MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts
It is very difficult when you are a start-up which is ahead of the curve. It is very difficult for many reasons but one which is that you see and make changes, and that many people want change but they expect changes to come from the established companies. Why? Less risk, more comfortable for them, wait for a plan and process, etc.
But change comes mostly from small companies. Savvy large corporations know that ‘for the most part’ they are behind the curve and many try different strategies to cope with this.
One smart process used by large companies to gain innovation, besides buying a ‘promising’ start-up, is to work with incubators.
A business incubator is a company that helps new and startup companies to develop by providing services such as management training or office space.
Mot many large companies are doing it because very few companies get the point of this at the moment.
Disney Accelerator is a rare exemple. It is powered by Techstars, is helping today’s tech innovators turn their dreams for new media and entertainment experiences into reality.
LA Cleantech Incubator is the City of Los Angeles’s official cleantech business incubator established to accelerate the commercialization of clean technology in Southern California.
Now, in the wine & spirits industry innovation is mostly driven by merger and acquisition. The concept of accelerator and incubator is mostly unknown. DIAGEO, Pernod-Ricard, Bacardi, etc. the big guys are struggling with generating ‘disruptive’ innovations and they are often relying on buying out companies which have successfully launched something new which made sense.
My biggest surprise was to hear in 2013 that DIAGEO was creating its own accelerator and incubator program.
DIAGEO!! Are you kiddin me!
Well they are the biggest and they know how to stay the biggest by taking all the necessary steps to maintain their leadership.
DIAGEO called this ‘Distill Ventures‘. I am blown away, check them out!
I believe there are incubating 8 spirit companies right now.
Source: Distill Ventures