Digital product agency O3 World announced that it is launching a new product development and venture division for emerging companies and individuals, called Ozone Ventures.
The division is a “strategic partnership initiative that lets the O3 World invest time, resources and capital into people, products and services,” the Fishtown-based company said in a statement. O3 World specializes in digital consulting and custom design using technologies such as AI, voice, IoT and conversational design.
There’s a potential for capital investment, the release said, but Ozone Ventures will primarily help its partners innovate on a new product or service by supporting early development and design support.
Ozone Ventures named software company Urvin and creative coworking company REC Philly as its first two partners.
“Ozone Ventures is the next logical step as a company to expand our work and create mutually beneficial relationships with people and companies with whom we share the same values,” O3 World CEO and cofounder Keith Scandone said.
No financial details of the program, nor details of O3 World’s time or personnel commitment to each company, were disclosed.
— Dave Silver (@DaveSilver__) October 1, 2019