Deloitte opens innovation lab at Communitech hub

Deloitte has joined a growing number of large corporations hoping to improve their innovation and productivity by sharing space with university students and start-ups at the Communitech hub in the Waterloo. Deloitte's new d { } (dee space) innovation lab opened April 23, joining firms such as Canadian Tire, TD Bank, Intel, Microsoft, BlackBerry, Canon, Manulife, Google and Christie.

"Communitech is more than an accelerator or incubator. It's an ecosystem ... and that's really what companies need to be a part of these days," says Terry Stuart, chief innovation officer at Deloitte Canada.

Stuart adds that companies like TD Bank and Canadian Tire are among just 13% of Canadian firms that are highly prepared for pending disruptive technologies like artificial intelligence and advanced robotics (see article above). The Deloitte report found that partnering with start-ups and the larger innovation ecosystem is key to preparedness.

Deloitte's 71-sq-m facility will include working space for designers and developers, a discovery zone and a demonstration area for rapid prototyping. It will offer intelligent automation, advanced wearable and digital technologies and communications networks and other applications.

Deloitte will also take part in Communitech Collision events that bring together global brands with smaller enterprises and start-ups to explore strategic collaborations, partnerships, investments and acquisitions.