Startup Challenge: Launches new global innovation call with support and financing for startups
All those interested in participating in solving challenges that enhance sustainability, operational efficiency, and the visitor experience in their shopping centers, can apply until April 17th.
With the aim of investigating innovative solutions to transform the company's processes, Parque Arauco, in conjunction with the innovation accelerator INNSPIRAL, announced the open call for the second version of 'Startup Challenge by Parque Arauco'.
For this call, we are looking for startups worldwide that develop disruptive solutions focused on water use efficiency in their shopping centers, exploring new models for their parking areas, and promoting digital and physical experiences that strengthen the connection with their customers.
Parque Arauco and INNSPIRAL will select the startups that will access the funding for the technological trial of the pilot and the space for its development and implementation, in the company's facilities in Chile, Peru or Colombia. Furthermore, they will have the support of various executives from Parque Arauco and methodological guidance from INNSPIRAL.
All those who are interested in participating in the resolution of these challenges can find the rules and apply at https://www.openinnspiral.com/parquearauco until April 17th.
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Emerging Technologies in the Startup Ecosystem
"The success of the first edition of the Startup Challenge by Parque Arauco confirmed the great potential of open innovation. This is a key part of our Digital Transformation strategy and, in this second version, through the creation of an area specifically dedicated to Open Innovation, we expanded our search range for challenges to increase our support for business results and continue transforming the industry," commented Mat铆as Fuentes, Deputy Manager of Open Innovation and Venture Client at Parque Arauco.
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He added, "For this, we seek emerging technologies from the startup ecosystem that improve our profitability, end customer and lessee experience, and enhance the sustainability of our shopping centers, through measurable impacts."
"The Venture Client model is not just a trend, but a key strategy for accelerating the transformation of large companies through innovation in collaboration with startups. At INNSPIRAL, we have supported Parque Arauco in consolidating its open innovation approach, connecting it with world-class startups to solve strategic challenges," commented Ricardo Cea, Partner and Senior Project Manager at INNSPIRAL.
"This new edition of the Startup Challenge by Parque Arauco reinforces the commitment of both companies to the agile adoption of emerging technologies and the creation of tangible value for the business and the retail real estate industry," Cea said.
Startup Challenge Success in 2024
In its previous edition in 2024, more than 100 startups from 14 countries around the world participated, venturing into challenges related to strengthening the relationship with the end customer and increasing energy efficiency in shopping centers.
On this occasion, four selected startups developed pilots in malls in Chile, Peru and Colombia. Those from Chile and Uruguay u2014Bluetek and KSI Visionu2014, had significant impacts on operations. The first one allowed a 30% reduction in energy consumption and a decrease of 4.5K kg of CO2e in the carbon footprint at Parque La Colina (Bogota), while the Uruguayan company implemented a digital twin at Megaplaza Independencia (Lima), optimizing customer analytics and the impact of marketing on sales initiatives.
Thanks to the implementation of this program and other initiatives, Parque Arauco has been recognized as one of the leading companies in the adoption of the Venture Client model in Chile, achieving eighth place among 40 companies in the Venture Client Chile 2024 Ranking, compiled by MIC Business Consulting in partnership with the ESE Business School and El Mercurio.
In addition, it has strengthened its presence at key events within the ecosystem, sharing its experience working with startups at gatherings such as EtMDay Santiago and Real Estate Innovation by Proptech Latam. Simultaneously, it has established strong collaborative networks with corporations and organizations in the sector, promoting the exchange of learning and best practices in innovation.