How corporations can beat start-ups!
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INSERT IMAGE Kerry Rheinstein, Head of nVest Ventures How corporations can beat start-ups!
Transcript of How corporations can beat start-ups!
INSERT IMAGEKerry Rheinstein, Head of nVest Ventures
How corporations can beat start-ups!
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Two Questions:1. Have corporations lost
the innovation edge? 2. How are corporations
currently fairing?
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2014
18YEARS
Average lifespan of a firm on S&P
1958
61YEARS
1980
25YEARS
4 Source: Innosight
By 2027, 75% of the S&P 500 will be replaced
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OUT IN
No consumer need for physical stores or physical goods (CDs, DVDs)
Streaming, on-demand music & flexible freemium subscription options
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The new challengers to corporations?
The Unicorn Club:
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cumulatively worth $381 Billion
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Some the sameSome grow
Some changeTechnologySoftwareHardware
...and low cost of entry for innovative start-ups 7
CONSUMER NEEDS:
WHAT’S DIFFERENT?
What is the same and what is different in the innovation economy?
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Retail Finance Education Food Drink Social TV/Media Health
In the innovation economy, we still have vertical industries...
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Optimization
Great Quality
Better Experiences
New Skills
Affordability
In the innovation economy, we still have consumer needs...
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Optimization
Great Quality
Better Experiences
New Skills
Affordability
Lifestyle Algorithms
But, in the innovation economy, we have a 3rd metric created by hardware, software and technology
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What can corporations do to win the innovation war?
Step 1 – Track the innovation economy
Step 2 – Identify interesting start-ups
Step 3 – Innovate locally
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Step 1
Source: nVision Research | Base: 1000-5000 online respondents per country aged 16-64 (Indonesia & S. Africa 16-54-), 2015 February
TRACK Track the innovation economy
“A service that calculated my likely future financial situation using information about my current work performance and spending habits”
54% global
average
41%GB
average
59% of global families
64% of global
Millennials
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1. Make Accessible Low entry points for those investing at a lower price point.2. Automated, yet 'human': Use Artificial Intelligence advice systems to keep costs low yet provide a feeling of human interaction and support 3. Concierge Small elements that make users feel as if they are receiving VIP services - personalized alerts, 24/7 access and personalized advice
TRACKUse consumer data to identify emerging business opportunities & consumer trends to understand how to appeal to consumers!
Step 1
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Step 2
Identify interesting start-upsIDENTIFY
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Step 3
INNOVATE
Innovate within your company. Develop pure new innovation or partner, acquire wisely
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