Agile Innovation Update – August 2015

Each month we bring you the FreshMinds Agile Innovation Update. This month we’re looking at the future of Google Glass, Amazon’s new platform to help start-ups bring products to market, growth in mobile banking and investment in delivery start-ups. Plus, we’re also blowing our own trumpet a bit as we discuss our CEO’s involvement in the Prime Minister’s latest trade delegation to south-east Asia.

FreshMinds promotes British industry on trade delegation with the Prime Minister

Last week our CEO Caroline Plumb travelled to south-east Asia with David Cameron as part of a UK Trade and Investment (UKTI) trade delegation. The delegation visited Indonesia, Malaysia, Vietnam and Singapore, seeking to promote UK trade and investment in the region which is forecast to grow at 5% in the next year alone. Commenting on the delegation, the Prime Minster said: “British companies like FreshMinds are flying the flag and unlocking the economic potential of the fast growing economies of South East Asia. I’m delighted that they have joined me on my first trade mission of this government and I hope that we can work together to create jobs and growth for the UK.” To find out more, check out our blog post on the topic.

Is Google Glass back?

According to the Wall Street Journal, Google Glass is making a comeback – albeit it a very quiet one. The wearable device, which launched to consumers in 2014, was withdrawn at the start of this year, amidst privacy concerns. True to their word, Google is said to be bringing Glass back but interestingly, the company looks to have pivoted (at least whilst it addresses consumer concerns with the devices): targeting businesses, rather than consumers with its new model. Whilst a consumer version may still be brought to market, plans for this are “at least a year away” according to the Wall Street Journal.

Amazon to help start-ups bring products to market

Last week, Amazon announced the arrival of Launchpad, a new platform to help start-ups bring their innovations to market. By drawing on Amazon’s vast user base and fulfilment network, Launchpad will help start-ups launch, market and distribute their products to Amazon customers. Amazon is partnering with a number of venture capital firms, start-up accelerators and crowd-funding platforms to source start-ups for the platform which, in addition to supporting the start-up community, will enable Amazon to supply its customers with a new range of highly innovative products.

Mobile banking set to double over the next 4 years

New research from KPMG suggests that mobile banking is due to see massive growth in the next 4 years. The number of mobile banking users globally is forecast to double to 1.8 billion – that’s 25% of the world’s population! Interestingly, adoption rates of mobile banking are highest in developing countries – reaching 60% – 70% in China and India indicating that mobile has the potential to become the preferred channel in these areas and to drive sector growth.

Delivery start-up Deliveroo raises $70m in funding

London meal delivery start-up, Deliveroo, has raised $70m in a Series C funding round led by Greenoaks Capital and Index Ventures. The start-up, which delivers food from local restaurants direct to your door (or your desk), has already expanded to France, Germany and Ireland and plans to use the additional funding to continue its expansion into Europe as well as the Middle East and Asia. FlyPay, a firm which also seeks to improve the dining experience albeit in a different way – by facilitating mobile payment – also raised $10.7m in funding earlier in the year.