Most companies, big and small, acknowledge the urgent need to embrace digital transformation, as it will have a huge impact on their business in a not so distant future. They also acknowledge the lack of knowledge and resources within the organisation further challenged by the outside speed of change forced by digitization – typically at speeds way faster than companies can change their mind-set, culture and processes. Nevertheless, this is exactly what is required!
We are here to help the transformation happen - not only on a strategic level, but all the way down to the actual development of business critical solutions designed on the right mix of market insights, observations of user behaviour and technological trends.
We do this by helping our clients scout for venture opportunities, setting up project-x’s and garages, often with the purpose of designing and developing Minimum Viable Products (MVP) that can be taken into their market. In other words, we create actual solutions and at the same time build up experience with methods and technology needed in digital transformation within the company and organisation.
Innovation is on everyone's agenda but getting an overview of the innovation taking place in ones own vertical can be resource demanding ... and getting an overview in other verticals that can be used as inspiration is even more difficult. Therefore, we have developed an offering within innovation scouting, where we scout and presents start-ups that can add value to our clients’ offerings. We also arrange demo days where selected start-ups can present their offerings.
After that the next steps can be decided - either by buying or partnering with the start-up or by building similar solutions.
Often it can be beneficial for a client to work with digital transformation on the side of the organisation in labs, garages, project-x’s. Success has many fathers. This allows the company to work in an environment where the organisation’s immune system is not killing the innovation. New and radical change can therefore take place and get adopted back in the organisation when mature enough ... or spun out as a completely new business area. We have helped several clients set up such an initiative by advising on organisation, competencies, facilities and methodology.
When working on the side of an organisation we become an integrated part of the client’s team. Because we work as one team, we have been able to start using methods like Google Design Sprint that speeds up the time from ideation to user validated prototypes. This way we can validate ideas extremely quickly and reject ideas that are not viable without spending valuable resources implementing them. We can both participate as team members with the needed competencies and in a facilitating role.
Below you can see some examples of our work with different clients.
In DSB Digital Lab we practise corporate innovation on the edge of the organisation. Through specific projects our team is working closely together with a dedicated innovation team from DSB, attacking DSB challenges in new ways. By adapting new methods and a changed mindset DSB’s employees will be able to head back to the organsation with not only brand new products or services but also with ways of working and thereby closing the gap between ideas and execution even faster.
In 2014 we helped Falck develop their digital strategy. One of the identified digital strategic focus areas was to improve Falcks Innovation capabilities. Falck had been looking for new strategic possibilities in potential or existing markets. Through our facilitation Falck realised that the start-up community could be a go-to source for innovation in their different fields of work and a potential Falck-X setup was being implemented. In parallel with this, a Venture Partnership Management process has been initiated, and we are systematically scouting the market for potential candidates for partnerships or M&A within the start-up environment.
The financial sector finds itself in the middle of a rapid transformation driven by digitisation and adaption of new technologies. Some of the most important strategic decisions in a situation like this is to strenghten the company's ability to spot where change and disruption could come from, to create a fora where relevant discussions can be taken and to improve the company ́s ability to react by either building new products and services faster, by partnering with startups or by investing in new businesses.
Since 2015 we have been advising Jyske Bank on their strategic direction towards digital innovation. As a part of our Venture Partership Management offering, our innovation team is screening the market for potentiel threats, opportunities and potential startup partnerships globally. These are presented through the establishment of an Innovation Board.
In 2013 Danske Spil found themselves surrounded by a lot of interesting innovation taking place outside Danske Spil's core business - in areas like casual gaming, e-sports, social betting and mobile gaming apps. After having helped Danske Spil with the development of their digital strategy we were asked to help implement a systematic scouting setup to make sure that Danske Spil became aware of what was going on around them, so they became able to have the relevant internal discussions about what to do. We call this offering for Venture Partnership Management and over the next two years more than 40 reports where created and presented to the top management team at Danske Spil.