Entrepreneurial transformation: Ecosystem, experience, experimentation

By OEM Update Editorial June 18, 2019 11:18 am

The development of new business models collectively accelerates and innovates, driving industrial digital transformation, says Dr. Rahmyn Kress, Chief Digital Officer, Henkel and Founder, Henkel X. He discusses how Henkel X – Show & Tell event provides an opportunity to startups to showcase their innovations and offerings.

What would you advice for entrepreneurial transformation with the government’s ‘Startup India’ policy?
With Henkel X, we have been travelling to take the initiative globally and these travels have introduced us to the startup environment in North America, Europe, Asia – China, Singapore and India. The level of entrepreneurship we have seen in India is phenomenal, it is like the bug is in the DNA of Indians. The programmes like Make in India and Startup India are great initiatives that provide an impetus to the startup environment and this is already manifesting itself. Success of a startup is not the measure of success of an initiative. I believe that if corporates use services of startups relevant to their business, and for those that are not, introduce them to other organisations that could use their services, the environment will become conducive for entrepreneurial transformation.

What are the challenges faced by SMEs/MSMEs in adopting the transformation?
It is not just SMEs/MSMEs that are lagging behind; there is a huge issue even with legacy organisations. Large corporates too have issues adopting digital. At the very core of digital transformation is the need for cultural transformation. In today’s fast paced environment, technology is both an enabler and a disruptor. Now, more than ever, organisations need to be able to adapt and scale up quickly. Digital is evolving at a terrifying pace and redundancies are commonplace. The only way to adapt is through collaboration.

What is driving the demand for industrial adhesives in India? What are your growth plans for industrial adhesives business, especially for the automotive sector?
At Henkel, we drive powerful innovations and develop leading technologies that create value for our customers. One of the ways we do this is by studying mega trends, and based on them, developing high impact solutions that make our customers’ products safer more sustainable and efficient.

Trends and developments are closely related to two major global megatrends:
• Alternative energies and sustainability
• Mobility and communication

The adhesive technologies business of Henkel has been leveraging these megatrends by offering high impact solutions to several customers globally enabling new products, making existing products better and improving processes.

Today, adhesives and sealants are an integral part in numerous applications and nearly all end-products across diverse markets. Some examples of our solutions include:

Can you brief us about the Henkel X event?
Henkel X is an open innovation platform that distinguishes itself by being very open to collaboration with several different players. We offer a collaborative approach across all industry sectors to continuously improve customer and business partner relationships and consumer experience. The development of new business models collectively accelerates and innovates, driving industrial digital transformation. The ambition is to unite and accelerate Henkel’s entrepreneurial transformation across three pillars: ecosystem, experience and experimentation. It is about creating an ecosystem integrating a strong, diverse network of partners and experts sharing knowledge, views and ideas; creating experiences by fostering collaboration and innovation via interactive events; and experimenting with new ways of working and building minimum viable products (MVPs) speedily in an agile environment.

Starting with Ecosystem, our Henkel X Mentor program is one such area. The members of the Henkel X mentorship club are the brightest minds in entrepreneurship and industrial thought leadership with diverse backgrounds. Mentorship Days offer a unique chance for our internal colleagues to discuss entrepreneurial ideas with these mentors, get their advice on a current business challenge or have an exchange on any digital topic that they are currently facing. We have also co-founded of Acelerate HER, an initiative in which males in leading positions step up to encourage more women in technology.

What kind of support has Henkel been providing to the startup?
In the area of experience, our Henkel X – Show & Tell event provides an opportunity to startups to showcase their innovations and offerings. We also invite an industry thought leader as the keynote speaker who tells and inspires the audience with his or her digital journey. In 2018, Henkel X organised seven Show & Tell, during which 21 startups showcased their offerings. Of the 21 startups, 18 worked with Henkel to develop proof of concepts and 6 entered long term work agreements. Henkel believes that more than just funding, startups need time, data, guidance and subject matter expertise.

The startups that presented at the recent Show & Tell event in India were Ocean Insights, IndustryBuying.com and Chizel and we opened the event up to our partners to join the pitches and facilitate the collaboration on future collaborative partnerships on innovative topics. Furthermore, we organise regular Fireside Chats and briefings with mentors and industry leaders.

Where do you go from here? What are your future plans?
Our focus with Henkel X going forward will be on future opportunities in market places and platforms, in deep technologies and in new digital technologies with a focus on retail B2B2C and B2C environments that are not asset-based. To make that clear, it will be all about, on a daily basis, how to identify areas that could innovate and even disrupt Henkel’s business as we know it today. The objective is to anticipate, build and invest in new areas, and turn the threat of being disrupted into a proactive innovate-or-disrupt-from-within culture.

The objective is to anticipate, build and invest in new areas, and turn the threat of being disrupted into a proactive innovate-or-disrupt-from-within culture
Dr. Rahmyn Kress, Chief Digital Officer, Henkel and Founder, Henkel X