Open Innovation Talks (Mind The Bridge)

My job as Head of Volkswagen Group Innovation? “Organizing a central common innovation unit in a group with 10 different global brands and generating synergies. There are common tech challenges across the brands: decarbonization, software, autonomous driving, customer interface. Additionally companies need to be present in the main innovation hotspots, from Asia to Silicon Valley and Israel. We are there as a group.”
So says Nikolai Ardey, Head of Volkswagen Group Innovation, who also reveals the secret of Open Innovation. “Landing innovation with the right level of maturity”, at least if you want to minimize the “not invented here” syndrome".
Nikolai describes the different initiatives run by the group’s brands (Konnect Volkswagen Group Innovation Tel Aviv, Porsche APX Accelerator, Skoda Auto Digital Lab, Seat Start4Big) as well as provide insights about the $300M CVC fund dedicated to startups in the decarbonization space Volkswagen is about to launch. It will be an independent fund open to external LPs.

From making Enel the world leader in renewable energy to the future of energy

LG Nova is among the new kids on the busy block of Silicon Valley based corporate innovation entities. After the official launch of its first Innovation Festival, LG Nova has been extremely active looking for startup solutions in Digital Health, Metaverse & Gaming, Electric Mobility, Display Solutions, and Smart Lifestyle. In our conversation with Sokwoo Rhee, we cover the details of how LG Nova is structured, its macro objectives and relationships with other entities of the LG galaxy (ie LG Tech Ventures).

Open Innovation models are evolving, we often say.
Describing the Zurich Innovation Championship, Joel Agard, Group Head of Innovation, Zurich Insurance Group, says that it is not an accelerator but it is more than a venture client.
Through its 40 group's companies Zurich Insurance Group scouts over 3000 startups per year. About 150 are invited to the local “Super Days” organised by in the different markets. Of them about 50 are admitted to the Global Round in front of the Excom. 15 enter the 4 -month program that has the goal of validating the solution through 3 sprints: “Desirability”, “Feasibility” (technical, regulatory, ethical, legal/compliance, brand consistency) and “Viability” (that means producing a joint biz plan).
No equity is involved. The outcome of the program - that is more a POC deployment rather than an Accelerator - is to start a partnership or licensing agreement that might eventually lead - down the way - to an investment or acquisition.
Which KPIs? “Our goal is to have green or red flags. We are not interested in having many pilots (“we are not Lufthansa”) but producing results. Therefore we try to reduce the amber lights that at the end turn into zombie projects that waste resources (both for us and for the startups).”

In today’s episode, our CEO Marco Marinucci has the pleasure of hosting Gen Isayama from @WIL - World Innovation Lab. Gen dives deep into how to bridge the gap between Japan and the entire innovation ecosystem around the globe, mainly focusing on Silicon Valley.
The World Innovation Lab was founded with the vision of creating an innovation hub for corporations. Unlike traditional Corporate Venture Capitals (CVCs) or company outposts, Gen aims to establish a vibrant lab where individuals from various industries could come and go, constantly learning and contributing to the greater innovation ecosystem.

In 2021 when AE Industrial Partners partnered with The Boeing Company to manage and invest in HorizonX Ventures Boeing's venture fund. AEI Horizon X focuses on investing in mobility, space and connectivity, industrial tech, and enterprise digital solutions all with a strong emphasis on sustainability.
During the episode, we explore the exciting world of corporate venture capital and its transformation over time. Brian Schettler explains why it's crucial to start by fostering internal support and demonstrating the potential benefits of this approach.
”Patience, explanation, and political capital are the building blocks for a successful CVC model.”
Join us to find out how AEI Horizon X, the winner of the prestigious Corporate Startup Stars Awards in 2022, has made waves in the startup investment category

Siemens excels at automating the known, but what about automating the unknown? Join us as we go through the dynamic world of innovation and digital transformation with the cutting-edge technology of D.I. (Digital Industries) with Franz Menzl, VP Technology & Innovation and CTO at Factory Automation, Siemens.
Over nine months, ideas undergo rigorous validation, in two phases: engaging 100 customers and securing 2-3 pilot customers. The journey doesn't end there! Successful teams proceed to a 12-month incubation period, empowering them to shape their promising project.
Gain insights on the possibilities of automating the unknowns and learn how the D.I. Validation Engine has helped Siemens accelerate its processes.

