3M, through it's New Ventures business, is studying global mega
trends to identify and invest in technologies and ideas that the company
can adapt to bolster innovation and drive growth.
“The world is changing so fast,” said Stephan Gabriel, president, 3M
New Ventures. “We need to look far into the future, anticipate customer
needs and move fast when we find the right opportunities.”
New Ventures identifies likely future fields of business or
technology that are new to 3M and invests in these external companies;
some are start-ups.
“We think outside the box,” Gabriel explained, “assessing major
trends and looking globally, across all industries, for innovative and
fast-growing small to mid-sized companies. We’re looking for fresh
ideas, exciting concepts and new ways of working with customers.”
Gabriel taps an extensive innovation network and experts to identify
and evaluate companies with enthusiastic, entrepreneurial management and
how they might connect to 3M’s strategic portfolio.
“It’s all about speed,” Gabriel said. “When we find the right people
and the right technologies, there are many ways for us to invest in
them. We might, for example, become a minority shareholder or a
strategic partner and always try to closely connect these companies with
our business unit organizations. If we don’t act quickly we lose the
opportunity.
“We have a global organization with top-notch technology platforms,
research facilities worldwide, an extensive sales network and many other
capabilities. For all these reasons, up-and-coming entrepreneurs are
excited to work with 3M,” he said.
New Ventures has identified six strategic focus areas based on
projections of major trends and what customers will need most in the
future, and the group is taking its cues from its findings in these
areas.
“We need to speed up and take windows of opportunities for
investments, but it’s not about just moving faster,” Gabriel said. “It’s
about anticipating a focused view of the future and working faster in a
structured and strategic way.”
Areas of strategic focus for New Ventures
- Architecture, Light and Living
- Safety and Security
- Mobility and Transportation
- Health
- Energy, Sustainability and Water
- Electronics, IT and Media
