This instrument, a fundamental part of our Open Innovation strategy, will foster new collaborations with start-ups and external agents to the company

Throughout Ormazabal’s more than 55-year history, innovation has been a key pillar of our DNA, serving as a critical lever for our sustainable growth as a company. As part of this effort, we annually invest 4% of our revenue in R&D initiatives, promoting continuous change within our organization.

This journey opens up a new horizon with the launch of our Venture Client tool: Ormazabal Startup Switch. This new open innovation vehicle aims to strengthen Ormazabal’s innovation path by identifying new start-ups and technology providers to support the company’s competitiveness through the integration of new technologies, the attraction of diverse talent, and the enhancement of the company’s internal innovation ecosystem.

Thus, this new tool will enable the creation of collaborative environments with external agents to help solve challenges and issues across the organization at a horizontal level. To achieve this, Ormazabal Startup Switch includes a dedicated website where various challenges for which we seek collaboration are posted. This publicly accessible site allows international start-ups to submit their solutions and proposals with the goal of developing a proof of concept with Ormazabal for each of these challenges.

This collaboration format presents an opportunity for start-ups looking to accelerate their growth, as it offers a testbed within a well-established company like Ormazabal, where they can test their solutions in the real world.