This week we bring you a very interesting episode conducted by our host Marco Marinucci where Amra Al Redha, Aviation X Lab Manager at Aviation X Lab describes how they work to make the impossible possible. Defining moonshots is a challenge that seems impossible to achieve, but when trying to reach the moon, you might hit a star, they say.
Born from the vision and support of the Dubai Future foundation, among the futuristic projects hosted at Area 2071, Aviation X Lab has the mission to imagine (and design) the future of aviation and travel. A joint venture among Emirates airline, Thales, Collins Aerospace, GE Aviation and Airbus, it started in 2019 with 2 “moonshots”, Carbon negative aviation and shifting Airports to Airportals.

The ultimate goal is to offer travelers a seamless journey with contactless touchpoints, enabling them to move efficiently from their car to the plane without wasting time. This is what the “Travel well-being challenge” aims to achieve.
The Dubai Future Foundation and Air 2071 serve as the innovation hub, continuously launching various projects to tackle challenges in the aviation industry. The Aviation X Lab and the Aviation Lab Council play a crucial role in selecting promising projects and providing expert guidance.

Did you know that 45% of startups collaborating with DB Schenker take their journey forward?
Learn about the power of pilot projects driving savings and growth, enabling rapid global scalability for startups. Hosting Ronja Stoffregen, Head of Global Startup Management at DB Schenker.
If you are an Open Innovation enthusiast and you want to know more visit our website https://mindthebridge.com/

Join us in this episode as we explore Ash Fontana's journey from AngelList to Zetta Venture Partners, his pioneering work in democratizing startup investments, and his vision for the AI-driven future. Discover how he is shaping the landscape of intelligent software investment with a steady commitment to technological innovation.

Google is known for its tendency to support entrepreneurship. For years, through its funds; Google Ventures, and Google Capital, they have been investing in startups and have realized that it is necessary to refine open innovation practices and build a holistic engagement with startups. In today's episode Uttam Tripachi, Head of Startup Accelerators and DevRel at Google.

In this episode we’ll explore how a company like the 80+ year-old group Pelliconi approaches the innovation challenges to adapt to today's demands. Pelliconi CEO, Marco Checchi shares his plans and best practices in this chat with Marco Marinucci.

Join us as Alberto Onetti and Marco Marinucci go through the major milestones of the evolution of the French tech ecosystem with Nicolas Brien, Chairman at EuraTechnologies and Former CEO of France Digitale. Explore how today Paris leads innovation in tech investment.

What is the Techstars startup accelerator model and terms? How does it compare with other Tier1 accelerators? Why in Sydney today? What’s the role of local government (NSW) in order to promote the local ecosystem of innovators as the main driver for economical growth? These and other topics in the interview of Kirstin Hunter (Techstars Sydney) with Marco Marinucci (Mind the Bridge) as part of the Mind the Bridge Scaleup Summit Australia 2023.

Telstra Ventures, started in 2011 as an initial extension of Telstra Communications investment arm, has now developed into a multinational CVC fund with multiple third party LPs, and ~$570M invested (and notable wins such as Snap, Docusign, CrowdStrike, …).
Most interestingly, Telstra Ventures developed an internal process for constantly measuring the incremental revenues their activity as an active shareholder is able to bring to their portfolio companies. Spoiler, it’s in the hundreds of millions of $.This and more in this conversation between Marco Marinucci and Matthew Koertge, Managing Partner at Telstra Ventures

Tamara Steffens, managing partner of Thompson Reuters Ventures, brings a wealth of experience and a unique perspective to the world of investing. With over two decades of expertise, she has been instrumental in driving growth and facilitating successful exits for early-stage consumer and enterprise startups.In this Mind the Chat,together with our CEO Marco Marinucci, she delves deep into the realm of CVC, discussing how the landscape of innovation - in particular in the changing news and media industry - has evolved and welcoming a surge of diversity, with an increasing number of female participants.

It doesn’t happen everyday to have a fireside chat with a (former) European Commissioner and a (future) Prime Minister. She is Mariya Gabriel, currently Deputy Prime Minister and Minister of Foreign Affairs of the Republic of Bulgaria. She has been awarded as the” Startup Ecosystem Star for 2023” for her visionary work as European Commissioner that has sown the seeds of innovation across Europe. Specifically the commitment of Mariya Gabriel was instrumental in adopting the New European Innovation Agenda (NEIA) in July 2022 (the prior one was more than 10 years old) that is the EU blueprint of 25 concrete actions for harnessing innovation for economic and societal benefit. Out of these, the flagship initiative of the Regional innovation valleys is designed to uplift regions with lower innovation performance with a €170 million commitment.
“Talent, Innovation, Diversity are always at the centre of my actions. With partnerships and collaboration we can achieve much more than expected. Expected by others, not us. Because we are ambitious.”

