But how to promote innovation in a large organization? Silicon Valley has explored many methods. Incubators (taking YCombinator as an example) and accelerators have become very popular. Financial institutions have begun to learn from them for large-scale innovation, and DBS is at the forefront. This paper focuses on sharing two innovation incubation projects of DBS Bank, including:
DBS (Development Bank of Singapore), formerly known as Development Bank of Singapore, was established in 1968 and is the largest commercial bank in Singapore. As the leading financial services group in Asia, it has more than 280 branches covering 18 markets.
Headquartered in Singapore, DBS Bank is also a listed company in Singapore, and its business revolves around three growth axes, namely Greater China, Southeast Asia and South Asia. In 20 12, DBS Bank was rated as "the best bank in Asia" by Banker magazine, a subsidiary of Financial Times, and "the best bank in Asia-Pacific region" by Global Finance in 20 14. Encouraged and promoted by the innovative spirit of all staff, DBS Group was awarded the "Best Digital Bank in the World" by Euromoney, an authoritative magazine in international financial circles, on July 20 16. In addition, since 2009, DBS Bank has been rated as "the safest bank in Asia" in the global financial rankings for seven consecutive years.
DBS Bank released its 20 16 annual report-"Rebuilding the Bank's Image and Leading the Global Digital Bank". It is mentioned that in order to inject entrepreneurial spirit into enterprises, a series of reforms have been carried out from the following dimensions to build entrepreneurial culture and thinking.
Industry Partners: DBS Bank has more than 50 industry partners, including universities, governments and think tanks, to incite first-class research and exploration.
Highlights of DBS: DBS actively participates in entrepreneurial community activities. For example, Hotspot is a pre-accelerator project run by an Asian bank.
Exclusive space: Open the concept of office, build social networks and immersive learning, encourage collaboration and create exclusive space. DBS Asia X is the latest space of DBS, where employees create extraordinary customer experiences and establish partnerships with the financial technology ecosystem.
Encourage internal entrepreneurship: DBS has conducted more than 1000 experiments since 20 15. Encourage employees, as internal entrepreneurs, to establish start-ups while doing their daily work under the guidance and financial support of banks.
Widespread use of cloud platform: The first Singapore bank to adopt Office 365, which is an office software based on cloud computing, allowing employees to cooperate anywhere, hold remote meetings and build a closer community online.
Learn from experience and immerse yourself in it: DBS employees begin to accept experiments and innovations through extensive digital courses, hackathons, incubators/accelerators and financial technology partnerships. They also deployed a digital leader to build digital quotients among employees.
Enhance digital skills: They enhance their digital skills by hiring user experience designers, programmers, software engineers and data analysts.
Every year, DBS Bank announces the key areas that are seeking innovative solutions and updates them regularly, making joint efforts to improve and perfect banking processes.
If the startup team has a suitable solution, it can apply online. After that, DBS Bank will invite the short-listed applicants to receive the initial and valuable feedback from the business department of DBS Bank in a one-on-one meeting.
1. Main steps of online application
2. Preliminary screening
DBS related business personnel communicate with the entrepreneurial team remotely and provide feedback.
Input accelerator
Start accelerating for about 3 months.
After the global selection of entrepreneurial teams, there will be many benefits, including:
In the picture below, you can appreciate the good joint office space created by DBS in Wan Chai, Hong Kong:
201Monday, April 9, 2008, the Hong Kong Financial Technology Accelerator of DBS Bank was launched for the second time, lasting for 12 weeks, aiming at finding innovative solutions for the pre-defined opportunities of the bank. A total of six entrepreneurial teams were selected.
As mentioned above, HotSpot is a pre-accelerator, which aims to cultivate entrepreneurial projects in Singapore through experiments, guidance and training. The 2+4-month high-intensity project aims to help entrepreneurs turn their ideas into actions. The project was tried twice on 20 15 and 20 16, with the following characteristics:
Each hot link will be divided into three stages: application, training camp and pre-acceleration.
20 16 graduated with 9 products, covering different types, such as e-commerce, efficiency, real estate, finance and advertising. The video promotion link of 20 16 is here.
There are also some small mechanisms to stimulate creativity in DBS, which play a very important role in innovation incubation, such as:
Singapore Innovation Center DBS Asia X (DAX for short) opened in the middle of October 20 1 165438 10, covering an area of 16000 square feet, providing venues and equipment support for innovative projects of DBS employees, start-ups and social enterprises.
In addition, it sponsors customer journey seminars, hackathons and services for employees and startups in HotSpot pre-accelerator. DAX supports up to 65,438+000 people to work together, as well as an auditorium, a conservatory, a coffee shop and a small team studio. The selected furniture is of medium size, which is convenient for splitting, merging and moving, and is convenient for teamwork.
This paper introduces DAX in detail, which is of reference significance for the decoration of incubator office space.
In order to stimulate the innovative spirit of all employees, a WeChat platform named "Chuangxingren" was built inside DBS Bank. Employees of all departments (front, middle and back offices) can submit good ideas at any time, and the management of the bank participates in and supports the implementation of all kinds of good ideas.
These innovative ideas come from employees in all lines, including how to improve work efficiency in daily work, how to satisfy customers, how to make colleagues' work easier and so on. In this way, it is easier for all employees to change their thinking in the direction of innovation and participate in innovation more actively.
The basic information of this paper is summarized as follows: