lab of tomorrow. Innovation Process for Sustainable Business Models
Sustainable Business in Developing and Emerging Countries
The lab of tomorrow (lot) is a method that serves to systematically develop sustainable and innovative products and services that address development challenges in developing and emerging countries. A lot program relies on the expertise and resources of the private sector. Private sector companies that are participating in a lot process work in individually assembled teams, to develop needs-based solutions that are marketable, independent of long-term financing and have a positive impact on sustainable development. These teams then are also supported by experts from research, politics and civil society. Through lot programmes, numerous products have been developed and established on the market. Notable examples include those of Wingcopter and MaishaMeds.
The lab of tomorrow is part of the AWE project development component.
Creating Innovations, Limiting Market Risks
Each lot program aims to overcome identified challenges in a country or region by developing needs-based products or services. To this end, the participating companies have access to dedicated professional support, and market and needs analyses. In this way, the teams can develop viable solutions within a short period of time and place them on the market. Investments of more than 100 million euros have been raised for this phase of a lot program.
A lot program typically involves 20 to 40 specially selected companies.
To date, 24 ventures have emerged from the 20 or so lot programs, 15 of which are already active on the market.
Opportunities For Companies and Investors
Among other things, companies benefit from access to new markets and the opportunity to further develop their product portfolio. They strengthen their network through contacts with business, research and politics. At the same time, they contribute to the socio-ecological and just transformation.
Through the lab of tomorrow, investors, accelerators, and product development programs gain access to innovative start-ups and established companies.