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Deutsche Bourse launches 'Open Innovation' forum

01 July 2014  |  8893 views  |  0 deutsche boerse

Deutsche Bourse has launched an 'Open Innovation' forum with the aim of building a community to incubate, develop and accelerate new business ideas coming from outside the group

Open Innovation is an extension of the German Exchange's internal YouNovate programme, which invites employees and managers to send in ideas to improve and transform the way DB does business.

Running for over five years, YouNovate has seen 1457 ideas submitted, of which 105 were adopted for implementation, including ground-breaking projects such as the DB Cloud Exchange.

Eurex CIO Brendan Bradley, says: "DB has an established track record of innovation and breakthroughs in financial market technology, but to stay in the lead we need to constantly find new ways to collaborate."

The thinking behind Open Innovate is to establish a group-wide and systematic approach to the exchange of knowledge and ideas with other industries, he says.

"The idea is to 'broker new ideas' both internally and externally and seek new opportunities within the changing market environment," says Bradley. "In a fast-changing and highly competitive market, innovation is a key driver of success. To achieve our vision, we need to work with the smartest minds in the business."

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