Roundtable Recap: April 18 – Do NOT Spend All Your Savings on a Startup Venture

During this week’s roundtable, we had as our guest Paolo Juvara, Group Vice President, Oracle Applications Lab, Oracle.

Oracle has been a partner of 1Mby1M since 2013 and has built its internal innovation program on the 1Mby1M Incubator-in-a-Box platform. In this session, Paolo and I discussed the secrets of the success of the program. A unique window into corporate innovation thought leadership.

Talking Street

As for entrepreneur pitches, we started with Maheima Kapur, from Bangalore, India, pitching Talking Street, a curated food review-based content project that has already amassed significant social media following. The problem is that content doesn’t monetize, so I advised her to focus on the events business that does seem to monetize.

>>>

Thought Leaders in Corporate Innovation: Paul Daugherty, CTO and Chief Innovation Officer, Accenture (Part 5)

Sramana Mitra: In some of your ideas that you’ve presented in the book, you are talking about AI being an augmentation factor as opposed to displacement factor in various workflows. I think the classic one that fits that bill would be in healthcare with doctors working with patients and electronic medical records. It’s actually a big frustration area for me as a consumer to watch how badly medical systems use technology and data.

Would you comment on that? I’m sure you are working with health systems as clients. Where is the problem? Why is this not moving faster? I’m very pleased that cyber security and online advertising are moving, but why is healthcare not moving as fast? >>>

Thought Leaders in Corporate Innovation: Paul Daugherty, CTO and Chief Innovation Officer, Accenture (Part 4)

Sramana Mitra: From an innovation process point of view, how do you look at this? Is the actual technology mostly coming from the startups and you’re folding them into the particular vertical practice area or horizontal practice area?

Paul Daugherty: There are different tiers of innovation that we see. We work with the big platform companies like Google, Amazon, and Microsoft. They’re creating platforms at scale and innovating very rapidly. We’re seeing some startups use some of that technology to build businesses around it. We see tremendous innovation from entrepreneurs. They’re bringing in new approaches like pattern recognition for radiology diagnostics. >>>

Thought Leaders in Corporate Innovation: Paul Daugherty, CTO and Chief Innovation Officer, Accenture (Part 3)

Paul Daugherty: We also have another component of Accenture Ventures, which we call Open Innovation. It’s our program for working with all the entrepreneurs, accelerators, and incubators that we can find. We have a team that focuses specifically on open innovation.

We currently have over 3,000 startups that we’ve met with. We’ve curated and understand what we do. That number is ever growing and is growing very rapidly. We curate them into a framework so that we understand, for a given startup, what stage they are at, how ready they are to go to large corporate clients, and what industry and geography they specialize in. We have a system that we track all that in. >>>

Thought Leaders in Corporate Innovation: Paul Daugherty, CTO and Chief Innovation Officer, Accenture (Part 2)

Sramana Mitra: There’re a lot of things you said there that are worth double-clicking down on. Let me start pulling some of it out and explore further. One thing you said is that we are in a continuously evolving industry and we have to practice continuous innovation.

One of the ways you do that is through grassroots innovation across your 440,000 employee base. What is the structure of that? How do you engage this very large base of talent in the innovation philosophy or innovation agenda? >>>

Thought Leaders in Corporate Innovation: Paul Daugherty, CTO and Chief Innovation Officer, Accenture (Part 1)

Accenture is deeply entrenched in innovation as technology moves at a breakneck pace, and their clients all need to stay apace. Read how Paul and his organization structures continuous innovation.

Sramana Mitra: Tell us a bit about how you are thinking about corporate innovation at Accenture from a broad framework point of view.

Paul Daugherty: The way my job and my role is shaped is to look ahead a couple of years and make sure that we’re always moving Accenture’s business in the direction technology is going so we are better positioned and even more relevant in the future than we are today. Accenture is a big company. We have about 440,000 people and about $35 billion in revenue. It’s a big >>>

394th 1Mby1M Entrepreneurship Podcast With Paul Daugherty, Accenture, On Corporate Innovation

Paul Daugherty is CTO and Chief Innovation Officer at Accenture, which is deeply entrenched in innovation as technology moves at breakneck pace, and their clients all need to stay apace. Learn how Paul and his organization structure continuous innovation.

Podcast: Play in new window | Download

Subscribe: Apple Podcasts | TuneIn | RSS

An Open Letter to ALL Accelerators

Friends,

Recently, the NetApp Accelerator granted scholarships to the 1Mby1M Program as an augmentation to their offering. You can find out more about this partnership here. It offers an opportunity for startups to readily access ALL of 1Mby1M’s extensive knowledge base, mentoring support and network in Silicon Valley and elsewhere.

I would like to take this opportunity to invite ANY technology startup incubator and/or accelerator anywhere in the world to do the same. Please review the 1Mby1M Incubator-in-a-Box for Accelerators and if you’re interested, please get in touch with us.

Think of us as a chip that you can install onto your own program, and enhance its power.

We look forward to working with you!

Yours, Sramana