AYALA established a unit whose mandate is to systematically investigate “new” spaces, that may be unexplored but could be filled with potential, a company official said.
“We now have Ayala Innovation—a think-tank and center of excellence within the corporate center that coordinates many innovation teams across the Group, as well as with our external partners,” Jaime Augusto Zobel de Ayala, chairman and chief executive officer of Ayala Corp., said during the Inclusive Innovation Congress on Thursday.
Ayala added, “This unit is guided by an Advisory Council, composed of the innovation leads across all our businesses.”
The official also said Ayala Innovation is mandated to perform three key functions: First, the unit monitors emerging technologies, market trends, and behavioral shifts that may impact our businesses—either as opportunities or threats.
“Secondly, the unit brings together capabilities across our Group, to develop new business concepts and facilitate synergy projects between our business units. The unit also hosts inter-company learning and thinking sessions, market-discovery studies, and a variety of fora and workshops, to continuously catalyze innovation thinking and activity,” he said.
Most importantly, it helps us unearth new business opportunities, usually in unexplored but potentially high-growth spaces, Ayala said.
The company will hold group-wide innovation conferences including an “Innovation Olympics” and annual Innovation Summit, called Spark.
“The summit brings together the Ayala Innovation community and external experts to surface insights; elicit critical thought; and inspire the community to keep the innovation spirit aflame,” Ayala said.