Software giant SAP recently opened a new tech innovation lab at its North American headquarters in Newtown Square, writes Fabiola Cineas for Philadelphia magazine.

SAP will use its Co-Innovation Lab to develop new solutions to deal with the challenges facing the digital economy. Teams working at the lab will focus on developing business applications related to emerging technologies, such as the Internet of Things and Big Data analytics.

“Co-innovation builds an agile and vibrant partner ecosystem that drives value through external expertise in digital technologies, hardware, and networks,” said Rodolfo Cardenuto, SAP’s president of global channels and general business.

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He said the launch represents a strengthening of the company’s innovative power, as well as that of its local partners, as it grows its digital ecosystem in the region. The lab will also help reduce development costs, as well as shorten time-to-market for new applications.

SAP opened its first lab in Japan 11 years ago, and this is now the company’s second one in North America, bringing the total worldwide to 15. There are also innovation labs at its global headquarters in Germany, as well as in Brazil, India, and China.

Read more about SAP’s new innovation lab in Philadelphia magazine by clicking here.

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