BrazilBCG's Digital Ventures business lands in the Middle East
Global management consulting giant Boston Consulting Group has grown its family of brands in the Middle East with the addition of BCG Digital Ventures – the firm’s corporate venturing and digital innovation business.
Advisory group Boston Consulting Group (BCG) is one of the world’s leading consultancies, and over the years the firm has diversified from its traditional strategy consulting heritage into several other segments within the consulting landscape.
Today, the near $9 billion group operates with multiple specialist brands, including BrightHouse (purpose advisory), BCG Inverto (supply chain and procurement consulting), BCG Platinion (technology transformation), BCG Gamma (artificial intelligence) and BCG Digital Ventures (corporate innovation and business building services).
Within three months of bringing its BCG Platinion subsidiary to the Middle East, Boston Consulting Group has now also launched its BCG Digital Ventures arm in the region, setting up shop simultaneously in two cities: in Dubai (UAE) and Riyadh (Saudi Arabia).
Commenting on the launch, Juergen Eckel, managing director and partner, and head of BCG Digital Ventures for Europe, the Middle East, South America and Africa, said: “As the Middle East ushers in a new digital age, accelerated by the impact of the Covid-19 pandemic, bolstered by a young population, and with a bold vision for transforming local economies, we see a remarkable opportunity to unlock this wave of innovation.”
“We have huge ambitions to redefine key markets and industries, and create impact for our clients through customer-centric innovation and building disruptive new businesses.”
Launched in 2014 (after BCG acquired a team of Booz & Company [now Strategy&] in the US), BCG Digital Ventures has since its inception helped corporates launch nearly 200 businesses. Some of its notable clients shared externally (the firm is like parent BCG particularly secretive about its client roster) are Volkswagen, MISC Berhad, HCF and Shell.
In the region, BCG Digital Ventures has fostered client relationships since 2019, “so we already have a proven track record in delivering game-changing businesses for leading public and private organisations,” said Eckel.
Joerg Hildebrandt, a managing director and senior partner who heads BCG in the Middle East, said: “With BCG Digital Ventures now permanently on the ground, we can tackle some of the region’s biggest challenges, while making a positive impact on its people, communities and economies.”
Stefan Gross-Selbeck, the global managing partner of BCG Digital Ventures, added that the subsidiary is excited to be launching in the Middle East, adding to its 12 other centers in cities including New York, Paris, Shanghai, London, Singapore, Sydney, and Tokyo.
“The Middle East is where some of the most exciting digital transformations are poised to happen, and with our strong client relationships, and the team we have in place, we’re well positioned to help some of the biggest corporations in the world achieve their digital ambitions.”
According to a report from McKinsey & Company (an arch rival of BCG), the need for corporate innovation has never been higher than it is today, with half of company revenues set to be derived from new products, services or businesses by 2026. Digital – including technology, cloud and platforms – is at the core of most business innovation.
