Bacelar’s TheCurrent Pushes Open Innovation — wwd.com

Liz Bacelar, the founder of Decoded Fashion, has a new baby called TheCurrent. The firm’s mission is to gather retail and brand leaders around the world through an open-innovation environment to help companies cut down on their research and development costs while they discuss and create cutting-edge solutions to help firms increase sales. Bacelar said the collaborative focus of an open-innovation environment is the best way economically for companies to track the trends and innovate together. She noted firms that have in-house incubator programs often don’t get too far due to its cost structure. “When you innovate internally, you can’t move as fast as you are [restrained] by the company’s limitations. An open-innovation [process] can filter all that is going on, and then you can act fast [on what’s important to you],” Bacelar said.

Read More