“Disruptive innovations are creating new industries and business models, and destroying old ones.” Michael Rendell, Head of Human Capital Consulting, PwC
Earlier this year PwC partnered with IncuBus Ventures to create the pilot ‘Future of Work’. A 3-month growth programme focused on a cohort of 6 early-stage companies looking to transform and improve the workplace through Artificial Intelligence, Cyber Security and IoT/Smart Office solutions.
Over the 3 months, participating startups received hands on support, resources and access to workspace in PwC’s Union Street office. Each week the startups had over 8 hours of mentoring and workshop sessions focusing on the fundamentals of business and accelerating their development. By the close of the programme the teams had engaged with over 65 mentors, including 18 startup founders and representatives of 20 blue chip companies including AXA, BT, Investec, Lloyds, O2 Telefonica and Lenovo.
PwC also assigned two employees to each startup, to act as advisers and mentors and as champions within the firm. Through this support, PwC was able to provide the startups validation of the business models.
Towards the end of the programme, PwC hosted an investor lunch, during which, the cohort had the opportunity to pitch to a closed room of accredited investors representing over a $1bn of funding. As a result, a number of the startups are now further along with their fundraising efforts. Some of their achievements during the programme follow.
Autoemo achieved their first corporate pilot of 100 devices, filed their UK patent and were accepted onto the IBM Global Entrepreneur programme and given $120k in credit to develop it’s offering on the IBM Bluemix platform.
Alfred grew their user base from 1500 to 6000, created all investment collateral and began their patent application. The team grew by a further 3 people and were named in the Real Business Everline Future 50. They were also accepted onto the Seamless Consortium accelerator, which they joined straight after the Future of Work programme, receiving $20,000 in seed investment.
Solfyre achieved a pilot with Lloyds Bank and has opened dialogue with another two potential Financial Services clients.
Intruder engaged their largest client, growing their monthly run rate from £750 to £2500. They have also recently been short-listed by Tech UK for UK’s Most Innovative Small Cyber Security Company.
Ingress One reached 10,000 registered users and initiated dialogue with PwC as a potential client for their building entry system.
Sharewell created a new B2B sales model that led to them winning their first paying client.
This video shot at our 'Passing Out Parade' takes a further look at what we do and our startups share what they got out of it.
Thanks to Adam Simcox for the fantastic video. Incubator Films work with startups to produce high quality, innovative films to help introduce them to the world. Incubator Films was founded by independent filmmaker Adam Simcox, after he produced films for the PayPal and Barclays accelerator programs last year.
Make sure to sign up to our newsletter for the latest updates on the teams as they look to continue their growth. If you'd like to get involved in our next Future of Work programme get in touch with us.