to monitor patients’ vital signs remotely and provide near real-time data that clinicians can use to identify physiological changes indicating a need for intervention.
Each one of these initiatives show the great strides we can make when medical expertise and tech innovation come together, however, innovation is not limited to those in the healthcare and tech space. EVERY industry has the capacity to innovate and develop creative solutions to the world’s most pressing problems. We just need to raise our innovation IQ, learn how to think differently, and resist clinging to the old way of doing things. Then take action.
Are you one of the ones hunkering back and riding out the storm, hoping that things will return to the way they were – or are you taking action on a bold idea?