The ever evolving digital technologies are enabling startups to come up with new business models and disrupt the traditional ways of doing business. For traditional businesses to continue being on the growth curve, it is rapidly becoming vital to incorporate digital technologies in to their core business. Realizing the potential threat from startups, a free trade zone association collaborated with us to design and establish an open innovation model based Co-work and Co-innovate (Innovation center) in order to grow in size and create ecosystem resilience.
Our group of mentors from commercial real-estate, our global leaders and visionaries who have run successful startup accelerator programs worked with FTZ to design an innovation center catering the needs of companies under the FTZ. The solution was based on Tholons five pillars of innovation that brings in Global Technology Assets, Strategic Partners, Corporate Accelerators, Clients and Venture Capital Firms to create transformational digital solutions. The innovation center was operational in five months.
• Increased profitability of FTZ companies
• Helped companies to adapt to technological changes
• Helped FTZ to grow in size giving a competitive edge
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