Lopa Patel MBE addressed Executive MBA (EMBA) students at Cambridge Judge Business School (CJBS) on 20 November 2024, as part of the esteemed Cambridge Leadership Speaker Series. The session, titled Leading with Innovation: A Journey Through Technology, Business, and Diversity, saw Lopa sharing highlights from her exceptional career as a digital entrepreneur, Chair, Non-Executive Director, and Trustee. She also discussed her role in driving digital transformation, fostering innovation, and championing diversity across multiple sectors.
With a distinguished career at the intersection of technology, business, and governance, Lopa Patel has been instrumental in founding two ventures: an online media business and a data-driven marketing consultancy. She continues to lead impactful organisations as Chair of the equality charity Diversity UK. During her talk, she delved into how organisations can leverage technology to address challenges and deliver meaningful outcomes, framing her insights around key questions:
- What problem are you trying to solve?
- How will technology help address this problem?
- What will successful outcomes look like?
Delivering Value Through Innovation
Lopa emphasised three primary objectives for achieving impactful outcomes:
- Deliver value to the customer.
- Increase convenience.
- Improve productivity or efficiency.
Encouraging the EMBAs to define the unique selling proposition (USP) of their innovations, she advised focusing on strategy, planning, and execution. Lopa also underscored the importance of protecting intellectual property, defining the brand, and building brand values—key factors for innovators seeking angel or venture funding.
Reflecting on her own journey, Lopa recounted the founding of her first business, DMS Direct, in 1991:
“Digital technology was critical in delivering our services. We built databases for clients and helped them market their products. Now, with so many built-in business insight tools, the challenge is not the lack of data but the surplus of it—too much data, not enough information. As MBA graduates, your role is to transform knowledge into better outcomes for customers. What are you trying to achieve? How will you deliver it? How will you measure success?”
Lopa shared lessons from her second business venture, launched in 2001, which initially aimed to be a curry recipe-sharing site but evolved into a broader community platform. This journey led her to pivot towards e-commerce, involving market research, supplier sourcing, and hands-on selling through craft markets and pop-up shops. She identified three key lessons for success in e-commerce:
- Metadata is as critical as the data itself in an online store.
- Even the best products at the best prices won’t sell unless there is demand—can you create demand for your innovation?
- Marketing and brand building are vital, but investors prioritise product-focused aspects like manufacturing, supply, and packaging.
Building a Career in Technology
When asked how MBA graduates can harness diverse skills to thrive in roles requiring both technological and business acumen, Lopa encouraged continuous skill development:
- Practise your skill set by building things or pursuing side hustles (networks, businesses, or creative projects).
- Focus on your strengths and develop a portfolio that demonstrates your expertise, supported by testimonials.
- Stay updated with technological advancements through reading, exhibitions, and live demos.
Recognising Excellence in Enterprise
A respected authority in the business and technology sectors, Lopa is a longstanding judge for the King’s Award for Enterprise (Innovation), recognising the UK’s most pioneering businesses. Her numerous accolades include being named TechWomen100 2021 Champion of the Year and her 2024 induction into the Computer Weekly Most Influential Women in UK Technology Hall of Fame.
In her session, Lopa offered invaluable insights from her trailblazing career, her dedication to advancing diversity in STEM, and her strategic leadership across public, private, and charitable sectors. Through her experiences, she inspired the EMBAs to lead with innovation, approach challenges strategically, and remain adaptable in the ever-evolving landscape of technology and business.