It has always been pretty interesting how big corporations impact innovation growth and build all sorts of business connections with smaller ventures and today even startups in order to encourage progress. VCEE Startups had a great chance to learn more about the work of one of the “Big Four” largest international professional services network companies – Deloitte. Tomas Davidonis, head of the legal practice in Tax & Legal Department at Deloitte Lithuania, shares some of the company innovative expertise.
How does the innovative part of the company look like: any foregoing examples how Deloitte differs significantly and advantageously on today’s market?
Nowadays there are lots of talks about innovation, but what does it actually mean? In our experience, innovation results from the convergence of a wide range of perspectives, knowledge and insight focused on specific industries and issues. And Deloitte has the reach and talent to make those connections.
Innovation is a key pillar of Deloitte strategy. Advising our clients, we have always applied value-adding innovative ideas combined with up-to-date operational methodologies. Deloitte teams work consistently to achieve their fundamental goal – becoming the standard of excellence in the market.
Deloitte is well known in the market for its programmes for startups and innovation projects.
Please give an example of a success story on how Deloitte helps startups to go global/integrate their solutions in the company work.
Smappee is a startup with a unique product: an innovative energy meter with an accompanying app that allows users to save up to 12% of electricity. This technology can break through on an international scale, believes Hans Delabie, the COO of Smappee. “Our scope was worldwide from the very start of the development of the product. We first launched our smart energy meter in Flanders and the Netherlands, and then the rest of Europe. But via our webshop we soon also received orders from Australia, America and Canada. Thanks to e-commerce we’re found all over the world in the space of a year”. A year is nothing in business terms.
Smappee is not the only rapidly growing startup though.
iText: Ghent-based company iText, which generates and processes PDF documents, also grew very quickly over the past five years. The founder Bruno Lowagie says: “We are strong in Europe and the US, but we see huge opportunities in Asia”. Deloitte lauded iText for this with its Technology Fast 50 programme, an initiative that gives the fastest start-ups the necessary acknowledgement every year. “Often this gives them a small foothold in the talent market,” says Nikolaas Tahon: “Young people like to work for companies that have already built a reputation, but in most cases startups have not yet done so. Fast 50 helps them with this. It also offers a platform. They meet other people with the same problems and can learn from each other. It allows us to get to know each other better.” iText has already carved out its niche in the market, says Bruno Lowagie: “Chances are that if you order a ticket online from an airline company it is delivered using our software”.
Deloitte Technology Fast 50 inCentral Europe is a programme that recognizes and profiles fast growing technology companies in the region. The programme, which is now in its 16th year, ranks the 50 fastest growing public or private technology companies.
The Rising Stars awards go to those companies that are too young to feature in the main Fast 50 report, but have recorded such spectacular growth rates over the last three years that they are almost certain to be included soon.
The Deloitte Technology Fast 50 in Central Europe is a part of the Deloitte Technology Fast 500 EMEA, which ranks the 500 fastest growing technology companies in Europe, the Middle East and Africa based on percentage growth in operating revenue over four years. The programme was created to recognize the effort and dedication of those 500 fastest-growing technology companies and includes all areas of technology.
Two companies from Lithuania have made the list this year of Deloitte CE Technology Fast 50: Ruptela UAB (36th position) and nSoft UAB (40th position).
In this year’s ranking, for the first time, Lithuanian technology companies made the list of Rising Stars and Big 5 categories.
Lithuanian technology company INVENTI, which is a cloud solutions creator, made the list of Rising stars category with its growth of 271% (7th position in the Rising Stars category).
The Big Five category rewards those companies that, although fast-growing in their own right, are too large to compete directly on revenue growth terms with smaller businesses in the Fast 50. Lithuanian e-commerce business Pigu, which entered this category for the first time, comes second (235%).
Also, it is worth mentioning that over the past two years, Deloitte Lithuania has helped over 20 startups, mostly from CIS countries, to relocate their business to Lithuania. Such relocation has become or is expected to be their place for jump to the global markets.
Deloitte assisted in establishment of over 20 companies, obtainment of over 200 residence/work permits for the employees of the startups and their family members as well as provided consultation on various legal (and other) issues startups faced during the relocation and settle in period.
Our consulting experts are helping the selected Lithuanian startups to make the research or prepare the foreign market entry strategies. We are also selected as an audit company for a number of Lithuanian startups, including Vinted.
Going forward closer to investment topic: a few words about investment activities.
Deloitte in Central Europe issues an annual publication “Investing in Central Europe”. The key drivers for investors making cross-border direct investments are usually either to gain access to new and growing markets or to reduce costs. The countries of Central Europe score highly on both. This publication offers a useful guide for potential investors with Central Europe on their radar.
What is the brightest event organized/co-organized by Deloitte for entrepreneurs?
The brightest events organized/co-organized by Deloitte for entrepreneurs:
Please name total amount and exact names of the programs for startups&SMEs Deloitte possess in Europe and CEE. How the work is structured
Startup Fest Europe 2016 (24-28 May, the Netherlands)
Deloitte is a partner of the Startup Fest Europe. Startup Fest Europe is a nation wide festival of events that help startups grow faster by bringing together founders, investors, business leaders and developers around specific themes (or verticals). It is a four-day marathon of matchmaking between startups, investors, developers and corporates. Fourteen regional innovation hubs will host world class events on specialized topics.
It is essential to mention that Deloitte Amsterdam office is the most innovative and sustainable business in the world, awarded by BREEAM.
