New Verizon Innovation Facility Graces Singapore

New Verizon Innovation Facility Graces Singapore

SINGAPORE – No one is aloof to the fact that Singapore is being considered the hub of coworking spaces nowadays and has seen a big rise in these spaces over the years. Today, it was revealed by Verizon that they would be opening a new Verizon Innovation Community in Singapore, which will be managed by JustCo.

Verizon’s new space is an initiative by Just Co, a Singapore based management firm. The new initiative is a part of the upcoming “Powered by Verizon Platform”. Therefore, on this new initiative, Verizon and PLASTARC will be joining hands with each other. PLASTARC is a New York based workplace strategy consulting firm.

Amongst all the real estate holders in the world, Verizon is the biggest, with more than 100 million square feet of space. Since there have been major advancement in technology over the years, Verizon no longer needs the space that it previously needed due to less office equipment and more. Verizon partnered with coworking operators based in the US in 2015 as well in order to change the underutilized spaces into new innovative spaces for different Verizon groups and start ups.

Verizon may have a lot to gain from the flexible spaces and such workplace practices as compared to start-ups. When large companies are able to pool their resources and share conference rooms, presentation space and other amenities, they are able to create new opportunities to ensure free flow of information and other ideas that can help in growth. Verizon will be sharing the new space with different technology partners and will collaborate with them to deliver the right services and products together. Currently, Verizon is sharing their current space with many technology partners, making sure that they foster close collaboration on many different services and products that they offer.

Manager of Workplace Transformation, who is leading the initiative for the company, Nick LiVigne, thinks that the new innovation spaces will be good for the company’s core business. While commenting on it, he said, “It is a way to extend boundaries of our business and a way of expanding our client base as well. Flexible spaces are known to have a well equipped mixture of different resources for innovation and this initiative will allow us to place our businesses within different innovation networks”.

It is a win-win situation for Verizon in any case because big companies like Verizon can benefit greatly from the fact that they no longer have to pay extra for office spaces as they can collaborate and work on shared office spaces. Lower cost and lower capital as well as lower office equipment for the company. On the other hand, when Verizon would work with flexible office spaces, it would get to have some new talent and benefit from people of different origins that can benefit the company on the whole as well.

Verizon innovation spaces are currently available in Washington D.C., Boston, London and New York and now, Singapore is the latest country to have a brand new Verizon space.

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