This is kind of the hypotheses I’m testing with the writing of this trend report. I tried to capture in visual form the main elements of the strategy. I’ll try and incorporate this into the book in some way, shape or form…
Great article on FT.com which may be behind a paywall for you so I have copied and pasted two pertinent quotes on some really interesting initiatives/approaches the CEO is driving in his company. This is really taking intrapreneurial activity to another level…
In its home country, the group is reinventing itself again as a set of open “entrepreneurial platforms”, serving — and served by — hundreds of “microenterprises”. Not only will these micro-enterprises compete to design, build and distribute products Haier users say they want, but they will also be able to vie with one another for staff and for capital, from Haier and from outside investors. Haier is, in Prof Fischer’s words, “de-Haierising”.
The chief executive says he now devotes himself to “ensuring our organisation is open to outside resources”. Haier itself, while still providing some central services such as accounting, finance and human-resources support, will ultimately turn into a shareholder in a network of micro-enterprises, he says, owning both majority and minority stakes. In theory, it will look more like a venture-capital incubator for growing businesses than a multinational manufacturer.
Suddenly Every Company Is Becoming A Venture Capitalist. According to data provided by the National Venture Capital Association, more than 20 percent of VC dollars in the third quarter came from corporate venture capital. That accounted for over $2.3 billion in corporate venture capital investments for the period.
How 5 Big Brands Are Partnering with Startups to Innovate IBM’s 2014 Business Tech Trends study of 1,447 companies revealed that “pacesetters” – organizations that set the pace for growth and innovation – partnered more creatively with outside individuals or companies, recruiting less-traditional partners for their efforts. This presents a great opportunity for growth, development, and recognition for startups.
MasterCard Announces Start Path Global Program MasterCard announced it’s inaugural global Start Path class that includes 7 startups that were selected from nearly 200 applicants. MasterCard began their Start Path program in 2014 but wanted to stretch it farther globally.
Santander just signed a deal with a startup building the ‘Facebook of anything financial’ Meniga, an Icelandic startup that makes personal finance apps, on Tuesday announced a deal to provide its money management software to Santander’s customers around the world.
The FCA (Financial Conduct Authority) in the UK have even stepped into the breech with their Project Innovate which has the following stated intention: “Through our Innovation Hub we want new and established businesses – both regulated and non-regulated – to be able to introduce innovative financial products and services to the market”.
What intrapreneurs in established firms must do to succeed. Great article from Kellogg School of Management at Northwestern University.
… is probably a good way to gain knowledge of latest trends that I can include in the book so I’ve done just that and tweeted about it. The Startup App is what I used and is Apple’s best apps of June 2015 – really impressed. Imagine one for intrapreneurs :)
Banks again at the forefront of some good approaches opening up the innovation process to the outside – find out and get involved here
A very quick doodle with some initial thinking that I’ll try and incorporate some elements of in the book – something around key attributes of an intrapreneur. Needs more work.
Great video covering an Innotribe event session at Sibos 2015 with learnings about innovation from startups that can be applied well beyond FinTech
Here’s another company at the game: Target, in Partnership with Techstars, Is Accepting Applications for Its New Retail Startup Accelerator
The key point as follows:
“In a bid to innovate both its online and in-store experience, Target has partnered up with Techstars to create a retail-focused accelerator program.”
So Target are running the accelerator primarily to help innovate its own offering.
And here too another great article on why companies and specifically CIO’s in this case, should work with startups: Why working with startups is worth it
So when it comes to learning what it means to be agile, fast, and tolerant of risk, who better to turn to than those organisations that live by these words every waking moment: The startup community.