OUTGOING StartupAUS CEO Peter Bradd and Jack Delosa have teamed up to teach 'intrapreneurial' innovation to the ASX 20 and beyond.
As founding director of peak industry body StartupAUS and Sydney tech co-working community Fishburners, Bradd (pictured below right) established himself as a leader in entrepreneur advisory.
Delosa (pictured left) has a similar background as founder of The Entourage, Australia's largest educator for and community of entrepreneurs.
The two have come together and created The Entourage Beanstalk Factory, which will teach individuals to innovate within existing big business.
'Design thinking' and 'agile delivery' are two of the approaches The Entourage Beanstalk Factory are encouraging clients to adopt, says Delosa to Business News Australia.
He adds that The Entourage Beanstalk Factory is already advising companies in the ASX 20, but can't disclose names.
"These companies have different innovation objectives," says Delosa. "Some are aiming to transform their existing business model to deliver in a new, more customer centric, productive and competitive way, while others are taking advantage of their underutilised assets to bring in new revenue streams."
While big corporates were high in ivory towers for the most part of the 20th century, 28-year-old Delosa says the future is no longer 'proofed against' for our biggest corporations.
"Their biggest problem is making sure what they are putting out now is relevant in 5 to 10 years, so we are really encouraging a lot of thinking around lead startup methodology based on legions of research over the past decade into entrepreneurial thinking," he says.
Bradd says when it comes to the need for this service, the proof is in the pudding.
"Global Innovation Index Australia ranks us 81st for innovation efficiency and last in the OECD for research-business collaboration," says Bradd.
"Entrepreneurs and small business start-ups have constraints which force them to think creatively and act in a lean way and this thinking definitely has a much-needed place in corporate Australia."
And the name, The Entourage Beanstalk Factory?
"It comes from the well-known fairy tale of how Jack and his family's cash cow stops providing milk, forcing him to sell it," says Delosa.
"Instead Jack - an early entrepreneur - trades the cow for some magic beans which eventually results in a profitable business selling golden eggs, and the hand in marriage of a beautiful princess.
"We can see parallels between what Jack achieved and with modern business, in particular in terms of corporate disruption and corporate innovation."
Get our daily business news
Sign up to our free email news updates.