FREE and Innovation
FREE AG develops smart products for scaleable markets.
We are convinced that the worst mistake of the ”new economy“ was the naive faith in the wrong idea that all the rules of the ”old economy“ no longer applied.
This bad idea sacrificed basic economical principles such as maximization of profits, optimization of costs and frugality, on the altars of free markets and availability of stock capital at will.
Proponents of this faith frowned upon the subjects of the ”old economy: Oil, steel, machinery, buildings and airplanes.
”Heavy Assets“ were definitely out.
ENRON for example used to be a highly profitable company of the ”old economy“ and owned some 10.000 miles of gas-pipelines. In an effort to make ENRON a ”new economy“ business, those heavy assets were sold.
Instead ENRON began to show billions in future income on its balance-sheet, based on projected income in future trade of DSL-bandwith and based on a field-study in the mid-west with twenty households.
Well, the billions never showed up. The end of ENRON is history.
FREE AG however sees the emerging future in the intelligent combination of heavy or old assets with new technology and intelligent systems. Companies which have adhered to this principle have expanded on an impressive scale throughout the millennium-boom and had no trouble to continue their expansion even after the complete breakdown of the new economy.
This vision is our goal and principle.
To reach this goal, FREE AG has close links to the old economy and by the same token supports technologies in early stages and people with visions and ideas. In this area FREE AG gains a decisive strategic advantage especially through close collaboration with leading international patent firms.
Also, FREE AG is an expert in marketing. Additionally our management, the chairman of our board, Prof. Dr. Dr. Ekkbert Hering is the personification of this expertise.
In terms of economic theory FREE AG creates value by its unique ability to recognize future key technologies early and the ability to combine them with known products to something smart – something, that not necessarily has to be new, but ultimately makes something old better and fit for the future.
And then, in the end, all will benefit.