Creating a hub for conjoining innovation, business and technology, addresses a gap in the market. At present day, there are a number of third-party integrators and consultants who support the market players to find one another. These have through their bespoke networks, access to experts, and subcontractors who do the engineering and development work. By establishing a hub rather owned by a wide range of investors as an open arena, short-circuits some of these closed-loop chains; bringing together ideas, skilled developers and potential for financing. Therefore the purpose to establish such a function is four-fold;
- Exposing emerging ideas and new technology to new markets.
- Identifying competencies within areas relevant to technology start-ups.
- Allowing venture capital to come in earlier by diminishing or eliminating aspects of technology and market risk through experimentation and full-scale testing and exposure to designated target groups foremost in the hub’s network of “friendly” companies.