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Innovator Founder and Editor-in-Chief Jennifer L. Schenker
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Most corporate digital transformations have only been incremental, and primarily applied to digitizing core offerings, technologies and processes. The next challenge is adopting new business models that generate significant revenues. Some companies are expanding their business model to own and operate marketplaces that solve industry or market-specific issues by connecting multiple buyers – including competitors – to sellers. Yet only a handful of marketplace models initiated by large companies have been able to generate top-line growth so far. Companies such as Carrefour in Brazil, Ping An in China and DBS in Singapore have generated measurable value, according to a new report compiled by Accenture, the World Economic Forum, and the World Economic Forum Digital Transformation Leaders Network. Others, such as Jio Mart in India and CheMondis in Germany, have made significant investments but their full potential has not yet been realized. The Accelerating Digital Transformation Marketplaces Guidebook, which was released this week, aggregates the views of business leaders on the best ways to evaluate marketplace models and successfully operate them. The report also sheds light on future trends that may impact marketplaces. Read on to learn more about this story and the week's most important technology news impacting business.
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| This is the thirteenth in a planned series of exclusive columns former Cisco Executive Chairman and CEO John Chambers is producing for The Innovator. Chambers, who is widely considered one of the best performing U.S. CEOs during his 25+ year tenure at Cisco, helped grow the company from $70 million when he joined in 1991, to $1.2 billion when he became CEO in 1995, to $47 billion when he stepped down as CEO in 2015. As Executive Chairman, a position Chambers held until December 2017, he led the Board of Directors and provided counsel to the CEO and leadership team on strategy, digital transformation and strategic partnerships, Chambers oversaw 180 mergers and acquisitions during his tenure at Cisco and managed the company through multiple economic downturns He currently runs JC2 Ventures as CEO and serves as an advisor to heads of state, including France’s Emmanuel Macron and India’s Narendra Modi. In this column Chambers talks about how the combination of 5G, AI, and IoT technologies will change how and where we consume data, breaking old architectures and creating a tectonic technology shift. |
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| Frank Mattes, Innovation Expert
Who: Frank Mattes is an innovation advisor to corporates and author of two books on creating new businesses from corporate startups: Scaling-Up Corporate Startups and Lean Scaleup: A Proven Framework For Building New Business From Innovation, which was published in May.
Topic: Helping companies to create new businesses and succeed in corporate transformation.
Quote: "One quick litmus test to judge if your company has a business-building problem is to look at the "Return On Innovation." Typically, it takes three to five years until a new business generates noticeable revenues. So look back three to five years. Which innovation initiatives were on the corporate agenda then? How much money was invested into these initiatives? And how much revenue do they generate today?" |
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| Famoco makes dedicated enterprise Android devices that are embedded with security software and connected to a mobile device management platform. The devices can be used for mobile payments, urban mobility, identify verification and the transfer of sensitive health information. The Paris-based scaleup, which will be exhibiting at Mobile World Congress and is a finalist for a 2021 Global Mobile Award in the “best mobile innovation for the connected human” category, has a presence in more than 45 countries and has shipped a half a million devices. Its customers include telecommunications operator Orange, Vodacom, the United Nations, the Central Bank of Ghana and global medical device manufacturer Microport. |
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Spending on digital identity verification by businesses by 2026, up from $9.4 billion in 2021, according to a new study from Juniper Research. Digital identity verification involves using digitally verifiable elements, such as selfie scans, address checks and knowledge-based authentication, to check identity. The reports predicts the 77% growth will be fuelled by the rapidly growing need to digitally onboard users |
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