December 13, 2017
Edenred launches Edenred Factory, its internal start-up incubator
Edenred is launching Edenred Factory, an international intrapreneurship program that invites the Group’s employees to become entrepreneurs by supporting innovative and high-potential start-up projects. In March 2018, the Group Executive Committee will select two applications that will then be incubated for 6 months. An initiative in perfect harmony with Edenred’s global innovation strategy.
From December 2017 to February 2018, Edenred employees based in Europe, Brazil, Turkey and at Group’s head office can submit their start-up projects in the Group’s two main business lines: Employee Benefits and Fleet & Mobility Solutions. In March 2018, the candidates will present their pitches to the Group Executive Committee, which will select two projects for further development between April and September 2018.
The winning intrapreneurs will be entitled to a temporary assignment during the 6-month incubation period, so that they can work full time on their projects. They will be hosted at Edenred’s head office, where they will receive support and advice from the Innovation teams and a digital consulting firm.
The two projects will be assessed after the 6 months of incubation. Depending on their level of potential, the projects will be deployed at Edenred, or will benefit from an excubation in the form of an independent business unit.
A new step forwards in Edenred’s innovation strategy
As a precursor of open innovation, Edenred has developed a global system that anticipates trends and explores the ecosystems close to its core business.
The Group has been working with the Partech Ventures investment fund since 2011 by supporting young and fast-growing companies involved in the digital economy : new Internet services, e-commerce, e-marketing, new means of payment, online and mobile services (e/m/s-commerce, logistics, recruitment, education, healthcare, etc.) and tech adoption (connectivity, marketing and other hi-tech applications).
In 2012, Edenred founded Edenred Capital Partners, its own Corporate Venture Capital initiative, with a view to acquiring minority stakes, usually in the form of co-investments with other funds, in innovative projects with a high growth potential positioned in areas close to the Group’s businesses. In France, Edenred Capital Partners has invested in La Compagnie des Cartes Carburant, Lucky Cart, ProwebCE, Zenchef, Ouiteam and Addworking, and in LaunchPad Recruits and Beamery in the UK.
“Edenred was well established in the start-up sector already through its partnerships with Partech Ventures and Edenred Capital Partners. Edenred Factory will allow disruptive ideas to emerge internally, with a high potential for the Group, and will convert them into concrete projects. It combines the agility of a start-up with the power of a world leader in its field of business. Edenred Factory is the latest step forwards in this global strategy” points out Elie du Pré de Saint Maur, Executive Vice President, Marketing and Strategy.
