Coca-Cola is one of the most innovative companies in the world. Looking across the globe, we see this massive business learning at startup speed and using technology everywhere to get the edge.
For example, did you know that Coca-Cola Enterprises in Europe has an open API for consumers and partners?
In the US, Coca-Cola is working with lean guru, Steve Blank, to create a startup powered innovation engine for the business.
21st century corporate survival requires companies to continually create a new set of businesses by inventing new business models. What is sometimes missed is the opportunity for big companies to leverage their enormous assets (brands, relationships, routes-to-market, etc.) in developing these new models. Most startups can only dream of the kinds of assets most big companies have. We believe that using the customer development process to monetize these assets through new business models can create huge competitive advantageand more speed to market for us and other big companies.
This post is a great read to understand some lessons learned in this work.
Tonight, we begin Firehose: Big Data Startup Competition with Coca-Cola Amatil (CCA) and Coca-Cola Accelerator here in Sydney. We will spend 2 days rapidly building new business models and products using 3 years worth of CCA supply chain data. Specialists in supply chain from Coca-Cola will work with the startup community of entrepreneurs, data scientists, engineers and designers with the goal to create 10-15 new startups and validate them with customers.
We’ll share our progress.