Epson Partners with Runway to Drive Digital Transformation & Build an Innovation Ecosystem

SAN FRANCISCO, Aug. 26, 2021 /PRNewswire/ -- Seiko Epson Corporation (referred to below as Epson) is working with San Francisco-based Runway Innovation Hub to foster an innovation mindset, identify cutting-edge technology startups for piloting and partnership, and build strong relationships with the global innovation ecosystem.

Epson is on a mission to address unmet customer needs through its Open Innovation Program. As an experienced partner in corporate innovation consulting and startup engagement, Runway was selected to translate global trends into business opportunities and scout startups.

"Our partnership with  Runway has given us the opportunity to understand the Silicon Valley mindset and efficiently gain exposure to innovative startups," stated Junkichi Yoshida, COO of Epson's Printing Solutions Division.

Yoshihiro Nakami, General Manager Epson DX Strategic Planning described, "Runway plays an important role in Epson's worldwide innovation network. Their expertise in creating an innovation process for Epson and breadth of startup connections has accelerated our speed to pilot. We look forward to continuing our partnership." 

Runway's team of seasoned  analysts and technology researchers have nurtured Epson's startup partnership pipeline throughout the pandemic. Despite the global events of 2020, Runway and the Epson DX Open Innovation team have achieved strong results, including:

• 78 startups scouted, analyzed, and evaluated
• 22 startup meetings & demos sessions from over 6+ countries around the globe
• 11+ partnership discussions

"Epson and  Runway have established a trusted partnership. We work very closely with the Runway team and they understand our strategic business goals. Together we are transforming step-by-step the internal mindset along with Epson's future business." – Akihisa Obara, Epson Senior Expert and DX Project Management Lead.

One successful example is the collaboration with Avatour, a startup developing a remote collaboration platform designed to conduct meetings including for training, inspections, and other site-specific meetings. The company's software allows users to share a real place where they can see the entire environment at 360° and interact with each other, thereby enabling remote users to effectively participate in site meetings and save time and money.

Jack Rieger, Director Digital Innovation Epson America explained, "We recognize that we don't have good visibility to everything that is out there, so working with a firm like Runway introduced us to unknown possibilities.  We look specifically for startup or corporate partners that can help us open up new markets, enhance the value proposition of our product, and grow our business in a significant way".

Epson is seeking collaborations with innovators to co-develop solutions for remote work, distance learning, digital collaboration, stay-at-home and remote manufacturing to support its current and future customers as the world is forever impacted by the global pandemic.

Epson and Runway are continuing a strong partnership into 2021 and look forward to sourcing high-quality startups and technologies for successful piloting and business unit integration. If you'd like to collaborate, please use the links below to learn more.

About Epson:
Epson is a Japan-headquartered manufacturing company which provides printing solutions, visual communications, wearable products, and industrial solutions. Since 1942, Epson's DNA has continued to embody the idea of efficient, compact, precision technology, and now their IoT hubs enable customers to access this whenever and wherever you are. Epson is helping their customers in education, tourism, healthcare, and disaster prevention tackle the challenges. By providing timely solutions to issues, they create customer-centric long term relationships, offering continuous support in solving social issues. Learn more at https://openinnovation.Epson.com/en/ .

About Runway:
Runway is a Silicon Valley innovation company accelerating the success of global corporate innovators and technology entrepreneurs.  Runway has worked with 40+ global corporations to drive innovation results by uncovering new trends and opportunities, scouting cutting-edge startups for strategic partnership, investment or acquisition, and successfully piloting new business concepts. Alongside its consulting practice, Runway incubates early stage startups across 20+ industries. Runway's 350+ startups have done extremely well – they've raised a combined $2.5B in VC money and 53 have successfully exited. Learn more at https://runway.is/corporate-innovation/ .

SOURCE Runway Innovation Hub

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