Innovation Lab: Value Creation Ecosystem

Last modified: November 10, 2021
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Estimated reading time: 6 min

 Background

Information technology undergoes various cycles of expansion, consolidation, and decentralization. The rapid emergence of new players, which compete against established competitors, decentralizes the market. The price drop attracts new users and creates new opportunities for mass consumption applications. Motivated by low costs and the potential upside, many entrepreneurs start formulating new types of businesses. Those who succeed at creating solutions on top of the open standard consolidate the industry by pushing their scale vertically and expanding horizontally at the expense of startups.

Alternatives

Under these episodes, a low-cost, open-source alternative to the incumbent platform emerges and gets adopted. The demand for these alternative scenarios mounts and continues to grow. The cycle of innovation in capital markets has always favored the growth of large, established companies over the emergence of new startups. As a result, the cost of innovation is becoming more expensive for startups to compete in an increasingly competitive market. Even more established companies in the developed world are feeling the pain of competing with the likes of Facebook and Instagram, which have built large user bases and can create large advertising businesses. 

Future of Work

That said, the pandemic has had a profound impact on the future of work as it wiped out over 200 million jobs globally. Its effects on the younger generation are expected to be more urgent and boost entrepreneurship exponentially. It has provided startups with an opportunity to improve their offerings in risk management and crisis response areas. That is why entrepreneurship platforms and robust incentive systems will be needed urgently to sustain life and build resilience in local communities. 

Consensus

Entrepreneurs and industry must reach a consensus on various levels of their partnership to arrive at the same objectives and goals when they start working together. Doing so can help minimize friction and boost efficiency. In times of high risk and uncertainty, a consensus-based innovation platform is needed to help stimulate recovery and build solid foundations for local startups with government support and broader stakeholder networks. 

Data

To successfully compete in the market, one must consolidate incumbents while investing in radical platforms to create a new wave of disruption. Consequently, the key to innovation comes down to one simple principle: accumulating large, valuable data sets and monetizing them through various means. This model generates crucial social issues: if the data is not open, web incumbents will prevent the public from accessing it. The data war is often overlooked in the debate around net neutrality, national security, and economic growth. However, the real battle is happening behind the scenes. Companies adjust their prices more dynamically to boost revenue and shareholders’ value with more control over customers’ internet usage. Programmatic advertising is a type of technology that uses artificial intelligence to analyze and improve the performance of advertising campaigns and is by far the most lucrative model. Following the rise of open source technology, we can see that democratizing information technology is the next step in this trajectory—a necessary step to enable innovation in a network society.

Microservices

inLab Tribes are decentralized networks that are managed through a programmable digital credit system. A consensus mechanism tailored to the needs of each project manages the system’s supply and working relationships. inLab projects are designed as a set of micro-services to reduce risk and achieve optimal results. Microservices are stackable pathways produced by independent peers and partners who collaborate to provide utility services for inLab credits. inLab’s microservice architecture is based on security, privacy, and radical anti-trust principles to support collaboration between governments, enterprises, CSOs/NGOs, and citizens. Our goal is to build a circular ecosystem capable of increasing interoperability and minimizing interdependency for regenerative and resilient systems. 

Credit System

inLab’s credit system enables members to participate in the value creation ecosystem and improve efficiency and trust in governance. Network members can set up their projects and scale the results by nourishing a diverse and connected network of initiatives. A transition experiment process on the inLab system is like a structured improvisation of network elements rather than a fixed interpretation of specific technologies. First, a central pool of credits incentivizes network development by the community (called the “pCredits”). The second is a quadrating voting and quadratic finance (QF) mechanism that leverages the community’s wisdom to assess the value of services and distribute tokens to it (called the “eCredits”). The third type of credit is designed based on specific clients’ needs and is rewarded to members providing service to third parties (called the “vCredits”). Credits can be used as vouchers to support local goods, education, entrepreneurship opportunities, and public services. Our participatory mechanisms offer data acquisition and integrated environmental, social, and governance (ESG) solutions at a marginal cost for organizations to engage stakeholders effectively and optimally.

