Business Innovation Hub
The Business Innovation Hub (BIH) helps companies implement innovation-based projects. Teams of 4-6 co-op students spend a semester working alongside 4-6 company employees on a designated innovation project supported by TMU entrepreneurship and innovation management consultants. Normally, companies simply hire and manage the co-op students they would like. In the case of BIH, the 8-10 employees & students work together on a single important innovation-based project and receive significant coaching and innovation education from TMU.
During the global pandemic, the BIH model was changed with the purpose of making a difference for Small and Medium Enterprises that were impacted by the COVID-19 Pandemic. BIH’s goal is to help these businesses by implementing risk-free innovative solutions and finding new sources of revenue to make up for lost business. We identify business needs and create a proposal recommending creative solutions. We don’t charge for these services: all we ask is for a donation to TMU to keep this initiative sustainable (you receive a tax receipt for your donation). Every $1 donated allows TMUEI to pay $3-4 to hire TMU’s top business students in the Co-op Program to work in BIH, and help alleviate historically high student unemployment.
Examples of BIH’s Innovative Services:
- Create social media content marketed towards youth audiences
- Design websites that will drive user engagement and increase revenues
- Build an e-Commerce store
- Find new sources of revenue to make up for lost business
- Video production and editing
- Implement an efficient curb-side pick up process
- Help apply for government grants
Visit the BIH Facebook page (external link) for more information.