Why (corporate) accelerators failIt is not a secret that most corporate (and not only corporate) accelerators do fail. Among the reasons (based on a recent study) being very transactional and taking equity. Intel Ignite, whose goal is to work with the best disruptors of the world (with a focus on early-stage deep tech startups), works differently. The acceleration program is built on a co-founder-as-a-service model. They act as co-founders without taking equity. “Startups are time-bound entities (they evolve very quickly), founders are not.” says Tzahi (Zack) Weisfeld. Intel Ignite aims at creating relationships with top notch founders.To make it work, you need:

• The right people running (serial entrepreneurs)
• The right corporate sponsorship (Ignite is supported by Greg Lavender, the EVP & Chief Technology Officer)

“The atomic unit we work with is not the startup. It is the founder”And, at the end, it pays back to Intel in terms of strategic returns and cultural change.

Alberto Onetti, Chairman of Mind the Bridge, sits down with Agustin Moro, Director of Innovation Services at Telefónica, for a deep dive into the dynamic world of open innovation. In this insightful conversation, they discuss Telefónica's journey in open innovation, tracing back to the launch of Telefónica Open Innovation in 2006 and the subsequent development of initiatives like Wayra and Telefónica Ventures.

“We are obsessed with showing the results of our Innovation activities both outside and inside Telefónica.” says Agustin Moro, Director of Innovation Services at Telefónica. Thus far they have produced over 700 million in revenue and 200 million in cost savings.

Here are the 5 tips of Agustin to Open Innovation managers:

1. Set clear goals and expectations and socialize/communicate them internally
2. Be relevant
3. Be consistent and keep up also when results are not coming
4. Don’t take shortcuts
5. Be ready to hack the system since “doing Open Innovation is not just investing. It is changing the corporate culture”.

Join us as we explore the future of technology in our latest episode. Here, MTB Chairman Alberto Onetti sits down with Nikhil Malhotra, Global Head of Makers Lab at Tech Mahindra, to discuss what we can expect in 2025, bypassing the late predictions for 2024.


Nikhil shares his insights on several key trends:

• The decline of the GenAI hype.
• The necessity for AI sustainability, recognizing its current unsustainability.
• Emerging quantum production use cases, particularly in cybersecurity, cryptography, and optimization.
• Anticipated shifts in biomedicine, driven by the customization of human genome sequencing and advancements in nanorobotics.
• The rise of metaverse industrial applications, with a noted decline in consumer interest.
• A call to align technology and innovation with nature, advocating for a symbiotic relationship between technology and the environment.

Additionally, Nikhil sheds light on Project Indus, detailing India's endeavor to develop its own large language model (LLM) from scratch, a challenge inspired by Sam Altman during his recent visit to India.


Tune in to discover more about these exciting developments and the Indian perspective on cutting-edge technology! #MTBCSS

Innovation is a cosmetic word for making change happen.

"Are you in or out? That's the ultimate question. You can't be half pregnant".
Sometimes, we use the term "innovation" too loosely, labeling things as the "innovation pipeline" when it's just a development pipeline.

Benji Coetzee, Chief Strategy & Development Officer at KPN, knows this all too well. She oversees KPN's innovation activities, including CVC (KPN Ventures) and Venture Client (Liaison Management), and understands that innovation teams are not decision-makers but rather the impartial voice of reason. They provide the tools for change but, in the end, are not accountable for it. However, if they can't convince executives to believe in the narrative, nothing will happen.

It's all or nothing.

And while it's almost impossible to measure the absolute impact of innovation (“There are so many dividends you can extract over time and are very difficult to measure: Product, Business, Time, Churn, Margins, Culture, Brand Value, ... "), KPIs are still important, even the "stupid" ones.
So let's not call it "innovation," let's call it "change projects”.

Join Benji as she delves deeper into this with Alberto Onetti in this new episode!

Championing Entrepreneurship for Positive Impact! 📈

Celebrating his recent award as the Corporate Startup Star 2023, the interview with Anthony Virapin, Worldwide Leader, Entrepreneurship for Positive Impact at Microsoft, summarizes the main pillars of what the company is uniquely doing in the promotion of #entrepreneurship and #startup collaboration.

In this #MindtheChat with our CEO Marco Marinucci, we cover first some of the highlights of Microsoft - OpenAI partnership. We then delve deeper in the Entrepreneurship for Positive Impact program Anthony and his team have been running: metrics, some success stories and its future development.

