NZBusiness and Management

CORPORATE INNOVATION: NOTHING VENTURED, NOTHING GAINED

A 2018 article in Forbes magazine noted that a growing number of Fortune 500 companies have “incorporated research labs and other entities to further spur innovation. To remain competitive, savvy executives are looking at new ways to bring creativity and speed into the traditional corporate ecosystem.”

Forbes said that more than half of Fortune 500 companies have some kind of accelerator or incubator housed in at least one business unit.

And that is something that some New Zealand corporates are taking to heart too.

Witness a recent move by Fonterra to take a minority stake in Motif Ingredients, a US-based food ingredients company that develops and commercialises bio-engineered animal and food ingredients. The co-op says in a statement that this is part of the its “commitment to its farmer-owners to stay at the forefront of innovation to understand and meet the changing preferences of consumers,” emphasising that dairy nutrition will always be at its core.

And Lion NZ has a new disruptive division called Lion Ventures which is about to launch its first product.

Just over a year ago campervan and tourism operator Tourism Holdings, which is the largest RV rental and sales

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