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Follow on Google News | OneTraction Accelerator Launches New Open Innovation Lab to help Startups Build their ProductsBy: OneTraction San Francisco, CA – OneTraction, a Silicon Valley-based Open Innovation Accelerator, announced the launch of their Open Innovation Labs, which comprises of over 1000 engineers working both locally in Silicon Valley and remotely across the United States, Europe, and Asia. One of the biggest challenge of early stage startup besides funding is finding the development resources to actually build their idea into a product. While this approach has already proved successful by large Fortune 500 companies and late-stage startups, this is the first initiative in Silicon Valley by an accelerator to attempt to solve this challenge. Among the biggest players currently is PivotalLabs which is also based in San Francisco and backed by top Fortune 500 investors such as EMC and General Electric. The primary benefits of Open Innovation Lab, according to OneTraction CTO Henri Swan who engineered this innovative approach, are to reduce time-to-market, development costs, and investment risks while increasing the viability of startups launched by non-technical co-founders. The relationships that OneTraction has developed to drive open innovation for its portfolio startups include tier one technology providers like Amazon, Google, Microsoft, Intel, Apple, HP, SAP, and IBM. In its previous projects, the Open Innovation Lab engineers has already helped drive product development for two portfolio startups which were later acquired by Google and Dropbox. According to OneTraction CEO, Andrew Preston, OneTraction’ In addition, according to Preston, the OneTraction Fall Batch is now accepting applications until September 30, 2015. Interested parties can apply by visiting http://www.onetraction.com/ About OneTraction OneTraction is the first open innovation accelerator in Silicon Valley that partners with their founders to build, launch and fund viable startups. We are a Silicon Valley-based team of entrepreneurs and innovators with deep knowledge and expertise. Founded by Harvard, Stanford and MIT alumni, our network includes top schools, investors, and Fortune 500 corporate partners. This accelerator goes beyond a curriculum-based education and helps founders launch disruptive, sustainable, and fundable businesses with its unique 360-degree innovative approach. Current active startups in the portfolio are located across the United States, Canada, France, United Kingdom, Germany, and Italy with our new batch including locations Europe, Latin America, Africa, Asia, Israel, and the United Arab Emirates. End
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