Fonterra has launched Fonterra Ventures Co-Lab for anyone to collaborate with the cooperative on disruptive ideas for mutual benefit.
Individuals, small businesses or large corporates around the world can submit game-changing concepts that the Fonterra Ventures team will review and then potentially partner on to scale and succeed together.
Submissions could relate to any kind of disruptive innovation such as new business models, services, technologies or processes.
“We’re actively looking outside our organization and are open minded as to where that could lead us,” said Judith Swales, COO velocity and innovation.
“Through Ventures Co-Lab, we want to collaborate with innovators to think big and win big, together.”
While there is no set formula for the type of relationship to come out of Ventures Co-Lab, it aims to build long-term partnerships with companies that will work in synergy with Fonterra.
Successful applicants can tap into the Co-op’s global reach and know-how at every step of the supply chain, while also getting support from a dedicated team whose sole focus is to drive disruptive innovation.
Fonterra Ventures, led by General Manager Komal Mistry, is a passionate group of entrepreneurial enablers constantly looking for new ways to meet the needs of future consumers and customers.
In addition, Fonterra is cultivating a culture of entrepreneurship internally through programs like Disrupt.
Disrupt harnesses the curiosity and talent of people within the organization to create innovative businesses models.
Staff are given the opportunity to submit ideas, proceed to a 12-week accelerator and potentially land a new day job if their concept is implemented within the business.
“We know that innovation and disruption can come from anywhere,” added Swales.
“We invite people to join us on the journey and radically change the way things are done.”