We have played active and ongoing roles in innovation processes and business building of innovative concepts. It is often the second and third phase of innovation projects that determine their success. There are plenty of ideas, but picking the right ones, and getting them to work is the real challenge:
Issue
The client, an international bank, required strategic support for a newly established clearing house. The venture was set up by the bank to benefit from major changes in the regulatory environment for the European exchange industry, following the implementation of the Market in Financial Instruments Directive (MiFID) in 2007. Spring Associates was asked to explore the strategic value creation opportunities for the clearing house.
Approach / Recommendations / Actions
The Spring Associates team created a business plan, including the valuation of various growth opportunities. Following this phase, the team played an active role in pursuing the most attractive one of these opportunities. The Spring Associates team was involved in business development, contract negotiations with exchanges and clients, identifying industry opportunities, strategy and deal support.
Results
Since its inception, two-and-a-half years ago, the company has grown to become the largest CCP for on-exchange equities in Europe. The client has created significant enterprise value.
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Innovation program management for a science publisher