In a strategic move, Wazoku, a prominent innovation scale-up, has acquired German R&D partnership platform PosterLab. The platform is pivotal in scouting, managing, and collaborating with various innovation partners. These include start-ups, universities, corporates, and more.
About the companies
Wazoku, known for aiding global giants like NASA and HSBC in scaling innovation, has been expanding through acquisitions. The integration of PosterLab is part of this growth strategy. PosterLab, founded in 2019 by Sébastien Charles & Santiago Porta, focuses on making R&D partnerships successful. Its clients include BASF, Zeiss, and Saarland University.
Strategic significance
Simon Hill, CEO of Wazoku, highlights the importance of effective partnership management in innovation. He emphasizes PosterLab’s role in enhancing Wazoku’s capabilities. “An innovation eco-system is integral to successful innovation,” he said. He pointed out that PosterLab addresses challenges in tracking and managing innovation partnerships.
Expanding innovation capabilities
This acquisition, Wazoku’s second in 2023 and fifth since 2020, follows their January acquisition of Idea Drop. PosterLab’s platform offers clear visibility of partner ecosystems. It allows for effective management and knowledge transfer among innovation partners. The integration of PosterLab into Wazoku’s product suite is slated for Q2 2024. It will be relaunched as Wazoku Company Portal.
Posterlab’s vision & impact
Sébastien Charles, co-founder and CEO of PosterLab, underscored the high failure rate of R&D partnerships. He noted that “Up to 70% of R&D partnerships fail or do not fully achieve their set goals.” PosterLab aims to ensure the success of such partnerships from the start.
Wazoku’s growth and future plans
Wazoku’s rapid growth is attributed to the increasing need for innovative solutions worldwide. The company is dedicated to expanding its innovation proposition. “As the world grows more volatile, it needs more innovative solutions to its many challenges,” Hill remarked. He sees PosterLab as a market leader, boosting Wazoku’s enterprise offering. This acquisition promises to streamline the process of scouting and managing innovation partners for their clients.
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