Next-generation programme, the KPMG Digital Village x TAG.PASS launched in response to gaps in today’s corporate accelerators
Next-generation corporate accelerator programmes must not only look at the adoption and integration of good ideas, but also help a company in telling the story of their innovation journey. This is the goal of a new type of accelerator programme announced today and developed by the KPMG Digital Village, tapping into the TAG.PASS programme offered by Infocomm Investments Pte Ltd (IIPL).
The success or failure of corporate innovation depends on its ability to become entrenched in existing corporate culture. Tackling internal culture, advocating change and helping corporates tell their innovation story is therefore important if innovation ventures are to succeed in a company.
Addressing the missing pieces of the innovation puzzle
As a result, the KPMG Digital Village has refined its service offering with a next-generation corporate accelerator programme, the KPMG Digital Village x TAG.PASS – Innovation ventures for corporates.
This comes just 5 months into the KPMG Digital Village’s inception, as a response to the needs of its ecosystem of partners, corporates and start-ups in their approach to digital innovation, and the gaps they encounter on their innovation journey.
"In addition to the curation of innovative solutions to meet market needs, the KPMG Digital Village x TAG.PASS programme will focus on helping companies realise the fruits of their efforts to embrace innovation through an agile, iterative 3 month cycle. It aims to help companies with the internal education necessary to help innovation efforts succeed, as well as provide guidance on how best to tell their story to external stakeholders," said Lyon Poh, Head of Digital + Innovation, KPMG in Singapore.
Growing industry partnerships
Since its launch in April 2016, the KPMG Digital Village has attracted a host of ecosystem partners who share the same belief that collaboration is the way to go to accelerate the adoption and commercialisation of innovative solutions.
Dr Alex Lin, Head of IIPL said: "While accelerators seem to be a dime and dozen in recent times, acceleration is still the best way to help start-ups pin down their product-market-fit; and a programme like the KPMG Digital Village x TAG.PASS helps start-ups achieve that by pairing them with corporates, opening up co-innovation opportunities, and access to customers and markets. As we move through different generations of our ecosystems, the institutionalised knowledge of building start-ups found in accelerators is now being decentralised throughout the ecosystem. The shift from commercial to corporate accelerators is a result of that. We’re now in transition into the next generation of ecosystem building, and a programme that mutually benefits both (corporates and start-ups) is a move in the right direction."
Current ecosystem partners who have joined post-launch include AIA Edge Lab, Microsoft Azure and YCH Group’s Supply Chain Angels.
Corporate innovation journey for the future
The innovation cycle of corporates working with start-ups has shifted from tech scanning or investing in a corporate accelerator to one that looks at a more holistic innovation venture. However, many organisations still face challenges in enabling this shift.
Jan Reinmueller, Head of Digital Village, KPMG in Singapore said: "The KPMG Digital Village x TAG.PASS programme will help to guide companies on their innovation journey based on each corporate’s objectives, whether they are looking to solve a specific issue within the organisation or developing solutions around a focus area. Our team will then advise corporates on their approach, either via a corporate venture or co-innovation with start-ups ."
This means that companies looking to integrate in-house innovations into existing systems and drive adoption, or searching for interesting investment opportunities to add value to their business can leverage on the KPMG Digital Village x TAG.PASS programme. This facilitates the access to an industry-wide network of start-ups, companies and solutions on their innovation journey.