Philips Applied Technologies founded its first InnoHub in Singapore in 2004. The second InnoHub started operating in the Helsinki area in fall 2008. It was founded in cooperation with VTT Technical Research Centre of Finland and Well Life Centre in Espoo. The objectives of the newest InnoHub are to generate breakthrough innovations for products and services in the field of well-being, healthcare and life-style. The focus will be on the clients in the Nordic and Baltic countries.
The function of InnoHub is to help companies transform their business ideas to practice. InnoHub is a service desk where ideas are turned from technical concepts into a specific plan and further tested in an open innovation environment in a real-life setting. End-users are involved in the development process
from the beginning of the project, together with product developers and business partners. Companies can benefit from InnoHub and its services by becoming a member or through ad-hoc projects.
Sources: Philips and VTT