It seems like everyday it’s getting better to start new ventures in Canada.
Highline Beta has announced a new collaboration with the Royal Bank of Canada (RBC) to help co-create new ventures meant to solve complex consumer and business problems. The goal is to use the immense resources provided by RBC and combine them with a startup mentality, creating the ability to launch new and extremely scalable ventures.
The new startups will also not be limited to the financial world, as RBC and Highline Beta look to explore new possibilities beyond what the banking giant is known for.
“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.”
In addition to helping RBC’s efforts towards internal venture development, Highline Beta will connect the banking giant with new talent and startups that can benefit from the extra resources and possibly help grow any new startups.
“Startups and big companies don’t speak the same language, and it’s genuinely hard for either of them to work together,” said Daniels. “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 no stranger to innovation, especially over the last 12 months. The bank introduced new features called NOMI built around AI, and partnered with fintech mainstay Wave to integrate invoicing and business insights into RBC’s online platform.
“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.”
Beyond this partnership and recent AI and fintech integrations, RBC also created a global assets management lab, designed to function as an in-house tech hub that will incubate digital capabilities and drive innovation. The bank also recently invested in Montreal’s Creative Destruction Lab, showing that they are going all out for Canadian innovation.