Investa Innovation Institute
Building a commercial real estate innovation institute.
Problem
Problem
Problem
The Australian commercial real estate market is highly competitive, with low interest rates and favourable conditions attracting global institutional investors and developers of various scales. Traditionally slow-moving, it's now evolving due to changes in working practices, with agile and activity-based working gaining popularity. A new generation of entrepreneurial tenants seeks flexibility and nimble partners, demanding more innovation in the sector to sustain growth.
The Australian commercial real estate market is highly competitive, with low interest rates and favourable conditions attracting global institutional investors and developers of various scales. Traditionally slow-moving, it's now evolving due to changes in working practices, with agile and activity-based working gaining popularity. A new generation of entrepreneurial tenants seeks flexibility and nimble partners, demanding more innovation in the sector to sustain growth.
The Australian commercial real estate market is highly competitive, with low interest rates and favourable conditions attracting global institutional investors and developers of various scales. Traditionally slow-moving, it's now evolving due to changes in working practices, with agile and activity-based working gaining popularity. A new generation of entrepreneurial tenants seeks flexibility and nimble partners, demanding more innovation in the sector to sustain growth.
[Inlayed] A Miro Board extract of the timeline of the project, including key milestones.
Bringing technology and humans together for agile property innovation.
Reframe
Reframe
The commercial property industry is used to working to long timelines: major building projects and long-term tenancies. Pre-COVID, the commercial rental market enjoyed occupancy rates just under 100%, so long timelines were fine. Post-COVID, the industry realised that change was happening much quicker than before.
Investa needed to understand how both agile design thinking practices and an escape from legacy tech systems could accelerate learning and bring about a spirit of experimentation.
The commercial property industry is used to working to long timelines: major building projects and long-term tenancies. Pre-COVID, the commercial rental market enjoyed occupancy rates just under 100%, so long timelines were fine. Post-COVID, the industry realised that change was happening much quicker than before.
Investa needed to understand how both agile design thinking practices and an escape from legacy tech systems could accelerate learning and bring about a spirit of experimentation.
The commercial property industry is used to working to long timelines: major building projects and long-term tenancies. Pre-COVID, the commercial rental market enjoyed occupancy rates just under 100%, so long timelines were fine. Post-COVID, the industry realised that change was happening much quicker than before.
Investa needed to understand how both agile design thinking practices and an escape from legacy tech systems could accelerate learning and bring about a spirit of experimentation.
[Top] An outdoor workshop with Investa staff. [Bottom Left] An image of one of the artefacts: Innopoly, representing Investa's new internal accelerator. [Bottom Center] An indoor workshop featuring Investa staff. [Bottom Right] A team preparing for a pitch within the accelerator program.
Solution
Solution
Investa's Innovation Institute, with its unique 6-stage leadership evolution program, has transformed its approach, providing employees unmatched skills in innovative problem-solving within the real estate sector.
The program's achievements include launching the Fast-Start Fit-out service to streamline office tenant fit-outs, initiating Innopoly: Investa's internal accelerator that resulted in 35 MVPs and 42 experiments, and introducing a comprehensive data dashboard that integrates live data from 12 properties across more than 30 systems.
Investa's Innovation Institute, with its unique 6-stage leadership evolution program, has transformed its approach, providing employees unmatched skills in innovative problem-solving within the real estate sector.
The program's achievements include launching the Fast-Start Fit-out service to streamline office tenant fit-outs, initiating Innopoly: Investa's internal accelerator that resulted in 35 MVPs and 42 experiments, and introducing a comprehensive data dashboard that integrates live data from 12 properties across more than 30 systems.
Investa's Innovation Institute, with its unique 6-stage leadership evolution program, has transformed its approach, providing employees unmatched skills in innovative problem-solving within the real estate sector.
The program's achievements include launching the Fast-Start Fit-out service to streamline office tenant fit-outs, initiating Innopoly: Investa's internal accelerator that resulted in 35 MVPs and 42 experiments, and introducing a comprehensive data dashboard that integrates live data from 12 properties across more than 30 systems.
32+
MVPs developed
in just 1 year.
32+
MVPs developed
in just 1 year.
32+
key strategic intiatives
delivered over a 3-year period.
42+
experiments
over the course of an accelerator cycle.
42+
experiments
over the course of an accelerator cycle.
32+
MVPs developed
in just 1 year.
6
key strategic intiatives
delivered over a 3-year period.
6
key strategic intiatives
delivered over a 3-year period.
42+
experiments
over the course of an accelerator cycle.
Impact
Impact
Investa had an innovation structure that unlocked six strategic initiatives over three years, involving tenant discovery, data projects, and an internal innovation program. This effort led to a robust Innovation Vision, now central to their business.
Key initiatives include an Innovation Leadership Committee, company-wide innovation KPIs, an internal accelerator for new ideas, and a team of trained innovation champions to propel these advancements.
Investa had an innovation structure that unlocked six strategic initiatives over three years, involving tenant discovery, data projects, and an internal innovation program. This effort led to a robust Innovation Vision, now central to their business.
Key initiatives include an Innovation Leadership Committee, company-wide innovation KPIs, an internal accelerator for new ideas, and a team of trained innovation champions to propel these advancements.
Investa had an innovation structure that unlocked six strategic initiatives over three years, involving tenant discovery, data projects, and an internal innovation program. This effort led to a robust Innovation Vision, now central to their business.
Key initiatives include an Innovation Leadership Committee, company-wide innovation KPIs, an internal accelerator for new ideas, and a team of trained innovation champions to propel these advancements.
More Projects
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