Working collaboratively often delivers better results for everyone – more innovative ideas, higher engagement, and better overall outcomes. In fact, a Stanford study found that participants who collaborated with others worked on their task 64% longer than those who worked alone, reported lower levels of fatigue, and had a higher success rate. Another study found that workplace collaboration can increase innovation by 15% and boost time to market by 20%.
The potential for collaboration and innovation is one of the many reasons PVM has an office in the St. Petersburg Maritime and Defense Technology Hub. Our presence in this space helps drive innovation, connects us to partners, and overall makes us a more well-rounded company. Below, we’ve outlined a few of the top reasons companies that work in a technology hub can deliver even more value to their customers.
What is a Technology Hub?
A technology hub is a location that brings tech-focused companies together — whether that space is an entire city like Silicon Valley or a single building like the St. Pete hub. These types of communities typically facilitate collaboration and partnership across member companies and focus on driving innovation. Companies that work within the space also often share resources that they may not have access to otherwise.
4 Reasons to Partner with a Tech Hub-Based Company
Companies that are based in a technology hub can deliver more value to their customers in four main areas: innovation, partnership, resources and giving back.
1. A Focus on Innovation
One of the main benefits of working in a tech hub is the community this type of space provides to collaborate and share ideas with others who are working on similar problems. For example, the St. Pete hub brings together more than 15 different companies that work in the maritime and defense space. With so many minds in the same location, collaboration takes place all the time – whether that’s through formal meetings in an office down the hallway or informal gatherings like lunch in the breakroom. The hub itself also provides formal structure for idea sharing at events like Tech Tuesday and tenant happy hours.
As the studies listed above show, collaboration can facilitate a higher level of innovation. Partnering with a company that is constantly innovating means more access to the latest and greatest ideas, technologies, and solutions to help you grow and solve your problems more efficiently and effectively.
2. Potential for Unique Partnerships
Technology hubs also help take collaboration one step further into formal partnerships. These types of spaces can connect different types of businesses who may not usually think to work together. These partnerships can be incredibly valuable to clients of hub tenants, since for them, it means access to more technologies, ideas, and people to help solve even their most complex challenges. At PVM, we have seen this benefit firsthand. Though the St. Pete hub has only been open for less than a year, PVM has already been able to partner with many of its neighbors in the hub.
3. Access to Resources
As members of a technology hub, businesses have access to many resources they may not have otherwise. Tech hubs can, of course, provide some more obvious shared facilities like front desk services, security, and lunchrooms that allow small businesses to focus on providing value to their clients and reduce administrative burden, but tech hubs can also provide other resources that are of enormous benefit to certain industries, like secured spaces or laboratories.
4. Giving Back
Innovation hubs foster local economies and provide opportunities for their surrounding communities by creating employment opportunities. They also often require their member companies to interact with their areas through internships, mentoring and other engagements. When companies partner with technology hub members, they play a vital role in helping to support these local communities.
The St. Petersburg Maritime and Defense Technology Hub
In addition to the benefits listed above, the St. Pete hub, as a part of the St. Petersburg Innovation District, specifically provides PVM with some unique benefits, including:
- Secure communication rooms, including previously certified sensitive compartmented information facilities (SCIFs).
- Access to collaborate with many types of organizations, bringing together industry, government, and academic partners.
- Incentives to engage in the local St. Petersburg community and give back through internships, mentorships, and community events.
- Partnership with the broader St. Petersburg Innovation district for even more possibility of collaboration and opportunities to give back to the local community.
Click here to learn more about PVM’s relationship with the St. Petersburg tech hub or contact us for more information.