Menu
Coca-Cola finds innovation with start-ups

Coca-Cola finds innovation with start-ups

The odds of a 129-year-old mega corporation unearthing innovative ideas or technology in-house are virtually impossible

Tel Aviv has a lively tech start-up scene. Boehme enthusiastically lists Tel Aviv's winning traits: five per cent of the population has PhDs; one start-up for every 1,800 Israelis; world leader in patents per capita; and world leader in research and development spending. Best of all, it's under the radar.

"Tel Aviv won't have the Wall Street Journal covering you every day," Boehme says.

After stints as an incubator and accelerator, Coca-Cola settled on being a start-up mentor that works with venture capital firms, not competes with them. Coca-Cola brings Israeli start-ups to the United States for training and expansion. Tapping its awesome marketing and branding expertise, Coca-Cola shows start-ups how to tell their stories to investors and customers and create buzz. Coca-Cola introduces start-ups to its partners in the supply chain, including giant retailer Walmart.

Even Coca-Cola's tech partners, such as Amazon, Google, Cisco and Microsoft, will throw in free technology for start-ups.

"We're a great launch customer," Boehme says. "We can try things anywhere in the world, see if it works, take it somewhere and scale it."

Today, Coca-Cola is looking at start-ups in five areas: customer engagement, consumer retail, supply chain, marketing, and health and wellness.

CIOs must refocus to innovate

In a way, Boehme's start-up mentorship program itself is an example of innovation. Coca-Cola wanted to be first in its market with unique technology, and Boehme struck upon a wholly new way (and place) to make this happen. He didn't follow an existing model, rather he made it up and pivoted as the program took shape.

The idea of being first may seem a bit startling to traditionally risk-adverse CIOs, yet it's something CIOs must get over to become innovators.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesFacebookCoca-Cola

Events

EDGE 2023

EDGE is the leading technology conference for business leaders in Australia and New Zealand, built on the foundations of collaboration, education and advancement.

WIICTA 2023

ARN has celebrated gender diversity and recognised female excellence across the Australian tech channel since first launching WIICTA in 2012, acknowledging the achievements of a talented group of female front runners who have become influential figures across the local industry.

ARN Innovation Awards 2023

Innovation Awards is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in Australia.

Show Comments