Deloitte Booster Academy (Belgium)
Startups in the BoosterAcademy will be taught interesting topics related to enterprise and innovation, including how best to deal with intellectual property, aligning R&D and go-to-market, international expansion, etc. Members will be invited to attend various technology-based theme evenings, giving them the opportunity to speak with national and international tech specialists.
Deloitte Innovation Centre
The Deloitte Innovation Centre was launched in 2014 at De Hoorn in Leuven. The aim of the Deloitte Innovation Centre is to stimulate the Belgian economy by supporting innovation and entrepreneurship. In doing so, it will focus on young technology companies involved in analytics, digital, cyber security and mobility solutions.
The Centre intends to give young entrepreneurs the boost they need for their business, including access to Deloitte’s extensive range of knowledge and its C-level mentoring that will help speed up the development of these new companies. For example, Deloitte staff will have the opportunity of sharing their knowledge with young talents, while at the same time keeping their finger on the pulse of new developments in the marketplace.
Deloitte seeks to promote open innovation and continue to build on existing incubator and accelerator programmes by encouraging innovation in Belgium.
With its access to local and global networks, Deloitte Belgium is uniquely positioned to help stimulate innovation in Belgium and help startups accelerate to the next level of maturity.
The Deloitte Innovation Centre offers a range of different programmes, including various events for members, a BoosterAcademy and the Booster Programme. Members are being invited to attend various technology-based theme evenings, giving them the opportunity to speak with national and international tech specialists. The Academy teaches interesting topics related to enterprise and innovation, including how best to deal with intellectual property, aligning R&D and go-to-market, international expansion, etc. In addition, a number of selected startups will be invited to join the Booster Programme, where they will be assigned a mentor and be guided through a range of topics vital for their business (accounting, sales, funding, etc.).
Bridge by Deloitte
Bridge is a subscription-based digital platform that helps enterprises connect directly with startups, monitor the innovation landscape and foster new ideas together. It combines the sector-specific knowledge and depth of Deloitte insights with powerful algorithms to scan the innovation ecosystem for startup partners based on specified criteria.
Using an intuitive digital platform accessible to every team in their enterprise, partners have access to a marketplace-curated ecosystem of vetted innovators. With immediate results in hand, the team can connect with innovators on the platform or craft customized updates tracking innovation activity in its chosen sector. Different business units within the enterprise can use customized tracking and management functions to share what they have learnt about innovators in their fields.
It can be risky and time-consuming to rely on internal research and development groups or to launch external incubators from scratch. Using Bridge to connect with innovators gives large enterprises a quick, efficient path from identifying a need to innovate to addressing that need.
With Bridge you can:
Find top startups for your organization. Answer questions that narrow the chaotic startup landscape to identify desirable partners that match your business’s strategic goals.
Discover specific business problems each startup can solve. The Use Case Library organizes business problems into easily understood outcomes and activities.
Search by startups, innovation categories and business problems. Powerfully search an exhaustive startup profile database that aggregates public information and Deloitte insights.
Explore innovation categories relevant to your business. Startups are categorized specifically for each sector to simplify the process of discovering emerging trends in your industry.
Align efforts across business units. CRM, tracking and portfolio management functionality allows business units to share research and progress regarding startups.
Deloitte University (US)
DeloitteUniversity, The Leadership Centre, officially opened in October 2011 inWestlake, Texas. Deloitte is committed to growing leadership skills at every level of the organization. Since Deloitte treats its’ professionals as Deloitte’s greatest asset, it is committed to invest in them and develop them as leaders. DeloitteUniversity is more than a physical location – it represents the global expansion of a different and better way of doing business.
Humanitarian Innovation Programme
At Deloitte, we are committed to shaping innovations being at the heart of change and progress.
Through the Deloitte Humanitarian Innovation Program, the professionals of Deloitte member firms and humanitarian organizations co-create and implement solutions to the sector’s most pressing challenges. By collaborating with local, national, and international humanitarian leaders – combining diverse skills and expertise – we enhance the ability of the sector to prepare for, and respond to, crises.
Innovation Partnership Program (IPP)
IPP, is a unique innovation initiative and community, which helps business leaders harness the power of disruptive technology and the wisdom of crowds. Working with SingularityUniversity and the XPRIZE Foundation, Deloitte provides a virtually unprecedented business innovation program that prepares senior client executives to lead their organizations to thrive in an era of disruption.
IPP brings senior business leaders from Fortune 500 companies together to learn from Silicon Valley’s leading minds.
IPP is a selective, membership-based program that educates business leaders on the domains of technological change already reshaping industries and society and equips them to tackle disruption, form alliances and revolutionize their industries.
Participation in IPP is by invitation only.
The Deloitte Institute of Innovation and Entrepreneurship (UK)
The Deloitte Institute of Innovation and Entrepreneurship was established in 2011 to equip and inspire entrepreneurs, innovators and the leaders who design the ecosystems in which they thrive. The bedrock of the Institute is rigorous research in a field which is too often driven by popular wisdom.
The Institute’s mission is to have a profound impact on the way the world does business, by inspiring innovators and entrepreneurs and equipping them with the expertise and insight to drive growth.
All this looks like a proper engagement of the international corporation in currently developing business projects. And with such a huge network of partners and offices, Deloitte acts with a strong focus on local projects within separate ecosystems (like CEE) and this way brings them to the global level.