Royal Bank of Canada is teaming up with Highline BETA to co-create startups. No financial terms were disclosed. Toronto-based Highline BETA is a startup co-creation and new venture development firm.
Today, we are very excited to announce our collaboration with Royal Bank of Canada (RBC), Canada’s largest bank and one of the largest banks in the world. RBC is committed to innovating to deliver exceptional client experiences, and now they’ll be taking the next step with us to co-create new ventures.
At Highline BETA, we believe that the path for large organizations to continue winning in the future is building a repeatable, scalable model for new venture development. This means empowering intrapreneurs to think and work differently, explore and expand into opportunities beyond core business and product offerings and proactively go after the growth engines of tomorrow.
Highline BETA and RBC will work together on new venture development to solve complex consumer and business problems.
Our joint goal is to leverage the immense assets and capabilities of RBC combined with a startup-focused methodology and mentality to build and launch new, scalable ventures.
“RBC’s vision of how it wants to innovate is perfectly aligned with our vision around the power of new venture development,” said Marcus Daniels, Founding Partner at Highline BETA. “RBC is leading the way in how big companies can expand their value proposition to customers, innovate on their business model and find new opportunities to grow.”
Along with supporting RBC’s internal efforts towards new venture development, Highline BETA will also connect the bank into additional talent and early stage startups that can benefit from RBC’s assets and help accelerate RBC’s new ventures. Marcus noted, “Startups and big companies don’t speak the same language, and it’s genuinely hard for either of them to work together. A core part of Highline BETA’s value is bridging that gap and unlocking the potential on both sides to create win-win scenarios that work.”
“RBC is working with Highline BETA to take a startup-centric approach to tackle some of the most interesting opportunities to serve clients,” said Mike Dobbins, Chief Strategy and Corporate Development Officer at RBC. By embracing the co-creation model championed by Highline BETA, we believe RBC can blend our own intrapreneurs who have a deep understanding of consumer and industry challenges with entrepreneurs who bring fresh ideas and perspectives to accelerate our innovation and growth.”
About Highline BETA:
Highline BETA partners with enterprises to reimagine the future of their industries. We leverage startup operating models and investor experience to help companies launch market-leading ventures.