menu Home chevron_right

“We are always on the lookout for people that can think like a startup and have experience building companies and products from scratch. So it’s a good kind of middle ground of both new and existing.”

In this episode, we are joined by the seasoned entrepreneur and innovator Bob Petrie – Director of Innovation at Citi Ventures. With more than 20 years of experience in building new products, launching new businesses, and transforming companies, he is now responsible for running the innovation program at and incubating new businesses within Citi Ventures.

In his role as Director of Innovation, Bob gives us an inside look at Citi’s innovation ecosystem, introduces us to Citi Ventures, and elaborates on the symbiotic interplay of the ventures investing and the incubation arm.

If you want to learn more about how governance affects the pace of innovation, which successful project is hidden behind the alias “Proxymity” or what – according to Bob – significantly differentiates innovation in a startup from innovation at a large company, you’ve come to the right place!

The episode at a glance:

  • Bob, please introduce yourself (00:00:46)
  • The 3 sentence starters (00:02:04)
  • Innovation in a highly-regulated environment
    • After 18 years in the start-up world – a world without many processes, guard rails, governance, Bob is now responsible for the North American region of the D10X innovation program at Citi – a highly-regulated environment. Why this change? (00:05:40)
    • What does it mean to be responsible for innovation in such an environment? (00:07:31)
    • How is innovation at Citi organized in general, i.e., what programs exist? (00:09:22)
    • How are all these programs governed? Is there someone who oversees everything, or does Citi rather act according to the motto “what works in the market wins the race”?  (00:11:07)
    • Governance and innovation – two opposing concepts? (00:12:17)
  • Citi Ventures:
    • How does Citi Ventures support the business in general, and why does Citi need an internal incubator at all? (00:13:34)
    • How are new employees recruited, and what are the mindsets & capabilities you are looking for? (00:16:25)
    • A brief insight into the journey of Citi Ventures: About its development, growth hacks and building blocks  (00:17:40)
    • What were some of the pitfalls you encountered?  (00:20:50)
    • How are things shrank down to an MVP/ MLP, which is ready to start with in-market testing? (00:22:57)
    • How do you define success at Citi Ventures? And what has been the success so far? (00:26:50)
    • Can you share one or two real-life venture examples from the incubator? (00:30:08)
  • Looking ahead: What’s next for the Citi Ventures? (00:32:23)
  • Bob’s “famous” last words to the startup world (00:33:57)
  • Looking back: Bob’s Innovation Rockstar moment (00:36:04)

***LISTEN – LIKE – SHARE***
You like our show? Then leave us a rating or a review on Spotify or Apple Podcast and share it with colleagues and friends and whomever!

You even have an exciting story yourself that you would like to share with our community, or know someone who would fit well on our virtual Innovation Rockstar stage? Then drop us a line at info@innovation-rockstars.show


English


Grinding Corporate Innovation At Citi

Bob Petrie Director of Innovation
Loading player
close

“We are always on the lookout for people that can think like a startup and have experience building companies and products from scratch. So it’s a good kind of middle ground of both new and existing.” In this episode, we are joined by the seasoned entrepreneur and innovator Bob Petrie […]

People First: Innovating The Individual

Ricardo Brito Innovation Lead
Loading player
close

“You can’t innovate a product if you don’t innovate the people behind.” In this episode, we are pleased to welcome Ricardo Brito, Innovation Lead at Doodle. Originally, the Portuguese native wanted to be a horror film director, but as what often happens, things turned out differently. Today, as Innovation Lead […]

Opportunities For AI In The Insurance Industry

Dr. Sebastian Kaiser Head of Machine Learning
Loading player
close

“AI is an exciting thing, but it has to be used at the right time and moment. I’ve seen people produce true magic with AI, but it boils down to that AI should be considered an enabler to something bigger.” In this episode, we welcome Dr. Sebastian Kaiser, Head of […]

Collaboration Is The New Competition

Michelle Gansle & Dr. Rupert Hofmann Vice President Global Strategic Insights & Initiator of the Foresight Academy
Loading player
close

“The genius of this platform is that when it comes to foresight, foresight and insights are universal, but what we choose to do with that information is going to look different whether I’m SAP, Audi or McDonald’s.” In this episode, we welcome two exciting guests: Michelle Gansle, Vice President Global […]

Innovation – A Global Tournament

Maria Mileder Global Head of Innovation
Loading player
close

“If 20 random volunteers can pull off a tournament that now includes 1000s of employees with next to no budget whatsoever, then, you know, everyone else can do their small bit.” In this episode, we are pleased to welcome Maria Mileder, Global Head of Innovation at PayPal. As an expert […]

Banks in Time of Digital Change

Christian Schmitz Senior Consultant Innovation & Digitization
Loading player
close

“As soon as CBDCs are available. As soon as there’s a digital Euro. I’ll check it out. That’s the task of an innovation manager.” In this episode, it’s all about banking, cryptocurrencies, and the big question of how to explain modern banking to grandma. We welcome Christian Schmitz from DZ […]

Moore’s Law and Corporate Foresight

John Miranda Director, Strategy Office & Data Center & AI Group
Loading player
close

“What does Foresight have in common with astrophotography? In both, you try to extract the maximum of signals from the noise out there in order to get a clear picture in the end.” In this episode, we exchange ideas with John Miranda, Director of Strategy, Office Data Center, and the […]

#hungryforinnovation – What’s hot in Logistics?

Erik Wirsing Vice President Global Innovation
Loading player
close

“Innovation is a necessary part of our DNA. It’s all about openness and transparency, about spotting trends and finding out if there’s something in it for us or not. If not, hands-off. But if yes, try to convince your company to adopt and scale.” In this episode, we exchange ideas […]