S10E4 - Why would Xylem grow 10 Wonder Kids from 5 to 50 Clients?
with ποΈ xStorto - Lead Innovation Analyst at Xylem Innovation LabsΒ
π§ Xylem is one of the largest water and wastewater technology companies globally and follows the simple motto: "Let's solve water"
What we covered:
π€ How the Xylem Innovation Labs explore partnerships with early-stage technology providers to enhance offerings and improve portfolio stacksΒ
π What the main tracks within Xylem Innovation Lab entail, from the commercial accelerator focusing on client growth to the early-stage incubation program and open innovation ecosystem targeting specific water-related issues.Β
β½ How Max likens his role in scouting potential technology providers to a talent scout in sports, seeking the most promising innovations that align with Xylem's capabilities and customer challenges.Β
π What main challenges Xylem's customers face, such as decarbonizing the water sector, industrial treatment solutions, decentralized treatment, and addressing contaminants of emerging concern like PFAS and microplastics.Β
π Why Xylem is looking into areas like digital workforce solutions and flooding issues, aiming to find innovative ways to address these significant concerns in the water management industry.Β
ποΈ How Max Storto's dynamic and multifaceted role at Xylem brings both planned goals and unexpected chaos into his daily life.Β
π³οΈ Why political work with the Iowa Democratic Party led Max to engage in grassroots conversations, touching on critical water issues in both local and federal contexts.Β
π° How the state of water networks in the U.S., including boiling water notices, reflects challenges in infrastructure investment, public awareness, and income inequality.Β
π How Xylem Innovation Labs aggregates customer-facing team information, interprets data, and involves business units to prioritize decisions, fostering a united approach.Β
π What makes Xylem's accelerator program unique: sourcing from grants, accelerators, internal recommendations, VCs, and conferences and inviting companies to apply, ensuring a focused approach to innovation.Β
π€ Why Xylem's relationship-building with startups is key: no equity taken, a mutual NDA, building trust, and aiming for long-term commercial agreements to foster a truly collaborative partnership.Β
π What distinguishes Xylem's process of carefully select from 3 to 400 invitations, leading to 40-50 applications for a handpicked 10-count accelerator cohort, ensuring alignment with innovation priorities.Β
π§ How Max's role as a market analyst at Xylem intertwines with engineering teams, aiding in financial analysis and business case development for revenue projections.Β
π What the Xylem Innovation Labs' role in global R&D is, including their part of the R&D package, and how they complement the company's existing product development efforts.Β
π± How innovation with impact at Xylem is characterized by a focus on sustainability metrics and diversity and their efforts in alleviating water challenges and reducing carbon footprints.Β
π Oxford Collar, Decentralized Work Environment, fostering long-term growth, mutual trust and partnership, commercialization over investment, selling solutions vs taking equity... and much more!Β
π₯ ... and of course, we concluded with the π§ππ₯ππ πππ§π π¦πͺππ¨π©ππ€π£π¨ π₯
π Come say hi to Max on LinkedIn
π Check Xylem Innovation Website's website
β‘οΈ Check out the entire article on Xylem's weirdest move
β‘οΈ Reach out to me: antoine@dww.show
Suggested episodes:
π My interview with Sivan Zamir
π My conversation with Austin Alexander
π My short catch up with Patrick Decker
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