The Beanstalk Factory, the organisation with a mission to bring entrepreneurial thinking to large corporations, recently announced the addition of seven major new clients: Suncorp Group, Telstra, Brisbane City Council, The Queensland Government, Monash University, News Corp and Hoyts.
Founded in December 2015 by influential serial entrepreneurs Peter Bradd and Jack Delosa, The Beanstalk Factory will work with the employees in each organisation to provide training and coaching to help stimulate entrepreneurial thinking and innovative outcomes.
Mr Bradd, also a Founder of Scribblepics, Founding Director of Fishburners and Chairman of StartupAUS, said the rapid growth of The Beanstalk Factory highlights the huge appetite for innovation amongst some of the biggest companies in Australia.
“The shape of business is changing radically as a result of global disruption, and we are now seeing the traditional business model flipped on its head,” said Mr Bradd. “Big business is striving to behave more like agile, lean and innovative startups, and startups are increasingly open to partner and connect to traditional business in order to grow and scale. Creating a more systematic framework for innovation within large organisations is fundamental to business survival and growth.”
Best selling author and founder of The Entourage, Australia’s largest education institution for entrepreneurs, Jack Delosa said the needs and interests of the millennial generation is also creating a powerful shift in the shape of business and the nature of work.
“The next generation are drawn to organisations where they feel they can engage in meaningful work and can make a positive contribution to the world. This has not traditionally been on offer within large enterprises, and it requires a fresh mindset for many of our corporate leaders. Entrepreneurship is about enriching the lives of our customers in small or large ways and enabling the individuals that make up our teams to become the best version of themselves. When we shift towards an entrepreneurial culture, growth and innovation follows. That’s good for business, great for individuals, and great for our economy,” said Mr Delosa.
What exactly does The Bean Stalk Factory do?
A collaboration between two entrepreneurial thought leaders, The Beanstalk Factory isn’t about magic beans but rather a structured training program that helps big businesses re-imagine what they can achieve in the future.
“The Beanstalk Factory enables corporate entrepreneurs to be high performers. It does this by identifying and removing blockages inside an organisation, which are holding the corporate entrepreneurs back. It then coaches these corporate entrepreneurs in finding problems worth solving and getting their products to market,” Peter explained to Anthill.
“Besides strategy and capacity building, The Beanstalk Factory brings exceptional networks in the entrepreneurial ecosystem in Australia and internationally; and within the Australian, Federal, State and Local Governments. We also have a wide network of specialist providers to meet the needs and demands of corporate entrepreneurs.
On how they have managed to reel in such a diverse range of clients from government departments, universities, ASX 20 companies and medium sized high growth privately held businesses, Peter told us, “Some of our clients have a burning platform and they need to urgently find new revenue streams, as their existing ones become a thing of the past. Others are internally driven by their CEOs who want to achieve growth and take the opportunities that are available to them.”
“We get most of our clients through referral business. Our strategy is to keep delivering great outcomes that other capacity building organisations haven’t been able to enable previously and have those clients refer us on. We both do a lot of public speaking as well, which inspires and creates lots of opportunities for us to assist.