At idealabs we believe that there's a new innovation era coming, where big corporations and startups blend. We dive into the corporate innovation boom, showing you some examples of big corporations working together with startups.
Transcript of "Should corporates have a startup garage?"
Hi we are idealabs!We are an entrepreneurialHUB located in the center ofAntwerp. We promoteentrepreneurship by insipiring,educating and engaging. Weaccelerate startups and helpthem grow. Creatingentrepreneurs!
All sorts ofEntrepreneursStartup FoundersInterpreneursIntrapreneursThoseintrapreneursseem to be hot!
Contents of this presentationIs there a corporate innovation boom?We believe that there’s a new innovationera coming for big companies, with a newset of rulesExample of a intrapreneurialbootcamp within a big corporationExamples of new innovation efforts ofcorporates
“The popular perception is thatmost corporations are just toobig and deliberate to producegame-changing inventions”
‣ The focus of an establishedfirm is to execute an existingbusiness model.‣ Discovering a new businessmodel is inherently risky.‣ People who are best suited tosearch for new businessmodels usually are not thesame managers who succeedat running existing businessunitsBig Companies can’tinnovateNew innovation Era?
Positive Trends for BigCorporations‣ Increasing ease anddecreasing cost of innovation‣ Companies are embracingopen innovation‣ Companies are integratingentrepreneurial behaviors‣ Creating business modelsthat tap big companiesunique strengthsNew innovation Era!
Why is there a Corporateinnovation boom?‣ Bolstering innovation‣ Acquiring new customers‣ Making their industry bigger‣ Encouraging PlatformDevelopment‣ Diversifying Procurement‣ Building a PhilanthropicBrandNew innovation Era!
Benefits for the StartupCulture‣ Credibility: If a establishedcorp jumps aboard, it canhelp customers and partnerstake startups seriously‣ Distribution: By using corpdistribution channels,startups can increase theirreach and get to marketfaster‣ PR and Branding: increasebrand recognitionNew innovation Era!
There is definitely aAn era that’s positive forCorporatesand StartupsNew innovation Era!(old,bureaucratic, and risk averse)(disruptive, irrisponsible, andinexeperienced)
“Today, companies are startingnew entrepreneurship initiativesbecause they need fuel forinnovation, desire top talent andneed to sustain a competitiveadvantage. Smart companiesare catering to entrepreneurs,allowing workers to pitch theirideas, and even funding them”
“Managers, like entrepreneurs,are taking risks on new ideas,and when they create a newdivision, they are essentiallyinvesting the companys timeand money as a VC would investfunds in a startup”
Are all Big CompaniesCreating Startups WithinLarge Organizations?Let’s take a look at the firstcorporate innovation programorganised by Steve Blank atQualcomm
Background on theQualcomm program‣ Qualcomm’s visionary CEO, wanted to useinternal Qualcomm ideas to findbreakthrough innovation that could beturned into products (not a suggestion box)‣ The challenge:‣ Teach participants on how to turn theirideas into fundable experiments‣ Educate employees onentrepreneurship. They themselves hadto take ownership and fight for theirideas‣ All while keeping mind that employeeshave day jobs!Structure of Program ->cfr: Steve Blank
Ok, so corporates want tobehave or work like startups,even letting their employeesparticipate in a 3 monthbootcamp.If corporate innovation interestsyou, join us at idealabs for amasterclass highlighting theprinciples of Corporateinnovation with Corina Kuiper.Find out more hereRecapMore cool stuff!
Sectors:automotive,retail,consumergoods,financial,health,tech/telecom, mediaLet’s take a look at somecorporations in severalsectors how they areinnovating, and how they areapproaching startups
Corporate entrepreneurshipcontestsCompanies investing in startupsEntrepreneurs in ResidenceEntrepreneurship/intrapreneurshipprogramsFund for startupsWhat are big corporations up to?
“Big companies see theseprograms as an opportunity tofind new ideas early andperhaps partner with, invest in,or learn from todays mostinnovative entrepreneurs.”
New lab will support Ford’s vision that its future is not just aboutbuilding cars but about creating uncompromised personal mobilityexperiences for people around the worldLab will be a hub for Ford to develop a wide spectrum of partnershipswith established and startup tech firms and with universities in thearea, such as StanfordClickable Textbox!
Part urban think tank, part community center and public gatheringspace, the BMW Guggenheim Lab is a mobile laboratory traveling tocities worldwide. Led by international, interdisciplinary teams ofemerging talents in the areas of urbanism, architecture, art, design,science, technology, education, and sustainabilityClickable Textbox!
Volkswagen Group of America Electronics Research Laboratory (ERL)has teamed up with Plug and Play to accelerate and collaborate withstartups to transfer technology from many industries into theautomotive domain.In this program, companies will receive access to hundreds of investors,corporations, and mentors within the Plug and Play network, exposureat its events, regular educational seminars, and office space.
They are looking for companies, startups and innovators withdisruptive new technologies or business models within 4 strategicfocus areas:Smart MobilityIntelligent OperationsNext Generation EngineeringResponsible Castrol
The lululemon lab is a conceptual design and retail space. It is a hub forinnovation and functional fashion in Vancouver. The lab designs,produces and sells its own exclusive line of clothing.
They research, design, code, experiment. All in an effort to buildintelligent retail software that identifies opportunities for competitiveadvantage.
