SOSA is a global open innovation company. We believe in building strong relationships within the tech ecosystem and even stronger cross-vertical open innovation programs.
By identifying advanced technology solutions and innovative models, we’re working with corporations and public entities to implement solutions that generate business growth and successful digital transformation. Since opening the doors of SOSA’s Tel Aviv HQ in 2014, we’ve since established locations in New York and London to support our global open innovation activities.
Our clients include multinational corporations including Schneider Electric, HP, SwissRe, RBC, Rafael, Tokio Marine. We also worked alongside agencies at a national level, including the Australian Government, CNI (The National Industry Confederation in Brazil) and the Basque Government. Our modus operandi partnerships usually involve long term programs in which we explore the entire innovation funnel; from designing strategy, all the way to successful digital transformation.
Whether it’s optimizing operations, reducing costs, or developing new products and services, we actively scout for results at SOSA that solve real-world problems expediently.
How did the company start?
SOSA was actually born with a somewhat different mission to the one we have today, launching a members’ club and co-working space for the tech community in Israel. Back in 2014, these concepts were pretty new to the market, with SOSA quickly gaining lots of traction and a strong brand reputation as a result.
In the meantime, the Open Innovation practice and trend became a common one and a top priority for almost every large organization around the world.
Due to SOSA’s unique positioning in the tech ecosystem, large corporations started approaching us to see how we can help them gain access to relevant technologies by cutting through the noise and curating deal flow with the most relevant solutions for their business. Our first clients included giants such as Siemens, ENEL and HP and since the beginning of 2016 we’ve been building our Open Innovation practice, hiring analysts and innovation professionals and building and maintaining our proprietary database of technologies.
Today, we serve dozens of the world’s leading corporations and support some of the deepest digital transformation processes by generating dozens of successful implementations each year.
What advice would you give to other aspiring entrepreneurs?
Don’t get attached to legacy activities as the world changes fast and so should your offering and business model. If that wasn’t clear till now, COVID-19 has made it crystal clear.
You will be surrounded by many smart people – investors, mentors, colleagues and so on, but your venture is your business and you should trust your intuition on the business you want to build, the values you believe in and the people you want to work with.
Find a good partner/s, someone that shares the same values but complements your skills – entrepreneurship is a tough and lonely journey, so having someone who fits well alongside you can make all the difference.
What can we hope to see from SOSA in the future?
As it becomes clearer that open innovation is crucial for a company’s future growth and success, SOSA will keep expanding globally. We will continue to impact corporations who need curated access to proven solutions, reaching more startup ventures, and adding them to our global network of business opportunities.
An interview with Uzi Scheffer, SOSA CEO, Originally Published on TechRound