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Open Saretec: a program for internal startup acceleration

Open Saretec: a program for internal startup acceleration

An internal innovation initiative, to diversify and auto-disrupt Saretec 

Project / 2016

SARETEC

Business Design, Open Innovation, Strategy

The incubator: an internal device innovation, with stakes diversification and self-disruption from Saretec

In this period of change for the sector expertise, we wanted to strengthen our ability to offer new services to our markets and customers, identify areas for development and open new fields of intervention, especially in the digital domain-

François-Xavier Lemaire,deputy CEO of Saretec, quoted in the insurance Argus.

 

Since 2015, FABERNOVEL INNOVATE has worked with Saretec, a leading French insurance company, to develop its innovation strategy.We have jointly developed “Open Saretec” an internal initiative that involves the whole workforce, and that encourages diversification and auto-disruption.

The “Open Saretec Challenge” is a call for internal projects that has enabled us to identify more than 70 ideas for new business across four themes. It also enabled us to determine which of the group’s employees were able to manage and develop these ideas. Three pairs of entrepreneurs were selected, after a selection round and pitch to aSelection Committee consisting of group leaders, including a venture-capitalist and a director from the FABERNOVEL group.

Five weeks of acceleration at FABERNOVEL INNOVATE.

5semaines acceleration FAB

 

The “intrapreneurs selected joined the FABERNOVEL INNOVATE incubator, a start-ups acceleration program in large companies aimer at creating prototypes; testing and validating business opportunities in a five-week time frame. At the beginning of April 2016, three SRATEC start-ups benefited from intensive support that enable them to present their project to an investment committee, made up of directors from both Saretec and FABERNOVEL. The five-week program was well planned out and included:

 

  • Accelerated training methods for the creation of start-ups (Lean Start-up, Design Thinking)
  • Personalized daily coaching
  • Weekly updates with program mentors
  • Workshops with experts (customer journey, rapid prototypage, UI, AdWords)
  • “Master Class” from external participants (entrepreneurs, investors, academics)
  • Regular pitch exercises

 

This experience, which fits into and is developed around the new economy, is a first for FABERNOVEL INNOVATE and Saretec. Rich in lessons, this incubation with the Saretec “intrapreneurs” enabled us to share our best practices and expertise. Something we’re very proud of.

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