AGP Support: Innovation Management, Venture Building, Digital Transformation
Industry: Automotive & Mobility, Chemicals
Industry: Automotive & Mobility, Chemicals
Venture Development and Management
Client
A global top-three automotive paint supplier seeking to expand its digital services portfolio.
Situation
The client needed to identify new digital solutions to boost legacy product sales and explore new business opportunities. They lacked expertise in managing partnerships to develop and scale industrial digital solutions.
Approach
Asia Growth Partners collaborated with the client’s regional innovation head to implement a venture development process.
- Conduct interviews with internal stakeholders, customers, and partners to gather diverse perspectives on market opportunities.
- Generate and prioritize new venture ideas based on desirability, feasibility, and viability assessments.
- Develop prototypes and continuously iterate on ideas based on feedback from stakeholders and target customers.
- Identify IT and OT capability gaps to determine necessary technological enhancements and partnerships.
- Establish a structured approach for ongoing evaluation of venture performance and alignment with strategic goals.
Results
- Generated over 33 venture ideas, with two concepts validated and moved to MVP development.
- Delivered a clear product development strategy for the ventures, allowing the client to manage digital innovation more effectively.
- Established a repeatable venture development process, enabling the client to continuously generate new business opportunities while integrating partner capabilities.
