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Case Studies - The Growth Labs Corporate Innovation Programs

At The Growth Labs we help companies get greater value from their innovation programs.

We have a formalized system to identify startups, curate and nurture them across industry sectors and technologies. This is done in partnership with startup bodies, incubators and top educational institutes, supported by an industry expert from our team. This ensures that we are able to forge the right partnership.

We have found in our experience that corporates and startups find it hard to directly engage with each other due to clash of culture and philosophy. We combine our knowledge of both worlds to forge a meaningful partnership with great results.

Automobiles

For a large global auto major, The Growth Labs runs their India innovation program.

This involved setting up an on-going innovation program that identifies new technologies and solutions in the automotive and transportation space.

In this program we are identifying high-potential startups and new-age companies with solutions relevant for the client. Under the program, we have already curated over 300 startups and identified over 20 for various levels of engagement.

Education

Client's Problem Statement: Traditional sales method was expensive and ineffective in growing revenue.

Need: To identify innovation to relook at the sales, marketing and customer engagement process

Solutions from the innovation program:

Revamped the sales process via new-age online platform for a centralized marketing & sales program, integrated with in-house call-center.

Outcome: Replaced the large field force, thus significantly reducing cost of sales and expanding reach.

eCommerce

Client's Problem Statement: Stagnating revenue with the traditional model of B2B sales via photographers.

Solutions from the innovation program:

Developed a direct Customer Acquisition platform using a new-age tech solution.

Outcome: Strengthened the consumer brand, easy to use e-Commerce interface and an effective customer acquisition program to sell directly to customers, thereby removing margins and cost of sales.

SaaS

Client's Problem Statement: Net revenue from the SaaS was small although company had a fast expanding customer base.

Solutions from the innovation program:

A market-place model that open avenues for additional revenue from existing clients.

The tech platform for this will help seamlessly integrate range of vendors and service providers relevant to the existing customer base.

Outcome: Added revenue streams without any addition to costs and expanded product offering to customers.

Banking

Client's Problem Statement: Banking segment undergoing significant disruption with Fintech.

We assisted the bank’s innovation program team in identifying relevant startups, curating the most high-potential ones, and making them business ready for the bank to engage with.

We were able to do this quickly and efficiently because of our deep reach in the startup eco-system across India, and leveraging our existing database of startups.

State Govt.

Opportunity : To help startups get greater value from the Government’s startup program.

 

Our solution:

  • Implemented a standard evaluation criterion via a well-calibrated score card to identify need gaps
  • Skill-building programs to address identified need gaps
  • Developed partnerships with industry
  • Created partnerships with investors and accelerators
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