Letts Group’s Incubator

Corporate incubators have been all the rage. Around 10 years ago, a number of corporates started to set up some kind of corporate incubator or accelerator to nurture new business lines and innovative products. They had a limited vision of ‘incubator’ – generally designed to host new startups within their facilities. They offered them resources, support and, as they matured, market access.

10 years later many of these corporates have scaled down their efforts or largely abandoned them. Corporate incubator 1.0 did not realise its somewhat loose ambition. A number of the more innovative corporates and a few management consultants are working on the next generation of corporate incubator.

Letts Group has taken a different approach. Our incubator is an internal function that is central to the organisation. It is our growth engine – period.

“We see our incubator as a strategic, internal, centralised function. We have repositioned the group as a ‘branded incubator group’ to underscore this. We don’t just make small bets on our incubator or outsource it’s core capability. We’ve bet the entire shop on our incubator. It is our core capability.”

The concept of incubator has been with us for 225 years. In 1996, our original founder, John Letts opened a stationery shop and publishing incubator in the city of London. The front rooms the shop and the back rooms the incubator studio. From this setup he launched the world’s first commercial diary in 1812. It was market tested exclusively in the store and designed and made in the back rooms.

Letts Group’s Chairman, Philip Letts, started to develop the latest generation incubator in 1998. It was a separate entity, called Prophete, that nurtured external, non-branded innovations. It developed concepts such as Beenz, the Web currency, and Surfkitchen, a mobile operating system and media platform. It was an important parallel initiative as we started the process of divesting some of our book publishing interests.

In 2007 we further developed Letts Group’s latest generation incubator, after initial successes. We built a proprietary incubation methodology, which is called Innov@te™, and we designed our first incubator studio with a clutch of then, very new, cloud systems and processes. From this base we launched b-uncut, a social network for artists and blur Group, an online marketplace for creative services. Both were successfully spun out and became independent businesses.

It took much of the last 10 years to perfect the methodology, systems and processes to get to the point where we felt comfortable that our incubator was ready to develop multiple Letts branded businesses and products from scratch – and in parallel.

At the end of 2020 we gave the go ahead for 3 new Letts branded ventures to go to ‘live concept phase’. The tech industry would call it ‘beta launch’. The first hits the market in June. We have engineered the group, and developed the incubator, to the point where we feel comfortable that we will be launching a new Letts venture per year, starting this year.

It’s taken us 20 years to get to this point but we believe that we might have a line on corporate incubator 2.0. The proof will be in the pudding – starting next month!

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Letts Media Publication Examines Solutions to the Climate Change Crisis for Earth Day

Letts Media publication ‘Surviving’ outlines a possible roadmap to reduce global warming – for Earth Day.

We should all understand the challenge by now. If we don’t keep global warming to 2 degrees above pre-industrial levels we risk an irreversible climate crisis.

“There are two ends of the problem that need to be addressed. We need to both reduce emissions and get better at capturing and storing carbon in the right places, rather than letting it escape into the atmosphere which adds to the heating problem.”

From ‘Surviving’

The article goes on to look at 5 macro-level solutions to the crisis that are proven, deliverable in the shorter term and internationally relevant. As we celebrate Earth Day 2021 it is important to not just focus on the risks that climate change presents – but to highlight the advances and approaches that can start to solve the problem.

“We have boiled it down to just 5 macro-solutions to the problem that combined should get us there – they include renewables, electrification, replacements, rewilding and lifestyle.

Extract from Letts Media’s ‘Surviving’

Letts Media publication ‘Surviving’ is about navigating business, innovation and life. It is edited by Philip Letts who is supported by some amazing analysts and researchers at the Surviving thinktank.

To read this and other articles go to Surviving.


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Letts Media Publication Examines Rewilding in London

Letts Media publication DSP Online is currently running a series on rewilding in London.

When we think of rewilding, too often we imagine vast wilderness or national park’s such as Yellowstone Park. Less known, but potentially as impactful, is smaller-scale rewilding which yields similar benefits in smaller green spaces in cities and the countryside.”

Sebastian Letts

This series is timely given that researchers and scientists have recently stated that we could reverse much of the damage of global warming by rewilding around 15% of key lands. A study in the Journal of Nature has shown that by doing this we could avoid 60% of expected wildlife extinctions while sequestering 30% of the CO2 increase in the atmosphere since the industrial revolution.

To achieve wider rewilding targets we will need to develop rewilding techniques for urban and rural settings. One of Letts Environment’s rewilding experts is producing a series of reports which looks at approaches that could be taken in smaller, well known public spaces in London.

Rewilding such spaces would enable them to absorb the cities emissions while creating habitats which support wildlife. It would also educate Londoners about the importance of rewilding and hopefully inspire them to rewild their gardens.”

DSP Online

Rewilding could prove to be the most cost effective and holistic approach to reversing the damaging effects of climate change by absorbing emissions back into the soil while restoring and rebuilding wildlife populations. We have lost 68% of our animals worldwide in the last 50 years.

DSP Online is the leading publication for people who want to understand the affects of climate change and the growing array of solutions. It also examines eco-futures, research, findings and the environmental arts.

By subscribing to DSP Online you also get to support one of the worlds leading centres for smaller-scale rewilding based in southwest England.

If you want to understand more about climate change and the range of solutions being developed, subscribe to Letts Media publication DSP Online today – CLICK HERE.


Keep up to date with the latest Letts Group news – follow us on twitter @LettsGroup.