By ET Bureau - April 27, 2020 2 Mins Read
Rainmaking, a corporate innovation and venture development firm, launches Compass, a new approach designed to provide corporates with insight and actions they need to take to future-proof their business. Compass has already resulted in sixteen strategy projects, delivering an expected £3.7bn in additional client revenue and £50m in client savings by 2023.
Compass gives corporates a unique view of their market, using real-time data on where hotspots of startups are emerging across their value chain and where venture capital is being invested in the most disruptive innovations. With this information, corporates are able to see the speed of disruption happening across their sector and can make meaningful decisions on where and how to focus their innovation activity. The outcome of Compass is a well-defined roadmap and investment case for where corporates should be building capability to deliver measurable commercial impact and evolve their business model to remain a major player in their sector.
Chris Locke, CEO, Corporate Innovation, Rainmaking: “We developed Compass based upon our decade of experience building disruptive ventures and working with over 850 startups, to enable corporates to make effective bets to test where the future value lies. Accelerating rates of disruption and adoption, across industries, are shattering the traditional business models, corporates have become so heavily reliant on. Corporates will not solve these challenges by looking backward or reacting to disruption only when it happens, they need to be proactively looking at the future and thinking about how they can maintain and grow their value in a rapidly changing environment.”
Market disruption has driven many famous brands out of business, whilst reducing the average tenure of large corporates. To counter this, corporates are investing billions into their innovation programs. However, according to research conducted by Harvard Business Review, only a quarter of corporate innovation programs have delivered the desired results.
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