The company is planning to commit $100,000 to support pilot technology technology solutions.
Diageo has created a new global innovation programme, Diageo Technology Ventures designed to solve existing business challenges and unlock new opportunities for growth by working with emerging technology companies and entrepreneurs, states a report in Business Standard.
Diageo will partner with companies across the globe to rapidly develop and pilot technology solutions in response to a series of focused business briefs. The company is planning to invest $100,000 fund to support each pilot project. Speaking to Business Standard, Syl Saller, Chief Marketing Officer, said,"Tech start-ups and entrepreneurs are truly defining disruptive innovation driven by an irrepressible appetite to experiment and a willingness to take risks. Diageo Technology Ventures allows us to access this world as we look to solve some of our biggest business challenges. This programme will also further build our internal ability to move with pace and provoke a genuine entrepreneurial mind-set in our pursuit of breakthrough innovation. It underlines our fundamental belief that through partnerships with forward-thinking start-ups and entrepreneurs we will deliver competitive advantage for our business."
The programme will launch with a brief which seeks out technologies and platforms that can be used to help consumers to drink responsibly. The brief will challenge applicants to tap into existing digital behaviors or utilize platforms already widely used by young adults above the legal purchase age. The second brief developed for launch will look for solutions to support retailers and distributors in countering retail theft. Diageo plans to issue a number of briefs during the first year of the programme and will fund multiple pilots per brief.