Standard Chartered Ventures is bucking the conventions of innovation

THE tale of corporates going down the “innovation” path often falls into two tracks: setting up a corporate innovation unit or a corporate venture fund. Standard Chartered (SC) Ventures is marrying both for Standard Chartered Bank.

While still a business unit of the bank, SCV operates as both part of the bank with its investments into startups, and outside the bank with the building of new corporate ventures. SC Ventures also runs intrapreneur programmes which allow Standard Chartered employees to pitch ideas, which could get investments, to get their ideas implemented. The innovation, investment and ventures arm also runs the programme for partners of the bank.

The formation of SC Ventures in this configuration is the culmination of learnings from previous experiences, according to Alex Manson, head of SC Ventures.