The Incubation team is a new team within Launchpad and Venturing set up to build a new capability fundamental to the reinvention of bp and delivery of its purpose in reimagining energy. Incubation will hold specialist capabilities, centralised within bp, to test and grow new business ideas, based on new technology or disruptive business models. In success cases, it will rapidly turn these ideas into game-changing businesses for bp. In failure cases, it will ‘sunset’ these ideas with appropriate learning – and in a lean, agile fashion. This will not only minimise wasted expenditure but also maximise the number of ideas that can be validated.
Key accountabilities for the Incubation team include:
- Originate, nurture, grow, and launch autonomous start-up teams. 90% of start-up teams are expected to be sunset efficiently.
- Efficiently disprove business case hypothesis at scale to inform future investments.
- Launch autonomous start-ups with enough recurring revenue to make metric driven decisions.
- Upskill residents of incubation so that they bring the skills needed to accelerate execution, decision making, and innovation back into bp and the entities bp has invested in.
- Execute the incubation strategy tactically for teams.
- Organize start-up teams and run tailored workshops to steer the start-ups toward success. Identify and produce new workshops aimed at specific needs of the incubated teams, such as interfaces, business models, distribution strategies, go to market strategies, stakeholder management, customer journey, team culture, and resilience.
- Interface with incubated teams and stakeholders (both internal and external) to onboard new start-ups, progress product development and pivots in the team, develop efficient stakeholder interfaces, and drive regular status updates with executive sponsors.
- Drive program management both at a strategic level of selection of companies and a tactical level of tracking start-ups progress, financials, and metrics
- Drive origination including sourcing founders and ideas and forming start-ups teams
- Unblock start-ups from procurement and other resourcing perspectives facilitating scalable solutions that might extend across multiple start-ups.
The Incubation team is a new team within Launchpad and Venturing set up to build a new capability fundamental to the reinvention of bp and delivery of its purpose in reimagining energy.Key Capabilities:
This individual should have the expertise necessary to support founders to build digital companies, including coaching on generating hypotheses, stakeholder management, business models, go-to-market strategies, and selling both the product and vision. This individual should be capable of transitioning from working on tactical approaches to strategic vision with ease. This individual should have strong presentation skills to teach custom-built content to start-up founders.
This role will interface directly with start-up founders/CEOs and executive stakeholders both internal and external and therefore should be held by a senior, experienced professional capable of handling difficult situations and trusted to make the right calls for bp.
This individual should have a strong digital background such as experience from program management of digital projects; technical product management; or software engineering. Experience working at both large enterprises and in start-up environments is a plus.Key Interfaces:
Internal interfaces with bp digital teams, gas and low carbon energy teams, regions cities and solutions – all with ideas feeding into Incubation. External interfaces with incubators and accelerators, VCs, and start-ups.