The team, which will be led by Vincent Lebunetel, vice president, Corporate Innovation, will have a dedicated innovation fund that will be used to steer future partnerships, projects and ideas in three core areas.
The areas include: Engaging with stakeholders, internal and external entrepreneurs and industry institutions; developing protoypes, processes and new applications; and exploring and testing new concepts.
David Moran, executive vice president, Global Marketing & Enterprise Strategy, said: "To ensure we maintain our position as an industry leader, we believe it is important to take ownership and have a dedicated team purely focused on potential opportunities and developments.
"There is substantial, untapped potential for new technologies, services and projects out there, and this team will find, test and trial them, continuing to bring the very best offers to our clients."
Last month (28 October), CWT Meetings & Events revealed that it has seen a 37% increase in venue find requests for September 2014, compared to September 2013, with the bulk of enquiries for domestic events.