Innovation and disruptive Entrepreneurship have become an explosive global movement. Companies worldwide either succeed in adapting by innovating or are faced with increased possibility of extinction.
INTRASOFT has formed the “New Ventures” department with a clear target to use Innovation and Intrapreneurship as the strategic enabler for sustainable business growth. Looking to extend the Company’s portfolio both through organic growth and M&As, New Ventures acts horizontally within the company, cooperating with all operational units for uncovering, fostering and driving innovative entrepreneurial activities.
INTRASOFT focuses on outside innovation while at the same time fosters internal innovation, especially in the cases that it has an intrapreneurship vision. Towards this goal, the unit is raising internal innovation and entrepreneurship appetite, while also scouting for 3rd party innovation acquisition.
- Strengthen routine innovation of existing core verticals by introducing novel key enabling technologies
- Capitalize on existing technical and business expertise, and expand into adjacent or new areas
- Achieve radical and disruptive innovation through Joint Ventures, Mergers and Acquisitions
INTRASOFT approaches Innovation from a Technological point of view, by filtering industry trends and hypes, targeting to identify the Emerging Key Enabling Technologies that affect our markets and activities. Once such an enabler is identified, the Company has a twofold mission:
- To infiltrate its existing products and services with these technologies, aiming to differentiate from the competition and most importantly, to increase its value added to its customers and partners
- To scan the market in order to identify 3rd parties (research groups, start-ups, scale-ups, etc.) and potential cooperations, remaining open and evaluating all possible models (commercial cooperation, JV, investment, M&As
Key Enabling Technology Incubation Groups
For efficiently executing the above, INTRASOFT forms Agile matrix-based teams, that penetrate both horizontally and vertically the full extent of the organization.
These, matrix-based, teams (“Key Enabling Technology Incubation Groups”) are responsible for fostering the development of relevant competences across the organization and identifying application areas and applicable commercialization models.
In this way, INTRASOFT directly benefits from its existing Business knowledge and expertise and, at the same time has INNOVATION ambassadors which greatly support on the innovation adoption once materialized to something concrete.
Such groups are now in operation for:
- AI and Machine Learning
- Operational and Information technology convergence for the Utilities
This is not a theoretical exercise. On the contrary, all the engagement is revolving around practical applications and interaction with the market and some of our key strategic customers. This is achieved by triggering fast and frequent cycles, which are based on ideas stemming through the brainstorming sessions of the Key Enabling Technology Incubation Groups and, most importantly, by frequent interactions with Company’s customer base. The Innovation sprints are executed by multidisciplinary teams that comprise of developers and business owners, customers, and 3rd parties (start-ups etc.) who contribute key relevant expertise.
The process above is considered as the key for enabling new Innovative Product or Service development and / or initiating a strategic Joint Venture, Merger or Acquisition. This is a process that has already led to several strategic initiatives, such as:
- WEMETRIX - an investment to a Financial Analytics start-up dealing with Econometrical SaaS applications
- Incelligent - an investment and strategic co-development agreement to an innovative start-up for Machine Learning and Artificial Intelligence
- iDACC - the formation of the internal innovative Data Analytics Competence Center which enables our whole organization for Big Data Engineering, Descriptive and Diagnostic analytics Services
INTRASOFT recognizes that the digitalization hype is acting both as an enabler and a disruptor. Digitalization and connectivity are accelerating technological innovation and sky-rocketing adoption of new services, as well as greatly disrupt existing business models. The Company’s target is to control the key digitalization technologies and enable its customers adapt and differentiate rather than be disrupted. Abundant computing and AI, e-Services, e-Sensing (IoT) and Blockchain are the key enabling technologies which drive the digitalization vortex (Figure 2)
INTRASOFT’s innovation scouting strategy targets to ride and harness this digitalization vortex. Consequently:
Τechnologically wise focal areas:
- Digital customer engagement channels
- Data Analytics & AI
- eMoney / Tokens / Crypto
Industry wise focal areas:
- Banking & Financials / Fintech
- Regtech / Insurtech
INTRASOFT is more than eager to cooperate with customers, start-ups and partners for initiating innovation sprints and create Proof of concepts / Minimum viable products in the above areas. Any visionary entrepreneurial #IntrasoftPeople or 3rd party is encouraged to send such proposal to firstname.lastname@example.org