Incumbent and Insurgent: Adding Value Together

TechStars

Today, global energy corporation Equinor and startup Crux OCM are working together to test Crux OCM’s software, which functions as an “autopilot” for oil and gas control room operators. It’s early days yet, but if the Crux OCM solution works and scales, it will lead to efficiencies, cost savings, and new revenue opportunities for Equinor.

[Varo Money in The Financial Brand] U.S. Challenger Banks Turn Up the Heat on Incumbents

OurCrowd

Challenger Banks Turn Up the Heat on Incumbents appeared first on OurCrowd Blog.

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The Future of Corporate Venture Capital

500

Conventional wisdom dictated that incumbents should focus their innovation efforts on R&D and growing their cash cows while investing in a few startups. The following is an excerpt from 500’s CVC report. How has corporate venture capital changed? In the decade since the Great Recession, we have seen digital upstarts – taking advantage of disruptive technologies from AI to IoT – reshape the economy and the corporate pecking order.

Understanding How The Innovator’s Dilemma Affects You

Both Sides of the Table

The thesis of the book is that incumbents in markets – especially large and well entrenched markets – seldom survive fundamental technology changes in their industries. It should affect how you think if you are an incumbent but also if you’re a startup. Let’s start with the incumbents position in a market. It is often the situation that the incumbent offers a product that is vastly superior in the market in terms of performance or functionality.

How To End Your Pitch with Your Vision

Dream It

As all investors know from the case of Uber, you cannot size a market based on an incumbent. Getting investors excited about your product is a critical part of raising capital.

The Duolingo English Test

A VC: Musings of a VC in NYC

The “incumbent provider” of English proficiency tests, Test Of English As A Foreign Language (aka TOEFL), has had all of the companies and universities who accept it locked up for many years. But in some markets, incumbency matters more than better. I wrote about our portfolio company Duolingo’s English Proficiency Test back in August of last year.

Fintechs could see $100 billion of liquidity in 2021

TechCrunch

For the fourth straight year, the publicly traded fintechs massively outperformed the incumbent financial services providers as well as every mainstream stock index. Jake Jolis. Contributor. Share on Twitter.

How to Build a Team That Can Navigate Your Business Through Difficult Times

Entrepreneurs' Organization

Meanwhile, it’s incumbent on you as the CEO to create an environment that encourages action-oriented behavior. Contributed by Chen Amit , co-founder and CEO of Tipalti. Entrepreneurship is one of the most challenging vocations on earth.

FintechOS nabs $60M for a low-code approach to modernizing legacy banking and insurance services

TechCrunch

Now, a startup out of Romania that is building tools to help the incumbents respond with better services of their own is announcing a significant round of funding as its business grows.

UK challenger bank Starling raises $376M, now valued at $1.9B

TechCrunch

Starling — which competes against incumbent banks, as well as other challengers like Monzo and Revolut — said it will be using the money to continue its growth.

How to Get a CISO to Buy Your Product

Dream It

Find out how incumbent products you are likely to replace are performing. To keep an organization safe, a CISO depends on as many as 50 to 100 different products. This presents a huge opportunity for startups. However, this means that a CISO sees a LOT of pitches in their role.

What To Do When Your Competitor Gets Funded?

Both Sides of the Table

And our competitors are not really each other but the incumbent businesses that have 99.9% ” In summary: The competitors are the incumbents. This morning Clutter.io announced they raised $9 million from Sequoia , arguably the best venture capital firm that exists. Congratulations. Sincerely. Conventional wisdom says I shouldn’t tell you this because I invested in their main competitor, MakeSpace.

Tractable raises $60M at a $1B valuation to make damage appraisals using AI

TechCrunch

And while a new generation of “insurtech” startups have emerged in recent years that are bringing more modern processes into the equation, typically the incumbent major insurance companies — the ones that Tractable targets — have lacked the technology to improve that process.

The Market Diversifies: International Innovation Captures Larger Share Of Startup Funding Applications

Gust

Quarterly data from Gust, the online platform for the global angel investment industry, reveals that while incumbent leaders show no sign of slowing down, new industries and areas Read more >. In Q3 the global startup ecosystem continued to thrive, with 25% growth over the same quarter last year and up 18% from last quarter, as the innovation economy expands around the world.

How to Decrease the Odds That Your Startup Fails

Both Sides of the Table

So when Sam Rosen came to me with the idea of disrupting storage with a product that is priced cheaper than existing incumbents and he could build a product that is a better service I was intrigued. dominated by a few very large incumbents who control much of the distribution or are you going into a market that is “fragmented” where nobody controls the industry. Incumbent Strengths & Weaknesses. Many startup businesses – tech or otherwise – fail.

How COVID-19 is Changing Digital Health

Dream It

However, if you’re already an incumbent at a large health system with a compelling Covid-19 use case, then you’re in a really good spot.

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Mambu raises $135M at a $2B+ valuation for a SaaS platform that powers banking services

TechCrunch

It will be interesting to see how newer entrants in the SaaS banking-platform space disrupt what are, effectively, becoming incumbents in their own right: Mambu is now approaching 10 years old (it was founded in 2011).

Pomelo raises $9M to build a payments infrastructure for LatAm fintechs

TechCrunch

Cards have an estimated payments volume of $900 billion per year, and yet 95% of these transactions are being processed by local incumbents, asserts Pomelo. incumbents. “It

Former Salesforce chief scientist announces new search engine to take on Google

TechCrunch

Richard Socher, former chief scientist at Salesforce, who helped build the Einstein artificial intelligence platform, is taking on a new challenge — and it’s a doozy. Socher wants to fix consumer search and today he announced you.com , a new search engine to take on the mighty Google.

