Lessons Learned 2023: Collaboration and Knowledge Sharing drive the impact of REDDI Colombia's management

The year 2023 was a period of valuable learning for us. In an increasingly interconnected world, we highlighted the importance of collaboration and knowledge sharing as fundamental pillars for maximizing the impact of our work. As a result, we had the opportunity to establish strong connections with diverse institutions and organizations, with collaboration being the key word for several key achievements. Strategic partnerships with value-generating stakeholders have been invaluable in our mission to strengthen the science, technology, and innovation ecosystem. These alliances have not only enriched our internal dynamics but have also significantly contributed to developing connections that strengthen the innovation network in which we are embedded. Sharing knowledge has become a central element of our philosophy, creating an environment conducive to the flourishing of innovative ideas that inspire us to go even further in 2024.

Challenges 2024: Fusióni360 – The Platform that will drive Open Innovation

The launch of the Fusióni360 Platform will be a milestone in our journey toward excellence in innovation management. This virtual space is designed to be a catalyst for collaboration among the various stakeholders in the ecosystem: from universities and researchers to companies and entrepreneurs.

What does the Three Horizons technique consist  of ?

Based on official information from various entities and data collected by each of the beneficiary companies during the workshop, the SMEs will generate portfolios of needs, opportunities, and problems. This will allow them to make short-, medium-, and long-term decisions that will form the basis for establishing the innovation challenges they will work on with partner universities in 2024. 

1. The platform will allow participants to become Reddi affiliates, thus consolidating a dynamic network of brilliant minds committed to advancing knowledge and promoting innovation.

2.  Universities will be able to share their research and researchers will find like-minded collaborators.

3.  Companies will have access to innovative solutions, and entrepreneurs will find the necessary support to make their projects a reality. 

 

The synergy resulting from this digital space will be a driving force for the transformation of the innovation ecosystem.

This platform is not only an advanced technological tool, but also a meeting point where diverse perspectives and the fusion of knowledge will give rise to game-changing ideas. Fusióni360 will not only facilitate connections between stakeholders, but will also enable the collaborative development of solutions that address the most pressing challenges facing our society.

2024 Expectations: Leading Innovation in the Pacific Region

Looking ahead, our expectations for 2024 are ambitious and focused on leading initiatives that foster innovation and technology transfer in the Pacific region. 

We will collaborate closely with key players such as the governor’s office, the mayor’s office, the chamber of commerce, and other institutions that support business growth through innovative solutions to challenges.

We will be a driving force for progress in the region, working closely with government and business entities to identify and address the most pressing challenges. Innovation will not only be a goal, but an integral strategy for sustainable development and continuous improvement.

The creation of innovative projects that arise from collaboration between the public, private, and academic sectors will be essential to building an environment conducive to innovation. We seek to be catalysts for positive transformations, generating a tangible impact on the economy and quality of life in the Pacific region.

In conclusion, 2023 has been a year full of valuable lessons, preparing us to enthusiastically embrace the challenges of 2024. With the Fusióni360 platform and our focus on leading innovation in the region, we are firmly committed to contributing to the development of a vibrant and dynamic ecosystem that drives progress and prosperity. Collaboration and knowledge sharing will continue to be the cornerstones of our journey toward excellence in innovation management.

Connect with us to be part of each of these challenges and advances that we will achieve in 2024! 

Environment and horizon, the exploration of Fusióni3 Valle SMEs in their face-to-face workshop

The 20 MSMEs benefiting from Fusióni3 Valle fulfilled their participation in the first Face-to-Face Workshop Become a strategist: Define the needs, opportunities and problems of your business, which was recently held at the Pontifical Javeriana University Cali and at the Cali Chamber of Commerce.  

Through dynamic methodologies, known as Alexander Osterwalder’s Zoom Out and McKinsey’s Three Horizons, which were guided by the coordinator of University-SME Connection, Johana Oliveros, the entrepreneurs were able to relate the data previously collected in the virtual workshop Start by knowing your environment to define your innovation challenges with the economic context of their businesses, which allowed them to strengthen ideas and acquire new perspectives. 

In the case of the Zoom Out exercise, the entrepreneurs put the main aspects of their environment on a canvas: such as trends, macroeconomic forces, market forces and industry forces in which their companies operate, in order to analyze those that have the greatest influence on their businesses. 

Using the Three Horizons technique, opportunities were identified by considering the time and resources required to implement them. For example, those that can be easily addressed or applied to existing products or services, those that would be developed in the medium term, and those that require greater investment or exploration. 

The Three Horizons concept is a strategic tool developed by McKinsey & Company to help organizations manage innovation and growth in the short, medium, and long term. It was popularized in the book The Alchemy of Growth, written by Mehrdad Baghai, Stephen Coley, and David White.

What does the Three Horizons technique consist of? 

This presents 3 time perspectives on which a company focuses its strategy:
 
1. Horizon 1 (H1): Focus on the core business and existing operations. It involves activities and projects that generate short-term results and improve efficiency and effectiveness.
2. Horizon 2 (H2): This focuses on expanding and extending the current business and includes initiatives that will generate results in the medium term. It includes the introduction of new products or services, expansion into new related markets, or significant improvements to existing operations.
3. Horizon 3 (H3): This focuses on radical innovation, new business creation, research, and the development of opportunities that can transform the company in the long term. It involves exploring emerging technologies, identifying new revenue streams, and creating new lines of business.
 
