Rainmaking Pioneers New Approach to De-risk Corporate Innovation
Compass provides roadmap to new markets based on startup and VC data
LONDON, April 24, 2020 /PRNewswire/ -- Rainmaking, a corporate innovation and venture development firm, today launches Compass, a new approach designed to provide corporates with insight and actions they need to take to futureproof 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 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 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 backwards 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 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 programmes. However, according to research conducted by Harvard Business Review, only a quarter of corporate innovation programmes have delivered the desired results.
Chris Locke, CEO, Corporate Innovation, Rainmaking: "To date, innovation investment has been a gamble at best. Executives want to make informed decisions and navigate uncertainty with confidence. Compass has the ability to redefine how corporates approach and action their programmes, with a data-driven approach that fuels a roadmap that ultimately offers a comprehensive and proactive plan-of-action."
About Rainmaking
Rainmaking is a business transformation and venture development firm. Headquartered in Copenhagen with nine offices around the globe, it has been building, accelerating and investing in ventures with leading corporates since 2007. Having engaged with more than 80 of the Fortune 500 corporates over the last decade, it has helped build and scale more than 850 startups through the world's largest industry focused accelerator programme, Startupbootcamp, as well as building 27 of its own startups, with nine exits to date.
Its business transformation teamwork in partnership with the world's biggest companies to maintain and grow shareholder value, with a focus on executing true business transformation that protects the business legacy whilst creating a positive environmental and societal impact.
Please see https://more.rainmaking.io/compass/ for more information.
SOURCE Rainmaking
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