Innovation Doesn’t Have to Come from Within
The Malaysian Insider website reported that Visa has adopted an open innovation philosophy throughout its business, including in Singapore where the Asia-base for VisaLabs research and development is located. Visa looks at sources of innovation that arise within different organizations and the industries they operate in; for example, universities and start-ups. For Singapore, this approach can allow established companies to capitalize on the expected start-up pipeline. But even beyond the start-ups, government agencies and academic institutions all provide interesting sources of new and technically-adept ideas that, in mutually-beneficial partnership with established companies, can be brought to market to positively disrupt whole industries.
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