Successful management involves a balanced portfolio of initiatives across all three horizons to ensure continuity and adaptability as the business environment evolves.

Interaction and visualization of the future 

One of the workshop’s defining characteristics was its dynamism. From the introductions among participants, who spoke about the topics that motivate them or make them happy, to the use of tools like paper and markers to record their findings, and the close support of the Fusióni3 Valle team, everyone felt comfortable and confident sharing concerns, receiving suggestions, and proposing new ideas.  

“There was a lot of anticipation among the business owners about how this workshop would help them define their innovation challenge. It was very satisfying, because many told me they weren’t familiar with the methodologies or had only seen them in master’s programs, which means we’re providing them with valuable information to begin developing their innovation challenges,” said coordinator Johana Oliveros. 

Likewise, it was evident how all the attendees analyzed each topic, were immersed in the exercise, and found aspects that they had not considered before their participation in the project.  

“Throughout the activity, which lasted four hours, the entrepreneurs organized information, generated some useful strategies and defined needs, opportunities and problems in a more conscious way or that perhaps they had not previously recognized.” 

What’s the next step? 

From now on, the University-SME Connection Coordination will produce a report that takes into account the needs, opportunities, and challenges of the sectors to which the SMEs belong. This report will be based on official information from various entities and on data collected by each of the beneficiary companies during the workshop. This will generate portfolios of needs, opportunities, and challenges, enabling them to make short-, medium-, and long-term decisions that will form the basis for establishing the innovation challenges they will address with partner universities in 2024. 

Stay connected with our activities! We’ll have much more for everyone in 2024. 

Exploring the Terrain: Entrepreneurs from Fusióni3 Valle del Cauca delve into their First Innovation Analysis

Entrepreneurs benefiting from the Fusióni3 Valle project have begun the process that will lead them to identify and overcome their main challenges in the field of innovation.

On this first occasion, they adopted the Business Model Canvas methodology, led on November 20 by Johanna Oliveros, coordinator of the University-MiPymes Connection.

In the virtual session, titled “Start by Understanding Your Environment to Define Your Innovation Challenges,” the importance of thoroughly understanding the environment of each SME was emphasized, exploring its needs, opportunities, and problems. This in-depth knowledge serves as the foundation for defining the challenges that each company faces.

The participating entrepreneurs connected using a pre-completed format of the Business Model Canvas, which provided them with a valuable strategic basis for analyzing and managing their growth opportunities.

During the session, coordinator Oliveros detailed each component of the model, its importance, and through examples, illustrated how factors such as customer types, contact channels, and value proposition can be fundamental to identifying opportunities and establishing unique business challenges.

“It is very important for entrepreneurs to have a clear understanding of their environment, as this allows them to recognize the needs of their customers and create products and services that are significantly cutting-edge. Furthermore, these spaces at Fusióni3 Valle are designed to provide them with tools to innovate in a more methodical and less intuitive way,” said Oliveros.

What is the Business Model Canvas?

The Business Model Canvas is a visual tool that provides a holistic and simplified view of the key components of a business model. This model is presented on a canvas or plan divided into sections that represent the essential aspects of any business.

Components of the Canvas Model:

• Customer Segments:  o Identifies the groups of people or companies that the company targets.

• Value Proposition:  o Describe the products or services you offer and why customers should choose them.

• Distribution Channels:  o Indicates how the company delivers its products or services to customers.

• Customer Relations:  o Describe how the company interacts and connects with its customers.

• Sources of Income:  o Detail the ways in which the company generates income.

• Key Resources:  o List the essential assets to make the business model work.

• Key Activities:  o Identify the essential actions to execute the business model.

• Key Partners:  o List the collaborations and strategic alliances necessary for success.

• Cost Structure:  o Details the expenses necessary to maintain the business model.

Why is it so important for entrepreneurs?  The Business Model Canvas is crucial for entrepreneurs for several reasons:

  • Holistic Vision:  Provides a complete and easy-to-understand view of all key aspects of a business on a single page.
  • Opportunity Identification: Facilitates the identification of opportunities for improvement and growth by visualizing the interconnection of business components.
  • Effective Communication: o Simplifies internal and external communication by offering a clear visual representation of the business model.
  • Flexibility and Adaptability: Allows for quick adjustments and changes in the business model, in response to market dynamics.

Face-to-face meeting: Defining Needs, Opportunities, and Problems

 

On November 29 and 30, entrepreneurs will be divided into two groups to participate in a face-to-face session focused on defining Needs, Opportunities and Problems (NOP) in their business environments and sectors.

This activity will also serve as a meeting point for the participants, giving them the opportunity to get to know each other better and interact with the Fusióni3 Valle coordinators. These coordinators will be present to address questions and propose alternatives, collaboratively moving the process to a later stage.

