Empowering Corporate Leaders Through Startup Collaboration at Station F

Industry giants have a lot to learn from startups. But isn't it also true that startups stand to benefit from the insights of seasoned leaders at these big firms? At HEC Paris Executive Education, we believe in this mutual learning process that reflects our educational approach, which is rooted in the motto 'Learning By Doing. The 'Learning' aspect is powered by our HEC Paris faculty, who provide actionable insights and concepts. The 'By Doing' dimension manifests in various practical formats. For instance, with Schneider Electric and Lex Mundi, we've brought this to life through workshops like 'Challenge My Strategy' and 'Assessing the AI Value Proposition' at Station F, the world's largest startup campus.

The aim of this fresh educational approach is to structure the executives ability to evaluate an innovation, leveraging both feedback from doers and innovators and solid theoretical foundations from HEC Paris faculty. This cutting-edge concept has already captured the interest of several major corporations keen on enriching the tailored programs we co-create with them. 

More than just a visit, an immersive experience

Immersion at Station F stands out as one of the most formative adventures we offer. Beyond soaking up the dynamic atmosphere of this startup campus, participants in HEC Paris Executive Education custom programs engage in in-depth inquiry and assessment of three startups incubated under HEC Paris programs. During this process, each entrepreneur showcases their solution and outlines the challenges they face to participants. Divided into three groups, these executives then dive into meaningful discussions about the entrepreneurs' obstacles, market dynamics, and how the startup's solution aligns with their company’s specific needs.

Schneider Electric: ‘Challenge My Strategy’

The "Challenge My Strategy" practical experience served as the starting point for this initiative, designed by Laurence Lehmann-Ortega, a strategy professor at HEC Paris and academic director of the custom program "Leading Next Frontier: Level 2," co-designed with Schneider Electric and tailored to their Vice Presidents needs. Following their visit to Station F, Schneider Electric's participants applied insights gained from the online module "Reinvent Your Business Model with the Odyssey 3.14 Approach." This enabled them to mentor three startups handpicked by Schneider Electric based on the HEC Paris Innovation & Entrepreneurship Institute’s insights:

• Exnaton: energy billing through cutting-edge information technologies and AI.
• Ayolab: boosts its clients' Amazon sales by 20% with data that Amazon doesn't provide.

• Allobrain: delivers conversational AI solutions to help brands optimize their customer service.

   

After engaging in strategic discussions with the entrepreneurs, the VPs assessed the innovation and business models in real-world scenarios to determine the relevance of the startups' solutions for Schneider Electric, even considering potential collaborations. According to Laurence Lehmann-Ortega, the benefits are twofold: 

“Startups had the opportunity to be challenged by individuals with extensive experience in the energy sector and access to a substantial network. Their fresh perspective on these startups and their business models allowed them to pose insightful questions.”

 For the VPs, this exercise encouraged them to step back and think like startup founders.  

"I am confident this experience highlighted their lack of agility in day-to-day operations, prompting them to view their sector through a new lens, to explore, and to ask fresh questions that can translate into their roles.”  - Laurence Lehmann-Ortega 

Lex Mundi : Assessing the Value Proposition of Artificial Intelligence  

HEC Paris co-developed a program with Lex Mundi, addressed to the managing partners and firm leaders of the member law firms throughout the world.  The program emphasized cultivating innovative strategic thinking, resilience, and adaptability. These competencies are key in a traditionally established sector where innovation often struggles to gain traction. Yet, the statistics are telling:  

45.2% of jobs in the legal sector could potentially be impacted by generative AI, the highest across industries. - Harvard Business Review

Before the session at Station F, David Restrepo Amariles, the Academic Director of the program and Associate Professor of Artificial Intelligence and Legal Analytics at HEC Paris, highlighted two pivotal trends. The first is the ongoing transformation of the legal industry from a model predominantly reliant on human resources to one increasingly driven by capital investments, particularly due to the need to invest in AI technologies. The second trend focuses on innovation, with law firms being increasingly expected to provide new and more comprehensive services to their clients and reimagine their business models beyond the traditional billable-hour system. To design strategies aligned with these trends, participants were placed in the role of innovation leaders and tasked with exploring how startups drive innovation. They also analyzed other potential pathways to innovation, such as partnerships with incubators and initiatives in intrapreneurship.

Once the framework was set, participants were ready to explore firsthand the co-creation of value between law firms and startups, using AI as a catalyst for transforming business models. Facing an audience of lawyers, three innovative startups operating in the legal sector showcased their solutions. Each of them was selected from the 500+ startups supported yearly by the HEC Paris Innovation & Entrepreneurship Institute:

• Suzan.ai: offers an AI-powered cockpit for AI projects, ensuring asset security, fostering partner confidence, and unleashing innovation.
• Justice.cool: the pioneering platform dedicated to the streamlined management of mass or serial disputes for all justice system stakeholders.
• Jimini.ai: an AI assistant that helps lawyers and attorneys in research, analysis, and drafting legal documents with unparalleled efficiency.

In their role as mentors, the executives engaged in genuine conversations with the startup founders, delving into fundamental business issues and addressing the founders' core concerns. Each group then provided documented feedback to evaluate the value proposition of each startup, effectively answering the critical question: “Is my solution relevant for a law firm and how can it be integrated?”

“Participants, who are decision-makers in their organizations, found significant value in stepping into the role of innovation leaders. 

This approach helped them assess how these startups could enhance their services while balancing opportunities for value creation with potential risks of value destruction.

 For the startups, the session provided unfiltered feedback on their market positioning and strategies for collaboration. Some startups even identified the need for a two-tiered strategy: delivering immediate benefits while developing longer-term solutions to address deeper inefficiencies and disrupt traditional legal practices.” - David Restrepo Amariles, Associate Professor, HEC Paris 

More Than Just a School: A Vibrant Ecosystem

Such a synergy, conceived by our professors, is made possible through the powerful entrepreneurial ecosystem of HEC Paris. This ecosystem originates from the HEC Paris Innovation & Entrepreneurship Institute, which offers over 30 support programs to help entrepreneurs create, launch, scale and build their solution. Large companies are not left behind. The Institute's Corporate Acceleration programs, such as TotalEnergies On and L’Oréal Beauty Tech Atelier, are specifically tailored for companies looking to collaborate with startups and to foster their commitment to open innovation. 

More Than Just an Outcome: A Unique Experience

The meeting of minds between executives and startups at Station F is a prime example of a win-win collaboration. Through use cases tailored to their fields, application of program concepts, and immersion in the world of startups and innovation, this interaction benefits both parties. Entrepreneurs get the chance to test their solutions with seasoned executives while participants are immersed in the startup ecosystem, sparking new ideas for the future. This dynamic environment showcases innovation in action, leaving everyone inspired and equipped for what lies ahead. 

Startups feedback

"The session was invaluable in helping us better understand the needs of legal professionals from diverse backgrounds.”- Jimini.ai Founder

"Collaborative workshops like these are far more enriching than traditional pitch sessions. They challenged us to refine our strengths and identify areas for improvement.”-Justice.cool Founder

Participants feedbacks:

“All conversations were eye-opening and gave different perspectives on HOW.”-   Schneider Electric Vice President

Schneider Electric Overall Rating: 4/5

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