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Fresco Capital - Open Innovation Uncovered

Why is Open Innovation important? What lessons can we learn from case studies? How should companies, both startups and large corporates, actually implement Open Innovation?

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Fresco Capital - Open Innovation Uncovered

  1. 1. OPEN INNOVATION UNCOVERED
  2. 2. Early stage global venture capital 3 Managing Partners, 8 Team Members 46 portfolio companies, 23 Impact Partners, 500+ co-investors FRESCO TEAM FRESCO IMPACT PARTNER FRESCO PORTFOLIO
  3. 3. 3 Key Trends Shaping the Future
  4. 4. 1. Software is Eating the World Image credit: Wikimedia
  5. 5. 1. Software is Eating the World Software still hungry Hardware renaissance Wetware wildcard Technology
  6. 6. 1. Software is Eating the World Technology Universe Image credit: SpaceX
  7. 7. Image credit: The Oxford Group 2. Millennial Wave
  8. 8. 2. Millennial Wave Age 0 – 18 1.8 Billion Age 18 – 34 2.3 Billion Millennial Wave 4.1 Billion Data sources: BCG, EIU
  9. 9. 2. Millennial Wave Technology “just works” Social and vocal Diverse
  10. 10. 3. Economics of Excess Image credit: Getty “There are two kinds of companies – those that work to raise prices and those that work to lower them.” - Jeff Bezos
  11. 11. 3. Economics of Excess Exponential network effects Extreme cost reductions Economic consumer surplus
  12. 12. 3. Economics of Excess Data source: WhatsApp 42 billion messages sent per day
  13. 13. Reality Today Technology Eating the Universe + Millennial Wave + Economics of Excess = What’s Your Strategy?
  14. 14. Case Studies: Don’t Do This
  15. 15. Theranos: Secrets Lead to ??? Image credit: Fortune 10 years stealth No peer review Core tech?
  16. 16. The Bank: True Anonymous Story Launch an accelerator Dysfunctional Internet banking No digital data, yes paper mail
  17. 17. Case Studies: This Works Better
  18. 18. Tesla: Ride the Cost Curve Image credit: Tesla Software + hardware Battery cost curve Open source
  19. 19. Change the culture Adapt to reality Networks Microsoft: Reinvention Image credits: Microsoft
  20. 20. Case Studies: What We Do
  21. 21. Global venture capital Diverse network People first
  22. 22. Lesson 1
  23. 23. Forget stealth secrets. Do this instead: Ride the trends.
  24. 24. Lesson 2
  25. 25. Ignore the hype. Do this instead: Change your core.
  26. 26. Lesson 3
  27. 27. Stop local maximization. Do this instead: Find global winners.
  28. 28. “Being ignorant is not so much a shame, as being unwilling to learn.” - Benjamin Franklin
  29. 29. fresco.vc @tytusm

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