Facilitating business success through an innovation ecosystem

Deloitte China announced today the official opening of its first Greenhouse in Shanghai at a special salon event, with the theme: “Sensing, Strategy, Success”. Inside the Deloitte Greenhouse, the firm will seek to help companies build a win-win ecosystem by leveraging its Speed SET, a revolutionary model which facilitates the generation of innovation ideas and solutions.

“Deloitte has always been led by our purpose: making an impact that matters for our clients, people and society. Creative innovations are the keys to success in view of the rapid development in science and technology, as well as the fast changing business environment. Today, Deloitte China has established its first Greenhouse, which demonstrates the firm’s commitment as a leading professional services provider and our ‘High Value, High Tech, High Touch’ business vision. We endeavour to create high value and provide top quality services and experiences to our clients and society by leveraging cutting-edge technologies,” said Patrick Tsang, CEO of Deloitte China.

Innovative entrepreneurship has become increasingly important in China on the back of the national policy, which encourages mass entrepreneurship and innovation, and seeks to build Shanghai as one of the world's major science and technology innovation centres. Deloitte believes that innovation will be elevated to the next level in China, moving from the current focus on gradual optimization of existing business models towards a disruptive development which rides on innovation to re-define our business model. Instead of relying on and exploring internal resources and ideas, innovation will increasingly be driven by the integration of resources within and outside an organization to create a win-win ecosystem.

“Speed SET is a disruptive model which facilitates the building of a win-win innovation ecosystem,” said Dora Liu, Eastern Region Managing Partner of Deloitte China, “‘Speed to Sense’ means that the innovation ecosystem can help us obtain better insights into emerging technology in a more effective manner, which can be used for a more in-depth industry analysis. ‘Speed to Engage’ refers to facilitating connection and integration of resources within the ecosystem. For instance, large companies can get access to emerging technologies, which will enable them to upgrade their business models; start-ups would receive guidance on government policy and will be connected to various resources; prototype concepts from universities and scientific institutions can be tested in the market; the government can promote business and foreign investment. All these benefits are shared within the ecosystem and can lead to further innovation and entrepreneurial transformation and that’s what the innovation ecosystem is all about. Apart from that, Deloitte has also designed a series of innovation labs such as Digital Lab, Leadership Lab and Alignment Lab, to provide customized incubation services. In the process, moreover, we believe that the most important step of all is to commercialize the innovative products, and the ecosystem can provide a lot of support in this respect. That’s also what we refer to as ‘Speed to Transform’.”

In addition to providing customized innovative experience for our clients, the Greenhouse is also part of our plan to establish the entire Deloitte Shanghai office at KIC into a science and technology innovation centre. It brings together team members from different service lines at Deloitte who specialize in the technology space, such as digital, blockchain and data analysis. This will not only improve the interaction and collaboration among our technology experts in different service lines but enhance our service capabilities to support clients from incubation of innovative ideas to technology implementation.

“Deloitte Greenhouse provides oxygen to the generation of creative ideas and solutions. In fact, we have established a global network of Deloitte Greenhouses in 39 cities and 21 countries,” said Steven Feng, Leader of Deloitte China Innovation Program and Greenhouse Project. “Our service is designed for our clients to experience an inspirational journey within a deep dive environment, which is supported by the ‘five-stage’ thinking methodology of Deloitte, as well as high and interactive technology.”