Conference uncovers need for business model evolution

8th June 2015

Barney Scott

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Between 2012 and 2014, over 70 companies globally valued at more than $1bn were start-ups with unique, transformative business models. During the same period, most business model innovators have managed to produce consistently profitable returns with average revenue gain between 100 and 500%. The keys to these success stories have been connectivity and convergence with 50% of start-ups launched on mobile platforms.

This rapidly evolving business landscape emerged from Frost & Sullivan's Growth, Innovation and Leadership (GIL) 2015: Europe, London, where 250 industry leaders met to learn and share strategies for innovation. "To succeed and prosper in today's challenging market environment," said Dorman Followwill, Senior Partner, Frost & Sullivan, "companies must focus on business model innovation as this is the way to significantly higher returns and to consolidate growth."

Nina Bjornstad, Country Manager at Google for Work UK&I, and Professor Mark Caulfield, Chief Scientist of the 100,000 Whole Human Genome Sequencing Project led by Genomics England, enthused the audience with their ground-breaking keynote addresses showcasing global leadership in connectivity and convergence. The global trends in connectivity and convergence - presented by Senior Partner Sarwant Singh - demonstrated that increased connectivity is influencing businesses to devise strategies and uncover fresh revenue opportunities. The analysis of the top 50 multi-billion dollar technologies inspired the audience with an interesting workshop managed by Practice Director Ankit Shukla.

The conference concluded with the "Legends of London". Some of the most innovative leaders in Britain's capital city stimulated the debate about the future for the UK in 2020. A reference to immigration was almost inevitable following the Bank of England Governor Mark Carney's comments. GIL will return to London in May, next year. In the meantime, Frost & Sullivan's GIL will continue its journey with stops in Cape Town, Africa on 15^th August, Monaco on 22^nd October and Frankfurt on 17^th November.