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Learn about the impact of collaboration between universities and industry in the creation of spin-offs, an article written by Ángela Castro

At Reddi, we are proud to have top talent! Ángela Castro, Master in Industrial Engineering with a specialization in technology and knowledge management and transfer, has published an article in Heliyon, one of the world’s highest-impact journals (Q1). This article examines the importance of collaboration between universities and industry as a key factor in the creation of university spin-offs. A remarkable achievement that reflects the commitment and excellence of our professionals at Reddi!

Read the full publication here

This study has revealed that collaboration between universities and industries is key to unleashing a wave of innovation and business growth. Researchers analyzed data from 108 universities and found compelling evidence that these partnerships play a crucial role in the creation of technology companies, known as spin-offs, within the university setting.

This transfer of knowledge for the development of the industry is of great importance thanks to its enormous potential to significantly impact the country’s economic development.

What is a spin-off?
In a business context, a spin-off refers to a new company that separates or “spins off” from an existing entity, typically a university, parent company, or research organization.
This new, independent entity, known as a spin-off, is created to develop and market products, technologies, or services derived from the intellectual or technological assets of the parent organization.
In the academic sphere, spin-offs often arise from research and technological developments conducted within the institution. A group of researchers or entrepreneurs decides to create a separate company to bring these discoveries to market and leverage their commercial potential.
In short, a spin-off represents a strategy to capitalize on and commercialize the research, innovation, or intellectual assets of an existing entity by creating a new, independently operating company to bring these advancements to market. These new companies often seek to innovate and generate value in specific industries by leveraging the knowledge and technology acquired from the parent entity.

Using statistical methods, researchers empirically examine the impact of university-business collaborations on spin-off creation from two perspectives: the number of university collaborations with different companies and the number of previous collaborations between the same university-business dyad; supporting the hypothesis that greater university interaction with different industries, especially previous collaborations, increases the probability of creating a spin-off.

These collaborations not only benefit companies by providing access to knowledge and talent, but also play a vital role in the continued growth of spin-offs in the post-launch stages. The study’s findings highlight the importance of bridging the gap between academic research and practical applications, paving the way for the development of groundbreaking new products and technologies.

The knowledge developed by our project manager has a positive impact on the knowledge transfer scenario, as it closes a bibliographic gap in research that considers the different impacts derived from the interaction between universities and the different productive actors present in society. 

These results suggest that universities and companies should take these findings into account when formulating their strategies or policies for technology transfer and innovation management, fostering university-industry collaboration.

Lee la publicación aquí

At Reddi Colombia, we are proud to have a professional with a critical and profound vision of the innovation ecosystem. For us, it is important to highlight the capabilities of our team, because thanks to them we can commit to the technological transformation and innovation of our country. 

 Get ready for a new era of collaboration and business discoveries!

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At Reddi Colombia we celebrate another trial licensing in 2023

We have exciting news to share: We present INNO technology, an innovative technology designed to eliminate odors in bathrooms, which has been licensed for testing at SKEMA PROMOTORA SA.

Within the framework of the SJTP 4.0 program, the commercial work carried out by Reddi was essential to finalize the trial licensing with the company SKEMA PROMOTORA SA, who showed interest from the first contact with the technology. 

They have decided to make their facilities available to carry out the corresponding tests, which will allow them to advance in the process of growing the technology and demonstrate its effectiveness in eliminating odors in shared spaces, such as bathrooms.

Inno will continue working on the development of its BETA prototype, incorporating the collaboration and results obtained from these tests. The ultimate goal is to achieve maximum efficiency with the technology.

We hope to continue sharing these kinds of achievements that impact the entire region.

Fusióni3 networking events foster innovation in Cauca SMEs

The second and third Connection Meetings were successfully held at the Popayán Chamber of Commerce on June 19 and 21, respectively.

These events marked a milestone in the collaboration between research groups from allied higher education institutions and the Micro, Small and Medium Enterprises (MSMEs) benefiting from the Fusióni3 Cauca project.

hese networking events achieved remarkable results, as both businesspeople and researchers showed a strong interest in establishing connections, which facilitated communication.

The central objective of these meetings was to foster collaboration between SMEs and researchers, ensuring effective interaction to promote innovative projects by identifying areas of shared interest.

To generate connections, 30-minute meetings were organized, in which semi-structured conversations were held around the idea of ​​innovation of the SME, where the research group put forward proposals or solutions according to their specialized knowledge and capabilities, generating an exchange of ideas between the parties.

The event set three clear objectives in order to promote business innovation:

It sought to foster the exchange of knowledge, promoting the transfer of information and experiences between research groups and SMEs, with the aim of boosting innovation in the business field.

Work was done to identify synergies and opportunities for collaboration, with the purpose of finding areas of common interest that would allow the joint implementation of research projects.

Finally, collaboration between companies and research groups was actively promoted, stimulating the creation of innovative projects that met the needs of the beneficiary SMEs.

The Connection Meetings represent the commitment of the higher education institutions allied with the Fusióni3 Cauca project and the beneficiary MSMEs to promote business innovation and strengthen collaboration among diverse actors in the business world. The future looks promising for the development of innovative projects that will drive the growth and competitiveness of MSMEs in the Cauca region.

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