FALCON has launched D Labs, its digital transformation services offering for areas such as digitalisation, upskilling of core capabilities and new venture co-creation. Through D Labs, FALCON aims to help corporates and brands enter and expand into new digital ecosystems with a focus on B2C solutions.
FALCON will share the new venture risk and invest together with its corporate partners and brands for its digital transformation activities. It plans to expand D Labs across Asia Pacific and eventually offer its services to global accounts. The FALCON ecosystem also comprises full-service digital agency FALCON Agency and eCommerce company Sén Natural. FALCON Agency plays an important role in D Labs by providing various trainings, workshops and hackathons for brands, corporates and SMEs. Among the list of brands it has worked with include Deliveroo, Klook, Scoot, Wine Connection and Motul.
In a statement to Marketing, partner Max-F. Scheichenost said after working with more than 40 brands and partners at FALCON Agency, launching its own eCommerce vertical and conducting trainings, workshops and hackathons for brands in sectors such as FMCG, travel and tech, the company realised that "there is a substantial gap in the market".
"You either have strategy consultants who are great in developing long-term digital transformation strategies or agencies who are well set up for digital campaign execution. But what is missing is an entrepreneurial full-stack partner that can bring a brand's digital transformation strategy to reality and have skin-in-the game. This is what we set out to do with D Labs," he explained. He added that besides industry leading companies, D Labs also considers SMEs one of its core partners as they play an important role in Asia Pacific.
FALCON has developed a range of activities under D Labs, starting from its Future of X series done in collaboration with Facebook, to conducting workshops and hackathons, as well as venture co-creation with SMEs. When asked how FALCON will obtain the monetary investment for D Labs, Scheichenost said it will come from a range of collaborative operating models. These include digital transformation workshops, digital capabilities training or at-cost-servicing with a co-equity in the new venture. "It really depends on the needs and digital maturity stage of our partner," he added.
As for the new ventures it aims to co-create, Scheichenost said FALCON will focus on the verticals of travel, FMCG, F&B and tech/eCommerce, as the company has proven its excellence in these areas. FALCON will eventually expand into other segments such as financial services.
Scheichenost said FALCON's vision is to be a one-shop partner from strategy to co-creation of new ventures with sustainable business models and partnerships. He added that digital transformation is a journey that requires agile business and operational models, fuelled by technologies, processes, analytics and data, as well as talent. These will help create maximum value and experience for customers, employees and stakeholders.
"In the last 12 months, we have conducted more than a dozen trainings, workshops and hackathons for brands in the travel, tech, automotive, FMCG, F&B and eCommerce space. The launch of D Labs allows us to formalise and offer this to a much wider market," Kelvin Koo, CEO of FALCON Agency said.
He added that clients are not looking for "another training" but rather expertise from hands-on practitioners and entrepreneurs who are developing solutions with them side-by-side. "This is our role and what makes us unique in this approach," Koo explained.
Recently, FALCON’s co-founder Daniel Endres stepped down from his role to spend more time with his family, five years after founding the agency together with Scheichenost. This comes after the successful transition of former managing director of Singapore Kelvin Koo to regional CEO in October 2018. Endres remains on the board as a member and actively contribute towards FALCON’s expansion into Europe.