About Corporate Innovation
Corporate innovation services can be defined as the process of enterprises implementing new innovation opportunities into existing business models.
Established companies who engage in corporate innovation typically have a dedicated team towards innovation efforts. Others might want to explore Corporate Innovation Services who are specialized in helping traditional companies adapt to today’s environment.
In the past, corporations entered the market with the product or service which was presumably unique at their time. Due to these companies being successful, they could often manage to expand their business. The R&D was solely focussed on improving the existing products which kept the company in the market.
What used to work in the past is now being outdated by a huge growth in the number of disruptive startups. Due to the size of corporations, they cannot be as flexible as startups which makes startups really effective in providing new solutions.
In this new environment, the traditional corporations must rethink and maybe even modify their business model. The idea is to bring innovation that can drag your business through the next 50 years.
Corporate Innovation Services in Malaysia
Arthur D Little
Founded in the USA, Arthur D Little is also present in Malaysia. They help their clients in the areas of Technology and Innovation management.
They offer a wide variety of services when it comes to management consultancy. Also within innovation for corporates, they have a range of services. The most general one and which relates most to the topic is ‘Innovation Strategy Development’
Arthur D Little helps corporates to:
- anticipate on technology, market and ecosystem developments and navigate the technology landscape
- Establish a dynamic innovation strategy
- Articulate a differentiating and competitive product range and a roadmap
- Leverage IP as a strategic weapon
If you want to find out more about their services, please refer to: http://www.adlittle.com.my/en/services-list/57/technology-innovation-management
Located in Thailand, Singapore and Malaysia, Tandemic helps organisations who want to build innovation capabilities internally. They design products, services and interventions that address business and social challenges in new ways.
Their aim is to work with enterprise to make innovation a part of business. They help teams discover and act on new customer insight. They support organisation with the following services:
- Workshop and coaching
- Innovation labs; Deep dives with the team to discover new insights about users and to design and prototype new products, services, or interventions.
- Innovation & Transformation; Developing an agile and customer-centric workforce by scaling innovation practices and managing performance at multiple levels in the organisation.
If you want to find out more about their services, please refer to; http://www.tandemic.com/
Rainmaking is active in four different continents including Asia and Europe. They are especially focussed on technology companies. They work with organizations and businesses of all sizes including early-stage startups and large corporates.
Rainmaking can generally provide five types of services:
- Startup Accelerator
- Corporate/Startup Pilots
- Venture Development
- Internal Innovation
- Innovation Strategy
Founded in 2006, Rainmaking has helped over 500 companies across the world with innovation strategies.
If you want to find out more about their services, please refer to; https://rainmaking.io/what-we-do
NEXEA provides corporate innovation services for multiple stages of innovation maturities to help Corporates achieve innovation goals.
NEXEA’s corporate innovation service is meant for traditional corporates who need help to innovate their business and to adapt to today’s environment in which technology plays an essential role.
When it comes to Corporate Innovation services, NEXEA helps businesses in three ways:
- Investment Startups & Placement Programs
- Send Talent/Staff to work at the Accelerator and/or Startups as an experiential learning program.
- Learn how Startups and Accelerators think about disruption and technology.
- Develop innovation capabilities in validating ideas, markets and growth.
- Develop strong internal innovation talent to drive corporate innovation initiatives.
- Corporate Startup Pilot Programs
- Define key strategies, align on key opportunities, resources available, startup criteria and outcomes.
- Reaching out to targeted groups of startups and communication of corporate goals.
- Startups interviews, ranking top partnerships and prioritising strong match & outcomes.
- Recommendations & facilitation of handpicked pilot partnerships for specific innovation outcomes.
- Managed Corporate Accelerator, Venture Building & Venture capital
- Build or Own high growth companies disrupting their respective industries.
- Acquire innovation in technologies, Business models, channels, and proven markets.
- Build a pipeline for corporate longevity or expand to high potential markets as a conglomerate.
NEXEA is providing the services for one year now and acknowledges three past projects with well-known clients in Kuala Lumpur.
If you want to find out more about their services, please refer to; https://www.nexea.co/corporate-innovation-consulting-services-malaysia/#invest-in-venture-capital
Corporate Innovation Services in Singapore
Found. is active all over Singapore. They provide services in the areas of growth strategies, investor network and business insights. So far, Found. has helped approximately 75 corporates.
Services that Found. Provides concerning innovation are:
- Corporate Access Pass; solution that allows you to provide unique flexible work arrangements to your employees so they can be more productive.
- Disruptors Panel; improve awareness of the innovation ecosystem and inspire new ideas and action with your employees.
- Innovation Studio; shape and test your innovation agenda and projects with our community and build trusted relationships with key strategic partners.
- Learn; manage the design and delivery of an innovation programme made up of a series of targeted innovation workshops, mentorship, and co-innovation services.
If you want to find out more about their services, please refer to; http://www.found.us/corporate-innovation
Based in Singapore, ICMG acts as a consultant in building businesses with the aim for innovation. Their aim lays within industries that they perceive as holding a growing importance to the future. Those include water, healthcare/ food, energy, IoT, logistics and fintech.
The service they provide regarding to corporate innovation are:
- Asia Strategic Building Program
- Innovation Strategy & Ground Design Construction Program
- Business Model Construction / Verification Program (experiments)
- Future Centre Program; supports your business by providing office spaces, local networks and office service/internships.
If you want to find out more about their services, please refer to; https://www.icmg.com.sg/en/#services
Collective Campus is active in Australia and Singapore. They focus on larger corporates and offer a variety of services including hackathon, startup matching, corporate accelerator and corporate innovation.
They provide corporates with an innovation report set up through the following stages:
- Objectives; understand the why and what.
- Environment; understand organisational structure, business model, values etc.
- Initiatives; Understand past initiatives concerning innovation and reflect on results.
- Align on external industry and internal company challenges.
- Opportunities; Define opportunities and potential approaches.
- Recommendations; Report including recommendations on next steps.
Collective Campus has been active in three different continents and has helped large players with creating innovation strategies.
If you want to find out more about their services, please refer to; https://www.collectivecampus.com.sg/innovate/innovation-capability-assessment
PlugandPlay, What is Corporate Innovation?, available at: https://www.plugandplaytechcenter.com/resources/what-corporate-innovation/
NEXEA, CORPORATE INNOVATION CONSULTING & SERVICES IN MALAYSIA, Available at; https://www.nexea.co/corporate-innovation-consulting-services-malaysia/