CampX was launched back in 2020. Labelled as Accelerator, it is actually a Venture Client platform, or, as Helene Niklasson, VP Innovation Ecosystems & Partnership and Head of Camp X - Volvo Group, calls it, a “testing tool” or “validation machine” for onboarding solutions from startups.

In this podcast, she delves deeper into the CampX model alongside our Chairman, Alberto Onetti.
And here are the main highlights:

- Selected startups in very focused areas enter into a POV (Proof of Value). If it is successful, solutions are integrated in technology platforms or services and scaled internally. Since the launch, 80 projects have been validated and about 10-15% of them are currently in the integration phase. The internal target is to run about 50 ongoing projects across the 4 locations (Gothenburg, Lyon, Greensboro, and Bangalore) where Volvo Group has its R&D sites (CampX is under the CTO office).

- In 2022 a Venture Builder was added, and in 2023 an Incubator. Both are deployed only at the Gothenburg R&D facility, but if they prove successful, the CampX team is hoping to roll it out to other sites.

- The Venture Builder, led by Karin Falck, is the landing point for internal ideas and IP that are vetted through subsequent iterations. Thus far 4 projects have been developed, 2 deployed internally and 2 span- out.

- The Incubator programme - led by Robert Jan van Vugt - gives some 30 startups access to the company’s testing labs, workshops and prototyping space for two years. It’s focused on seed/early stage startups that would otherwise be years away from being mature enough for a joint project with Volvo Group.

Volvo Group is among the Top100 world's "Corporate Startup Stars" awarded in Paris last December.

Dive into the world of corporate venture capital (CVC) in our latest podcast episode! Join us as we explore the differences between CVCs and traditional VCs with Johann Boukhors, Managing Director at ENGIE New Ventures, the CVC arm of the French multinational utility company.

Hosted by our Chairman Alberto Onetti, this insightful interview delves into the unique perspective of CVCs. Johann shares invaluable insights, highlighting that while both CVCs and traditional VCs aim to support startup success, they pursue different intermediate objectives. "Our ambition should be to gather strategic market intelligence and form partnerships with impactful outcomes," he emphasizes.

Discover ENGIE Ventures' evolution in strategy, their preference for direct investments, and their sweet spot in Series A funding. Tune in to gain a deeper understanding of the dynamic world of corporate venture capital!

Procurement is often perceived as highly boring and bureaucratic. But it is a massive opportunity. Public sector spending, in the UK only, is about 400 billion pounds a year. In Europe we are talking about trillions of euros.

Nowadays the public sector is facing more challenges than ever before (after Covid, climate emergence, child and social care, security, …) and it has to do it with tight finances. Public organizations have to deliver better, cheaper, and quicker outcomes.

How does the public sector spend money? In the UK 21% of tenders have a single bidder. Why? It is really hard to engage with the public sector, particularly if we refer to innovation.
Rather than prescribing, public organizations should be much more open to the market with the problems they want to solve. They should lower the barriers to entry, bring innovation in and work with diverse suppliers (startups, scaleups, academic span-outs, corporate open innovation depts, …). Public Procurement is not about being first, being an inventor, rather be an intelligent client. 

If you try to do something from scratch, it always costs more. On the contrary, you can derisk by bringing innovation from outside.It Given the budget they have, the Public Sector can really help shaping the innovation ecosystems.

That’s the reason why the Innovation Procurement Empowerment Centre (IPEC) – a Connected Places Catapult project - introduced a Special Award as part of Startup Ecosystem Stars Awards 2024 aimed to recognize and celebrate the most innovative initiatives within the public sector.

This and more in this Mind the Chat with Rikesh Shah - Head of IPE and former Head of Open Innovation at Transport for London (TFL), interviewed by our Chairman Alberto Onetti. 

Tune in to the latest episode of our "Open Innovation Talks" series! 
This time, our Chairman, Alberto Onetti, interviews Kyle Basler-Reeder, Global Open Innovation Lead at ExxonMobil. 

Kyle shares his unique approach to fostering external innovation within a large organization. He explains his go-to questions for anyone looking to embrace open innovation: How much time and budget do you have? What about IP and TRL? Do you have an implementation plan? What is the projected value at scale? What are the chances of success? Top tips include aiming high, involving Business Units from day one, starting with ready units, and streamlining processes. He also emphasizes the importance of internal landscaping, as solutions often exist within the organization. 

Learn how leading Open Innovation is about leading cultural change in this new episode!