In cooperation with entrepreneurs and through a global network of digital and industry expertise, Danfoss will develop and test new digital business ideas with the help of global experts. The competence center for digital solutions and business models is located in Berlin, the European Silicon Valley.
With the purpose of boosting the development of new digital products even further, Danfoss will move its innovation activities from their usual internal framework into a true start-up environment consisting of international entrepreneurs and with access to a global network of digital and industry expertise.
The new competence center is located in Berlin, Germany, and the initiative is an important part of Danfoss’ digital transformation, which includes the development of Connected Products & Services to create new growth opportunities. Each of the four Danfoss segments will use the hub to develop and test new digital business ideas and models utilizing the opportunities within Connectivity.
“Speed and focus are vital in our digital transformation. With this new initiative, we want to fast-track the testing and development of new viable business models. The new hub offers a fast process in a start-up environment with access to a global network of digital and industry expertise. This will allow the team of Danfoss experts to focus 100 percent on testing the digital business hypotheses supported by global experts,” says Kim Fausing, Danfoss COO.
The Digital Business Acceleration Hub introduces a new approach to rapid business development, which will be limited to 12 to 16 weeks. The first wave is ongoing, and more will follow. For each round, four teams – one from each of the Danfoss segments – will go to Berlin to test digital business ideas. Each segment will have individually defined business ideas, and different approaches to the projects. But, the teams will work under one roof to enable collaboration.
“This investment will support our digital transformation and the development of Connected Products & Services in particular. I am convinced that this move will lead to new Danfoss solutions with a major potential, which can help drive profitable growth,” says Kim Fausing.
The new competence center has been set up in cooperation with two external partners: Rainmaking Loft Berlin and Deutsche Ventures. Rainmaking Loft Berlin is an international start-up environment, run by entrepreneurs, and Deutsche Ventures is a small group of consultants specialized in supporting and developing innovative high-growth businesses, including facilitating and providing access to a network of global digital and industry expertise.