FREMONT, CA: Accenture announces the launch of Open Innovation Initiative in Japan to connect various stakeholders including global businesses, academia, startups, and the local community to support client’s growth and fulfill the agenda of the community. The initiative targets to become a central hub for open innovation in Japan by bringing in technologies, ideas, talents, and information under a roof.

Technological advancements in recent years have led companies, institutions, and individuals to advent innovative products and services. Many companies struggle to find suitable digital technologies and partners to achieve their growth strategies and to harness the advantage of innovation. New ecosystems transcending the boundaries of industries and organizations must be developed to utilize the benefits of rapid and wide-ranging propagation of digital technologies in the society.

The Accenture Open Innovation Initiative gathers ideas and cutting-edge innovative technologies throughout the world, by startups, academia, and emerging technology companies and identifies the most promising solutions to support the clients, advance in business. The various Open Innovation Initiatives throughout the world by the Accenture enables to tap the technologies and ideas of the global startups, and filter and catalog them on an ongoing basis.

The initiative creates a system of synergy between the various stakeholders through a close working relationship with global centers on the basis of knowledge and information.

The initiative gives complete support to drive innovation. It helps to create new business strategy and models, business plans and pilot experience and supporting new organizations and businesses to be launched. The advancement in collaboration between the major companies and startups will have a growth potential of 94 billion dollars equivalent to 1.8% of Gross Domestic Product (GDP) in Japan, as per an Accenture’s research work.

The initiative enables Accenture to support the companies launch and grow in their business by improving its abundant track record and know-how in management strategies it possesses.

The Accenture Open Innovation initiative will engage in a proactive dialogue with Non-Profit Organizations (NPOs), educational institutions, government, and companies to identify latent agendas and facilitate opportunities for community members to assume leadership roles in addressing the challenges.

To promote the digital technology adoption by businesses and organizations, Accenture Open Innovation Initiative is working together with Accenture digital that promotes digital businesses including digital marketing, the mobile business, and analytics.

“For corporations and organizations to ensure long-term success, they must apply digital technology to all of their businesses, and also form broader ecosystems through cooperation with external stakeholders to achieve speedy and sustained innovation”, says Yoshinori Tachibana, Managing Director, Accenture Open Innovation Initiative, Japan. “Today, open innovation is garnering attention throughout the world as one of the keys for sustained innovation. In lights of this, I am very pleased we were able to establish an initiative that consolidates the required functions for creating innovation in Japan.

Accenture will serve as the lubricant for creating innovation between numerous corporations, communities, educational institutions, and venture capital firms to contribute to driving innovation in Japan.”