Engaging with students is an effective way to bring fresh perspectives, new ideas, and innovative thinking to the table. Their curiosity and creativity help address complex challenges, such as those in the energy sector, while also providing students the opportunity to contribute to real-world solutions. As we conclude the second year of the WISE (Wide and Intelligent Sustainable Energy) ecosystem, it is an ideal moment to pause, reflect, and consider how we can enhance our performance moving forward. To support this process, students from Hanken School of Economics conducted a SWOT analysis, examining the strengths, weaknesses, opportunities, and threats of WISE to identify ways to improve.
WISE has brought together small and medium-sized enterprises (SMEs), corporations, academia, and communities to work on sustainable energy solutions. The insights from this analysis provide perspectives of what is working well, the challenges that remain, and the actions needed to strengthen future collaboration projects.
Strengths: A solid foundation
The WISE ecosystem is built on collaboration and innovation. Its diverse network of stakeholders allows for broad cooperation, which is supported by WISE’s strong credibility in the energy market. Access to funding has enabled WISE to deliver impactful projects, while its focus on green innovation and sustainability has strengthened its reputation.
WISE also benefits from research and development (R&D) capabilities and a culture of knowledge sharing. In addition, its ability to test solutions in real-world settings and to maintain a strategic focus helps keep its activities aligned.
Weaknesses: Barriers to overcome
While WISE has many strengths, it also encounters some challenges. Limitations in funding may restrain growth and scalability. The complexity of its programme structure can make management and execution of projects more difficult, while a high entry threshold might discourage new participants from joining the ecosystem. Additionally, slow decision-making processes can reduce agility, and communication gaps between stakeholders can make collaboration less effective.
Opportunities: Room to grow
The energy sector is evolving rapidly, and WISE is well-positioned to take advantage of new opportunities. Expanding international collaborations could help WISE access expertise and resources, while adopting emerging technologies can accelerate innovation.
There is also significant potential to strengthen partnerships between academia and industry, which could open access to resources and talent. Joining regional hubs could help WISE increase its local impact and scale its activities more effectively.
Threats: Risks to manage
Like any ecosystem, WISE faces some risks. Relying too heavily on key partners could create vulnerabilities, while slow adaptation to trends and innovations may limit the ecosystem’s progress. In addition, competition in the energy market is growing, which increases the pressure to stand out. Misaligned goals among stakeholders could lead to inefficiencies, while technological changes require adaptation. Lastly, ecosystem fatigue could reduce engagement over time.
Actions to test in the WISE ecosystem
To address these challenges and explore opportunities, WISE could consider the following actions:
- Create a repeatable pipeline
Set up collaboration cycles to bring stability and predictability. Provide an overview of project types and entry criteria to make it easier for stakeholders to get involved.
- Offer training and workshops
Organise training sessions, workshops, and innovation sprints to facilitate collaboration between SMEs, corporations, academia, and other participants.
- Develop a knowledge-sharing platform
Build a platform where members can share insights, best practices, and research findings. This would encourage participation and create a knowledge base for the ecosystem.
- Increase partner visibility
Highlight key partners on the WISE website to showcase their contributions and attract new participants. Sharing success stories and case studies could inspire collaboration.
- Use strategic foresight
Use tools to anticipate trends, challenges, and opportunities in the energy sector.
Your input matters
Do you think these actions will strengthen collaboration within WISE? We’d love to hear your thoughts!
Eleonor Hedström, eleonor.hedstrom@wartsila.com