Idea management scale-up expands international reach via partnership that combines local market expertise with global technology
London, United Kingdom. 19 November 2020 – Idea management software and services firm Wazoku is partnering with innovation consultancy Schumpit, extending Wazoku’s recent international expansion into Spain, Catalonia and Portugal.
Schumpit will work with Wazoku across Iberia, as large enterprises there are increasingly looking to adopt a more innovative approach to business, with the market demanding more and growing pressure to differentiate and be more agile brought about by the Covid-19 pandemic.
Schumpit works with many of the largest companies in Spain, Catalonia and Portugal, including Parlem Telecom, Catalonia’s leading telco, and a range of manufacturers, retailers, pharmaceuticals and public sector organisations. Its approach is based on helping businesses during growth and transformation processes and focusing on innovation and how to achieve it.
“Schumpit has earned a reputation as one of Southern Europe’s most highly-regarded innovation consultancies and it’s the perfect partner for us with which to continue our international expansion,” said Simon Hill, CEO, Wazoku. “Innovation is a global industry now, but local market knowledge is essential and Schumpit’s expertise and experience is the perfect complement to Wazoku’s global technology platform and other services.”
Schumpit designs a bespoke methodology to address the specific needs of each client. A large element of its work is focused on the people within enterprises, working to change mindsets, break down any barriers to change and create an environment conducive to innovation.
“Companies in the region are worried – they need to change and embrace innovation but they don’t know how to do it,” said Jose Mª Felguera Garrido, CEO, Schumpit. “Innovation success depends on people, but the right innovation platform is becoming increasingly important too. Wazoku is a perfect fit for us – easy for users to work with but bringing true business value in terms of boosting innovation inside a company.”
“The recent acquisition of InnoCentive only adds to this. Our clients can now benefit from open innovation and the world’s biggest innovation community of almost 500,000 expert problem ‘solvers’. This knowledge and capability are not common in Southern Europe and we are the only company using Wazoku with our clients.”
Earlier in 2020 Wazoku acquired U.S. open innovation firm InnoCentive. Wazoku also recently partnered with Latin American innovation consultancy Transforme, bringing idea management and open innovation to Latin America via a standalone white-label version of Wazoku’s platform. This combination of the best of global technology, proven approaches for success at scale, with local expertise has proved effective in Latin America, with several new client wins already secured.
“Wazoku already works with leading Spanish companies such as Telefonica and Tolsa and with this partnership we can grow our footprint in Iberia even further,” added Wazoku’s Head of Spain and LATAM, Schønning Eysturoy. “Schumpit knows this market as well as anyone and together we can help more organisations address strategic challenges via the use of integrated open innovation and idea management capabilities.”
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