Michael Frankel is the Managing Director of Deloitte New Venture Accelerator, a strategy and operations team for new business models. He believes people need to disrupt themselves continually or they will fall behind.
Emergence of the Hybrid
The broader trend of the journey from human to tech is not happening instantly. Things that require judgment and strategy, need a hybrid solution. A lot of technology has moved ahead of the user’s ability to use them. For example, we’ve digitized everything, because companies wanted the data. Now they are suffering from death by data. Talent profiles, of those better at adapting, are the Connector and Implementor. These are people who can be super users and use the info to solve a business problem. Product managers are critical with the adaptability to collaborate across technologies.
Technology that Improves Human Life
Conceptual technology that improves human life is an area Michael is excited about. AI, RPA and machine learning can solve a concrete problem in areas we can drive metrics from.
Corporations & Startups
Corporations interacting with startups is a great challenge. They have mirror image problems. Hard to self disrupt for the corporation. Interacting with startups helps corporate think differently and break the rules. Startups have a blank sheet. Both can benefit from each other. Tactics to collaborate: 1 ) Align your innovation and corporate venturing efforts with people who know sector. 2) Create an environment that allows you to interact. Startups want to talk to people that know the space and can give advice and access.
For More Information
Find Michael Frankel, Deloitte New Venture Accelerator, on LinkedIn or at www.michaelfrankel.net.
You might also be interested in his publications:
- Mergers & Acquisitions Basics The Key Steps of Acquisitions, Divestitures, and Investments – 2nd Edition
- Mergers & Acquisitions Deal-Makers: Building a Winning Team – 2nd Edition
If you liked this episode, you might also enjoy:
- Ep. 118 – ExxonMobil’s Christopher Bailey and Kim Bullock on Corporate Innovation
- Ep. 115 – Doug Branson, Author of The Future of Tech is Female
- Ep. 112 – Ralph Welborn, Author of Topple on Corporate Innovation
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