Breakers to Makers Panel 2: Building Bridges
Bloomberg's Caroline Hyde speaks to Martin Mignot (Index Ventures), James Allgrove (Stripe), Daniel Benamran (BlaBlaCar) and Alex Stephany (JustPark) about shifting relationships between the Sharing Economy & the corporate world. Highlights: 02:41 - Tell me about the different partnerships you have struck? 03:48 - Alex Stephany on how partnerships benefit JustPark in two different ways 04:38 - Daniel Benamran on how partnerships are crucial to acquiring new members. “We only offer a great service by having enough passengers and drivers at the same time, and who have the same need to travel to the same destination.” 05:34 - “The second reason [to form a partnership] is to create more trust and create a more reliable service.” Daniel Benamran talks about BlaBlaCar’s partnership with AXA 07:45 - James Allgrove on Stripe’s strategic partnership with Visa and it’s role in achieving international scale 10:36 - Martin Mignot on Index’s Venture Development Team which enable corporate relationships in a centralised, scalable and sharable way 12:42 - “There is a huge asymmetry of information between corporates and start-ups and Index is the interface which facilitates relationships between the two.” Martin Mignot on how to encourage partnerships between B2B service providers and corporate clients. 13:43 - Alex Stephany on acknowledging that corporates may have different strategic goals 16:32 - “We knew that there was an issue in terms of perception in certain countries. In reality it’s well defined from insurance point of view, but your business is about perception not reality.” Daniel Benamran on why BlaBlaCar began the search for a global insurance partner. 19:11 - “[What they’re doing] is taking corporates by the hand and bridging those two worlds.” Martin Mignot on The Family Incubator which educates both early-stage start-ups as well as corporates who want to partner with start-ups. 21:49 - Is there a strategic moment to form a partnership? 22:10 - James Allgrove on Stripe’s partnership with Alipay. 23:08 - “That was our way of helping our users go international quicker.” James Allgrove on how integration with Alipay allowed their users to reach 500 million Chinese customers. 02:30 - Audience question 1 - are there any partnerships you would advise against? 32:52 - Alex Stephany talks about US companies are more open to working with start-ups than those in the UK. “20% of the S&P 500 is technology; we have 1 FTSE 100 tech company.” 33:55 - Audience question 2: At an early stage, is the objective of a start-up to remain unnoticed by corporates or is it to go out there and disrupt? 37:01 - “With BlaBlaCar, there are people travelling who wouldn’t have been otherwise.” Martin Mignot on how the Sharing Economy is creating new value rather than killing off traditional models 39:12 - “I find the whole culture of disruption troublesome. It’s not how entrepreneurs think at all. No one sits down to set up a business thinking, ‘we’re going to kill that business’. You start looking at a problem, looking at an experience that is broken and thinking, ‘how can we fix that?’.