Diageo, the renowned beer and spirits company, has launched a new initiative called Fusion Partnership Lab to develop digital concepts and explore the future of social celebration. This program aims to bring together Diageo’s strategic innovation and brand-building expertise with cutting-edge technologies from external pioneers in the food and beverage industry.
The first focus of the program is to understand how people unwind and entertain at home. Diageo’s Distill Ventures already supports early-stage start-ups, and Fusion Partnership Lab will complement this by bringing in growth-stage tech companies working on digital concepts. The theme for the first cohort is ‘Celebrate at Home’, where participants will explore new frontiers in how individuals unwind, experiment, and entertain in their own spaces.
Diageo is particularly excited about leveraging the latest technology to create highly personalized experiences for the home. This could involve using artificial intelligence to hand-pick product recommendations or utilizing virtual reality and augmented reality to transform a living room into a music arena with a front-row seat for everyone.
The program is open to applicants from both within and outside the drinks industry. The 13-week program is set to kick off in January 2024, and Diageo is currently accepting applications to identify 15 companies for the inaugural cohort. Chosen participants, who must already have launched digital products in the market and secured sufficient financial runway, will gain access to Diageo’s industry expertise, consumer insights, and external speakers and coaching to develop consumer-focused, digital concepts.
The program consists of two phases. The first phase involves broad concept ideation, while the second phase focuses on refining the chosen concept. The program concludes with a ‘Demo Day,’ where Diageo will select up to five concepts to progress to a post-program pilot stage. During this stage, selected participants will have the opportunity to enter a commercial relationship with Diageo and receive the necessary support to co-develop, validate, refine, and launch new products in the market.
Diageo has a history of collaborating with tech-focused companies and has already worked with Ripples, Vivanda, Aircards, and GladCloud. The company believes that partnering with entrepreneurs through Fusion Partnership Lab will help ensure its portfolio of iconic brands remains at the forefront of social celebration.
While the current focus is on ‘Celebrate at Home,’ Diageo plans to scale the program and run future editions, each centered around a different priority area for the business. All participants in the program will become Fusion by Diageo alumni, forming a growing community of pioneers who are redefining the way we celebrate life, every day, everywhere.
For more information about the program and the application process, visit www.fusionpartnershiplab.com. The deadline for applications is November 24, 2023.