Tradeshift Launches Frontiers Innovation Lab and Incubator to Drive Supply Chain Innovation
DAVOS, Switzerland–(BUSINESS WIRE)–Tradeshift, the world’s largest business commerce platform, today announced the official launch of Tradeshift Frontiers. Frontiers is an innovation lab and incubator directed at exploring and transforming business networks, supply chains, and global trade through the application of emerging technologies such as artificial intelligence, distributed ledgers and the Internet of things. Frontiers will also engage in business development enhancing partnerships to drive commercial goals.
“Our goal is simple and singular: To significantly impact B2B commerce and global supply chains in the next 5 years,” said Gert Sylvest, co-founder and GM Frontiers, Tradeshift. “We will leverage emerging technologies to make trade more inclusive, empowering, transparent and sustainable.”
Many tech companies have R&D labs and centers with closed doors. Tradeshift has structured its lab to encourage knowledge sharing that is global and distributed in nature—and open to partners across all walks of life, Sylvest explained. Tradeshift’s open, network- and ecosystem-oriented philosophy is essential for this endeavour.
“With Frontiers, we aim to bring the transformative potential of these technologies into the hands of every company in the network, no matter their size or role in the supply chain,” Sylvest said. “That also means unlocking greater value for small businesses and their trading partners to bring them on equal footing with the companies that dominate the digital supply chains today.”
Blockchain is among the first focus areas for the Frontiers lab initiative. Last October, Tradeshift joined the Hyperledger project as a governing member. The collaboration will bridge blockchains to the Tradeshift platform and help drive industry-wide impact. In commerce, every interaction between trading parties is subject to questions about trust and transparency. Blockchains, in essence, enable new incentive models to collaborate across the supply chain.
“The use cases we’re working through Frontiers cover a very wide variety of themes, including supply chain financing, asset liquidity, and supply chain transparency,” Sylvest said. “There is so much more potential than just cryptocurrencies.”
In the coming months, expect to see prototypes, apps, and services that highlight the potential of the future Tradeshift platform.
Founded in 2010, Tradeshift is the world’s largest business commerce platform that connects buyers and sellers. Tradeshift connects over 1.5 million companies across 190 countries, is on track to process over half a trillion USD in transaction value, and has a marketplace containing 28 million SKUs. It offers solutions for procure to pay, supplier engagement and financial services, and enables companies and partners to build custom or commercial apps on its business commerce platform. Tradeshift is headquartered in San Francisco, with offices in Copenhagen, New York, London, Paris, Suzhou, Tokyo, Munich, Frankfurt, Sydney, Bucharest, Oslo, Stockholm, and Kuala Lumpur.