Market Dojo, a start up specialising in e- procurement Software – as – a – Service (SaaS), is constantly looking to expand its sphere of influence through short, medium and long term relationships. A viable business needs to be based on all three to have a long term future. Working closely with academic institutions is an ideal vehicle for satisfying all three conditions.
Market Dojo, who work in the eProcurement space have forged a close relationship with the University of Greenwich in their International Procurement and Purchasing course led by Dr Li Zhou. For four years, two of the co-founders of Market Dojo, Alun Rafique and Nick Drewe, have presented and currently help with a key lecture in the MA of Logistics and Supply Chain Management.
The lecture is based on Market Dojo’s initial proposition on which the company was founded four years ago. This focuses on an innovative technology for negotiation called the reverse auction, which Market Dojo have made more accessible through an easy to use, on demand solution that lets procurement professionals more readily negotiate their goods and services.
Embedded in the lecture is a game that Market Dojo has developed which combines the elements of using Software-as-a-Service, negotiation and game theory.
Alun Rafique reveals “This game gives the students a background into a key element of an emerging technology which is at the heart of their course. On top of this it shows how Market Dojo developed its original strategy and shows the benefits and challenges that companies face when adopting new technology.”
Dr. Li Zhou, who is a Reader in Operations Management at the department of Systems Management and Strategy, readily saw the advantages in working with a real life start-up based in the procurement space. She says “Market Dojo has given my students an insider view to how a start-up in this area can create value for businesses whilst also showing them how a small company can grow and challenge much larger competition through innovative on-demand technology”
Market Dojo often works with academics to help provide real life examples to students and there are many reciprocal benefits. The feedback from the students is very insightful and can help shape Market Dojo’s product and even provide answers to their own challenges. Further to this it helps spread awareness and can help with recruitment.
Nick Drewe mentions “It is key for small businesses as well as large multinationals to work with academic institutions to give students a holistic view of all elements of the modern company. We find that students are especially interested in our entrepreneurial view as many want to start a business themselves.”
Market Dojo hopes to expand their relationship with the University of Greenwich and is looking at other research opportunities there. They are also working with more diverse training providers by offering their software to help with general training in the field of eSourcing. It is by working with this area of education where there are obvious benefits for both parties that help Market Dojo forge strong relationships and a real long term strategy.
Market Dojo offers easy to use, professional e-sourcing software as a service. Founded in 2010 and based in Bristol their aim is to provide accessible solutions to procurement professionals enabling them to save time and money on their purchasing activities.
The University of Greenwich is one of London’s largest universities and celebrated its 125th anniversary in 2014. The university has three iconic campuses in London and Kent, and a heritage of education, discovery and technological innovation. An ambitious institution, it takes an innovative and modern approach to teaching, research and enterprise, and is thoroughly committed to making sure that students achieve their potential.