Innovation at BCG-DV — Not ‘Winging It’
Recently, the Alliance for SoCal Innovation hosted a private event for corporate executives to tour the founding BCG-Digital Ventures center in Manhattan Beach and focus on the vital practice of corporate innovation. Twelve decision makers gathered for the tour to learn from the experts at BCG and hear a recent success story, as well as share their thoughts on corporate innovation.
The gathering took place at BCG-DV’s stealthy site, which houses enough rooms to service 20 corporate clients at a time. As the legend goes, the shape of the unique facility was designed around the Northrop Grumman’s B-2 single-wing stealth bomber. BCG-DV designers solved the problem of converting the triangular shaped building into a business incubator with honey-comb rooms set aside for full teams (sourced from all over the world) dedicated to building new ventures for their distinguished list of corporate clients.
In their designed space, corporations work with BCG-DV’s team to innovate, incubate, scale, and commercialize a new digital venture. Within 12 months an idea will be fully vetted, tested and ready to launch.
One such example is Repairsmith. Mercedes-Benz Group approached BCG-DV with the hope to develop a digital platform to address the significant loss of customers who stop utilizing dealer repair shops after the original warranty expires. The initial idea to connect car owners to local dealers over a digital platform was scrutinized heavily by real market testing. This research led to the unique concept of servicing a car in the owner’s driveway. Apparently, 90% of car repair can happen without lifting the car in a shop and can be serviced at home. Repairsmith’s easy to use mobile app allows customers to schedule an auto mechanic to meet them at home and service the car quickly and easily in the convenience of their own driveway. The highly rated service has grown rapidly in several different U.S. markets under the leadership of veteran entrepreneur Joel Milne who shared highlights of his startup journey at Repairsmith.
Mercedes-Benz Group found the critical help they were looking for to innovate on a digital platform thanks to the good work of BCG-DV. Other attendees shared their own case studies and lessons-learned with the group sparking a lively dialogue before the group retired to a relaxing cocktail reception. Hopefully, the corporate executives attending the Alliance’s recent gathering on corporate innovation will find the expert support they are looking for to creatively bring digital transformation to their established corporations.
A special thanks to Mike Evans and Gunnar Trommer, both of BCG-DV, for hosting the group, providing an insightful tour of their facilities, and sharing their highly refined approach to spinning up new corporate ventures.
For the corporate giants in need of support with innovation and digital transformation, the Boston Consulting Group – Digital Ventures (BCG-DV) offers a full service incubation platform. Since its inception in 2014, BCG-DV has launched nearly 200 businesses helping their clients find their place in the digital landscape. According to their website, “BCG Digital Ventures (BCGDV) partners with the world’s most influential companies to rapidly invent, launch, scale, and invest in revolutionary new businesses. Our early-stage growth platform includes a diverse team of innovators, entrepreneurs, engineers, designers, product specialists, data scientists, operators, growth architects, and seasoned founders.”