Through the innovative fusion of retail, social and mobile,@WalmartLabs is redefining Commerce for the largest retailerworldwide
Targets Technology Innovation Center in San Franciscos financial district willbe the retailers West Coast hub for mobile app, online search and social mediadevelopment -- pillars of the retailers e-commerce expansion. It also marksthe latest effort by a major U.S. retailer to challenge e-commerce giantAmazon and remake its image from that of an outdated brick-and-mortar storeto a tech-savvy, multichannel shopping experience.Target
The innovation lab is a lean startup operating inside of Nordstorm:Design thinking, lean startup, agile and lean thinkingThey have a Collaborative studio space
The Pepsi digital labs program, gives startups the ability to work with alarge brand to develop and test products.PepsiCo10 is a digital incubator program that selects 10 tech start-ups inentertainment, mobile, retail, and sustainability. In addition to receivingfunding, companies are matched with PepsiCo brands, such as Gatoradeor Frito-Lay, for mentoring and pilot campaigns.
The nike+ accelerator will host 10 companies for a three-month, immersive,mentor-driven startup accelerator. The focus is to allow companies toleverage the Nike + platform.
Campbell has challenged the developer community to create anapplication that helps people decide: what’s for dinner tonight?From hundreds of submitted ideas, they have chosen up to thirty Semi-Finalists and given them access to the Campbells Kitchen API for 19days to bring their ideas to life.
Their goal is to combine external innovations with their iconic brandsand market leading businesses to drive growth and create partnershipsof mutual value.Launched as a public and independent company on October 1, 2012, thenew Kraft has the spirit of a startup and the soul of a powerhouse.
MasterCard Labs will allow people to ideate, incubate and test newideas, keeping MasterCard at the forefront of advancing commerceThrough MasterCard Labs, they are building payment advancements andleveraging enhanced time-to-market capabilities to drive innovationsthrough conceptualization, proof of concept, pilot, and supportcommercialization
The FinTech Innovation Lab is an annual program run by thePartnership Fund for New York City and Accenture for early andgrowth stage companies that have developed cutting edgetechnology products targeted at financial services customers.Winners will get the chance to refine and beta test their financialtechnology products in New York City in partnership with the Labsparticipating financial firms
The mission of Capital One Labs is to re imagine the way 60+ millioncustomers interact with their money. Capital One know the mostinteresting ideas may come from outside their walls, so they areempowering their partners to create new and awesomely creativeexperiences for their customers.Capital One Labs
Healthymagination is a $6 billion strategy to revolutionize the world’shealth by improving the quality, access and affordability of care. Theywork to transform how we treat disease, empower communities to gethealthier, and build a healthcare system that helps people live betterlives.
Vodafone xone is a state-of-the-art incubation center forgroundbreaking technology solutions. They partner with startups,entrepreneurs and venture capital. They want to speed up the process ofdelivering innovative products and services to Vodafone’s operatingcompanies, partners and customers worldwide
CommNexus is a non-profit technology industry association that worksto accelerate the formation, growth, and success of the technologyindustry in the region. They deliver value to the technology industrythrough content-driven programs that provide acess to capital, talentand biz development
Once a quarter, any LinkedIn employee can come up with an idea, puttogether a team, and pitch their project to the executive staff. Ifapproved, the team gets to spend up to 3 months of dedicated timeturning their ideas into reality.
hub that connects teams, vision, and expertise with the corporate powerof Deutsche TelekomHow do they manage that?• They provide funding for your team (Financing)• They bring you together with hands-on mentors and experts(Mentoring)• They offer you a place to work (Co-Working)• They enable you to exploit corporate levers (Leveraging)
Bing Fund is looking for startups that are building online or mobileexperiences that incorporate fresh insights. Participants are notrequired to use Microsoft technology.They enroll startups into their program on an ongoing basis, investingin and working with a small number at any given time
Labs is a comprehensive six month program for emerging digitalmedia and technology companies. Labs aims to help selected startupsgain traction and scale by working closely with them with theobjective of helping them strike a commercial partnership with BBCWorldwide
timeSpace is a new initiative from The New York Times that bringsentrepreneurs to their HQ to refine and grow their businesses. Overfour months, teams will work at the NYT office, demo their productand learn alongside entrepreneurs and employees who make theirlivings in digital media, technology and journalism
The Bakery is a dedicated workspace and Accelerator Program designedto introduce great new technology from all over the world to largebrands and their advertising, creative and media agencies.The Bakery
Media Camp, a Turner/Warner Bros. initiative, is a comprehensive acceleratorprogram that educates entrepreneurs and enables them to build innovativemedia businesses. Key features of Media Camp include presentations andworkshops focused on media technology, formal mentorship from mediaindustry experts, community events and knowledge sharing, as well as directinvestments including partnerships and vendor relationships.Mediacamp
Within the RocketSpace Corporate Innovation Program, they facilitate earlyaccess to innovative products and capabilities from Silicon Valley and beyondfor their partners, by enabling efficient identification, evaluation, and integrationof emerging technologies. The program is comprised of three areas: activediscovery, developer evangelism, & corporate innovation.Rocketspace
Hi we are idealabs!Did you get inspired by this presentation?We are organising a masterclass: “The CorporateStartup Garage” on 10/06 - Order tickets hereIf you are working for a Large Corp, and believe inthis new innovation era, we’d like to invite you to ourworkshop.During this day we will dive into the new corporateinnovation boom, and introduce you to the new setof rules that can be practiced within yourcorporation. Topics range from how to organize forcontinuous growth, co creation and corporateeffectuation. You’ll learn how to redesign yourself inthe changing dynamics of your ecosystemThe afternoon will be led by Corina Kuiper (previousNew Business Development / Corporate Venturing atPhilips, currently Adjunct Professor CorporateVenturing & Innovation at Antwerp ManagementSchool and owner of the Effectual Catalyst) andNicolas Verellen/Cédric Deweeck (Idealabs)