The Uber that Never Was

This is going to be BIG.

Using the proliferation of newly GPS-enabled mobile devices to enable taxi hailing and beat out stagnant incumbent providers was always going to be a big win for consumers. It provided a better service than existing cabs were going to be able to do for at least several years—cutting out lots of unnecessary overhead in the system. Had it been built differently, it could have been a better company and honestly I’d like to believe maybe even a more valuable one in the long term.

Insurgent UK broadband startup Cuckoo Internet raises $6M round led by RTP Global, with JamJar Investments

TechCrunch

Cuckoo Internet, which is aiming to be an insurgent startup in the broadband provider space in the U.K., has closed a $6 million investment round led by RTP Global, along with participation from JamJar Investments. It will also launch on price-comparison site uSwitch.

Why Taking a Customer-Centric Approach Significantly Reduces Risks and Increases Your Chance of Success

StartupNation

B2B companies face a similar battle against multibillion-dollar incumbents and unicorn startups. They know that this knowledge will become their edge, their primary competitive advantage, against incumbent and nascent competitors.

Both Things Can Be True: Bias and Bad Fundraising Advice

This is going to be BIG.

We’ve seen studies on how men and women get asked different questions, but I also think it’s incumbent upon all founders to control the conversation. Fundraising takes a long time. I’m a female founder. I don’t have a technical co-founder. I don’t have enough traction.

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The Future of Hospitality is Here

Revolution

and by substantial amounts of invested capital in formal amenities required by incumbent brands that are frequently cost centers rather than profit centers (lobby restaurant, room service, etc.). Image courtesy of Mint House Real estate lies at the core of our everyday lives?—?it it characterizes the space in which we live, the environment in which we work, and the places where we socialize.

Digital road freight forwarder Sennder raises $160M Series, plans European expansion

TechCrunch

Sennder competes with large incumbents like Wincanton and CH Robinson, as well as other startups such as OnTrac and Instafreight. Sennder , a large digital road freight forwarder based out of Germany, has raised $160 million in Series D financing.

Sweden-based digital bank Northmill raises $30M

TechCrunch

As it stands, 2006-founded Northmill is available in Sweden, Norway and Finland, where it competes with incumbent banks with physical branches and the likes of Lunar, Revolut and Klarna (which operates as a bank in its home country of Sweden, and Germany).

The First Rule Of Disruption

OnStartups

In just about all cases, to successfully disrupt a large incumbent, your best case scenario is that they completely ignore you and what you're doing. You want the incumbent to act "rationally", because an emotionally fired-up incumbent will come try to crush you simply out of spite and ego. The fact that what you have doesn't meet the needs of the existing customer-base is what makes it easier for the incumbent to ignore you. Working on a startup?

Undock raises $1.6M to help solve your group scheduling nightmares

TechCrunch

But we seem to be in a calendrical renaissance, with incumbents like Google and Outlook getting smarter and smarter and newcomers like Calendly growing significantly. Over the past decade, many startups have tried (and many have failed) to rethink the way we schedule our meetings and calls.

Parametrix Insurance raises $17.5 million to offer cloud downtime insurance

TechCrunch

Parametrix is not a carrier itself, but rather partners with incumbent insurance carriers to payout customers. Insurtech is picking up steam in a big way , but startup Parametrix thinks there is still plenty of room left to innovate. The company, which today announced the close of a $17.5

New challenger Ikigai combines digital banking and wealth management

TechCrunch

On banking competitors, Ikigai’s founders argue that existing incumbents and challengers both have “significant” failings.

Cultivating a Practice of Diversity, Equity, and Inclusion in Ecosystem Building Programs

Ecosystem Builder Hub

It is incumbent upon those of us working to build vibrant entrepreneurial ecosystems to put inclusion front and center, at the heart of everything we do.

End-to-end operators are the next generation of consumer business

TechCrunch

The key purpose of being end-to-end is to deliver an even better value proposition to consumers relative to incumbent alternatives. Incumbents in these industries are very large and entrenched, but they are legacy players, making them slow to adopt new technology. Roger Lee.

Australian fintech Zeller lands $50M AUD led by Spark Capital at a $400M AUD valuation

TechCrunch

Australia’s business banking landscape is dominated by a small group of incumbents, and is ripe for disruption through simpler, more transparent pricing, best-in-class technology and better customer service.”.

Convoy: The Future of Truck Freight

Y Combinator

In the last few years, incumbents have started to adopt technology to fix inefficiencies, but they’ve focused on tools to streamline individual tasks (e.g., Fragmented supply and demand is a problem for incumbents, but a great opportunity for a digital marketplace.

How I Invest

Both Sides of the Table

I love businesses that aim to massively reduce the costs of products or services in a way that makes a product or service vastly more accessibility and in which incumbents would have a hard time competing. I was speaking recently to the team at NuOrder , an LA-based company we’re an investor in about “realism in startups” — an impromptu talk I have given to any of our portfolio companies who ask.

Digital freight forwarder Forto raises another $50M in round led by Inven Capital

TechCrunch

“Forto has proven to be essential in a sector which is under increasing pressure amidst a global pandemic and is dominated by fragmented, non-digital incumbents,” added Michiel Kotting, partner at Northzone.

Getsafe, the European digital-first insurance startup, scores $30M Series B

TechCrunch

“We sell more policies to first-time insurance buyers in Germany than incumbents like Allianz, Axa, Zurich, etc,” he says. Getsafe , the digital-first insurance startup that initially launched with an app for home contents insurance, has closed $30 million in Series B funding.