Incentives

inLab’s architecture enables designing incentive mechanisms whereby the credits can balance the costs of public-private partnerships and finance ecopreneurship models in carbon markets. inLab’s credit system reduces technology production costs significantly by using competence pathways with the power of open collaboration. It also reduces risk and increases efficiency by constantly integrating better, faster, and more accessible alternatives in the production phase. The goal is to reduce the cost of building and to optimize sustainable innovation by replacing centralized competitions with decentralized collaborations operationalized by universal financial incentives. 

Competence Score

When combined with peer reviews, these unique properties, referred to as Proof-of-Competence, are meant to indicate and visualize the value created by members. Proof-of-Competence positions inLab as a tool for building regenerative communities, encouraging members to add value to the community through a zero-trust rewards structure. In addition to these advancements in network systems, inLab provides additional superior features to enhance the human experience on the platform, such as a business dashboard, affiliate account, escrow services, self-publishing, and reputation system. 

Infrastructure

inLab developers build and maintain the infrastructure layer that facilitates the service apps, while credit systems incentivize independent third parties to deploy pathways and optimize solutions. Our members are motivated to grow the network by promoting it, developing codes, contributing resources while leveraging network resources to launch their innovative startups. inLab members share a collective interest in the network and collaborate in a trustless environment to succeed. inLab members earn credits as they add valuable content to the network. 

ESG

Compared to other platforms, inLab stands out as the first publicly accessible research and innovation ecosystem, along with in-built participation, incentivization, and consensus mechanisms. This makes inLab a public good platform for environmental, social, and governance (ESG) applications to pull and share resources while rewarding those contributing the most valuable content. The unique properties of inLab pluralistic networks make them economically smart and socially responsible compared to others with closed circles and questionable approaches. inLab’s unique values stem from native credit features combined with stakeholder engagement and stackable competence pathways for optimal results in real-time.

Climate Action

inLab’s infrastructure provides a new mechanism for organizing climate action on a global basis using programmable financial incentives. It is an opportunity to design new networks that can achieve net-zero targets by decentralizing the infrastructure, open sourcing the data, and distributing value to local communities effectively. 

Portfolio

Our thesis is that decentralization and standardization of network capabilities can balance invention costs, break data monopolies, and reduce risks by creating a new responsible research and innovation system. inLab accomplishes this by replacing expensive, centralized, accumulative finance streams with verifiable universal financial incentives. Hence, introduce new, natively digital assets that shift value ​away from the equity in companies to competence credits in local networks. The key to our strategy is building robust working relationships with entrepreneurs by adding value to their teams and networks. In turn, these relationships help the GCRI community build, value, and optimize its collective innovation portfolio. We work with our networks and partners in the financial industry to align interests and co-create portfolio thesis to deliver sustainable results. 

Funding

We engage early in the production based on evidence (competence, credits, pathways) and build positions over time. A committed funding structure allows us to make long-term commitments proactively and evolve our thesis with the community as the opportunity emerges. We believe stewarding a competence network with conviction around our collective mission is the best way to discover opportunities and orchestrate the best of network elements. 

Demand

Overall demand for trustless and verifiable service is coming from all-time-high levels of global poverty, corruption, and distrust in institutions coupled with mounting socio-economic anxiety, driven in part by the pandemic and climate crisis. We aim at tackling these problems by decentralizing power structures and distributing value to the community democratically and optimally. Our ultimate goal is to build long-term relationships with our partners to select strategic areas and co-create environmental, social, and governance (ESG) issues. 

Approach

Our approach to innovation portfolio has enormous advantages for investors:

  1. It helps with the evolutionary investment thesis as we develop solutions through real-time inputs from real-life networks.
  2. It builds a positive reputation in the space as ESG investors, exposing them to more proprietary deal flow.
  3. It informs investors how the community members reach consensus and builds startups to engage at the right time with the right incentives, interests, and innovation strategy.

Ecosystem

To understand the value-add across the ecosystem is helpful to draw on the following analogies: 

  1. The consensus mechanism is the constitution
  2. The community is the constituency
  3. Core developers and stewards are the executives
  4.  The credit is the internal currency
  5. The investors (partners/clients) underwrite the currency

Leadership

The unique consensus and credit system offered by the inLab platform make it the ultimate on-ramp into research and innovation solutions for mainstream users. When combined with the instant processing times and fee-less transactions, inLab is positioned to become one of the leading innovation platforms to tackle complex ESG issues worldwide.

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