And what about the subscription economy itself – whats in that? According to a 2014 report by The Economist Intelligence Unit, 80 percent of customers are demanding new consumption models including subscribing, sharing, and leasing — anything except actually buying a product outright.
Experience has been an Economy too at least since 1999, when the seminal book from Joseph Pine and James Gilmore was published: The Experience Economy.
I’ll leave it up to you to decide. In the meantime, I put this slide deck together for some of the Microsoft Ventures B2B startups I mentor based on my experience over the years. It’s my take (including much from others) on what it is and what makes a good program.
I gave this (i.e. the Fintech scene) special coverage in a separate section of my trend report.
Banks around the world are realising that in the rapidly developing world of smartphones and apps they are at risk of falling behind in the innovation race. Fresh-faced financial technology start-ups (fintechs) are coming up with new mobile-first services – payments, loans, money transfers, digital currencies – and threatening to steal customers, particularly younger ones.
This is why many old banks have been flirting with younger models in an effort to stay hip. But are such apparently mismatched relationships doomed to failure?
In this post I’m changing the format slightly by tagging the title with a different hashtag (which was partly for Twitter but had other purposes too). Instead of intrapreneurtrends that I used before, its now the new name of this site, its URL, the new hashtag I’m tracking on Twitter (see sidebar) and my new book/trend report which I’m about to publish – more on that soon. This is also the last of the research tags I’ll be using on this site that tagged all the new articles and reports I found to include in the book and started with this post.
Here are the more prominent, recent articles below – these and others have all been included in the trend report. Once the trend report is published I’ll keep tracking new articles and the like differently. For anyone interested, I curate content first on Flipboard in the INNERVENTURES magazine there which has a slightly broader set of articles – you can subscribe to the magazine if interested.
SEOUL (By Se Young Lee, Reuters) — Samsung Electronics Co Ltd, the world’s biggest maker of smartphones and memory chips, announced on Thursday that it plans to adopt a corporate culture akin to a startup, seeking to become more nimble as growth slows. More here.
They call this unique approach adopted by unicorns lightning innovation. How can companies achieve the same success:
To realize this potential, established companies will need to fundamentally revisit their business models and cultures. Some of the big players do seem to recognize this — it may be one of Google’s motivations for creating its Alphabet structure, in 2015, splitting itself into smaller and more agile units. In a digital world, learning to fail fast is the key to getting big fast, and we can expect the big, structured companies of today to take a leaf from Google’s book and start to turn themselves into portfolios of unicorns.
The life of an S&P 500 company is rapidly declining and increasingly, the risks to these companies comes from an armada of startups and not a giant incumbent competitor. We dig into how corporations can use startups to innovate faster and how to make the important build, buy or partner decision.
The chief executive of Europe’s second-biggest insurer by market capitalisation says that the industry is dealing with technological change unevenly. “That is great news,” he adds, explaining that it allows more nimble operators to win business from those slower to embrace change. “Everyone is threatened . . . and it creates more fluidity in market shares.”
He wants to put Axa at the forefront of the change. A bewildering array of initiatives is already under way — research labs in Silicon Valley and Shanghai, a €200m venture capital fund to invest in external start-ups, a new internal incubator fund called Kamet with €100m to invest, partnerships with LinkedIn and internal data analysis competitions to name just a few.
Some very interesting articles over the last few weeks – here they are:
MasterCard Announces Start Path Global Program – an accelerator to support Fintech startups. Like this statement on their site – very intrapreneurial: “Like a startup, we are always looking for ways to evolve. That’s why we have created a new partnership model for startups – Start Path Global.”
Woah, just came across this site today with probably the most comprehensive and impressive Intrapreneurship program I’ve seen so far – definitely one for the #research files. Here it is: http://www.afce.co/
After an awesome discussion with some friends on chapter 2 of the trend report which is intended to do a slightly deeper dive into intrapreneurial activity than the intro, we agreed it would be useful to break down activities a little to provide greater meaning and context we could come back to in later chapters. So we came up with this matrix:
I broke down the four sections into detail. This is still very much a work in progress and needs to be finalised. Doing it out loud so anyone can see/participate. The fourth quadrant comes from work Steve Blank has been doing on Corporate Innovation Outposts.
Today, large companies are creating innovation outposts in innovation clusters like Silicon Valley in order to tap into the clusters’ innovation ecosystems.
These corporate innovation outposts monitor Silicon Valley for new innovative technologies and/or companies (as emerging threats or potential tools for disruption) and then take advantage of these innovations by creating new products or investing in startups.