France-based workplace mobility and benefits technology provider Edenred is to launch an internal incubator that will give its employees the chance to develop ideas that could support the company’s core businesses.
Edenred Factory will invite bids in two categories – employee benefits, and fleet and mobility solutions – from now until February 2018. Two winning teams will then be able to work on their projects at Edenred’s headquarters for six months.
Support will be offered by the firm’s innovation teams and an undisclosed digital consulting company. Following the incubation period, Edenred plans to either integrate the startups’ ideas or launch separate spinouts.
Edenred entered corporate venturing in 2011 with a $20m contribution to venture capital firm Partech International’s $sixth fund. It launched a standalone CVC subsidiary called Edenred Capital Partners the following year to target sectors of strategic interest.
Edenred Capital Partners’ portfolio includes La Compagnie des Cartes Carburant, a distributor of fuel cards for small businesses, as well as restaurant communications platform Zenchef and recruitment marketing software developer Beamery.