If you’re like us, looking at your cellphone bill each month inevitably makes you think, “surely, this could be cheaper.” Yet the incumbent mobile carriers have had a lock on the market, until recently.
Leveraging Wi-Fi technology and working with a national carrier to provide backup cellphone service, Republic Wireless has cracked the code to provide a cut-rate plan for your mobile phone. Last November, it rolled out its service with Motorola’s MotoX 4G smartphone – and sales are skyrocketing.
It’s an awesome startup story. The twist? It was incubated within Bandwidth, a 14-year-old company based in the Triangle.
Trying to avoid what Harvard Business School professor Clay Christensen famously coined the “Innovator’s Dilemma,” a growing number of companies are creating internal innovation labs to foster entrepreneurial thinking and launch new ventures.