Corporate reinvention: a conversation with our latest venture partner — Peter Borchers.
Peter Borchers talks about Europe’s future, collaboration as a powerful tool, and the entrepreneurial mindset
At FoundersLane we work closely with venture partners to harness their extensive networks and deep industry experience. Peter Borchers, partner of pbo.vc and a co-founder and lecturer of the Entrepreneurial Leadership Programme (ESCP) U-School, brings a wealth of experience in venture building having also founded and headed Deutsche Telekom‘s global incubator, hub:raum. Furthermore, he set up and was CEO of Allianz X (company builder and 500mn USD fund) and was senior advisor to Allianz SE, Stihl, among others.
He was also a member of the Digital Advisory Board of the German Federal Government between 2015 and 2018.
He was even named in Manager Magazin’s list of Top 20 Digital Influencers in Germany.
Borchers has been at the coalface building businesses for most of his career. And, he has a unique perspective having been an investor, corporate and entrepreneur. It is quite unique for someone to have been part of the startup ecosystem from all angles.
Europe faces unprecedented threats
There is no question that as the global economy digitalises, Europe faces unprecedented challenges.
The biggest current threat to Europe is that we might miss the train and therefore lag behind other economies in the long run.— Peter Borchers
Indeed, this opinion is shared by many corporate leaders in Europe, who are worried that there is a lack of urgency across the board, perhaps, a symptom of the continent’s enduring success. But to ensure that future generations will enjoy the same opportunities that we do, a long-term strategy is essential.
There is a tightrope we need to walk. “Privacy and security need to be respected,” says Borchers. “But, we need to move at speed to remain competitive in the global digital race. In Europe, we are overly cautious at times, and many decisions are driven by the need to keep shareholders on side, rather than boldly innovating.”
Most CEOs and business leaders realise that digitalisation presents many benefits for both customers and businesses with “better, more personalised products, increased levels of service, while at the same time dramatically reducing the environmental impact of our economy through more efficient processes,” says Borchers.
However, efforts so far have been largely “fragmented, untuned, and lack consistency and persistency.” He often sees companies that have no clear digital vision, that is both understood by senior management and communicated throughout the organisation.
“Only the established organisations who are open to reinventing themselves, and who have a long-term perspective — will prevail.”
Beyond the corporate world, Borchers is inspired by people who come from different backgrounds: entrepreneurial, activism, scientific, artistic, and sports. Indeed, it is incontrovertible as we build towards a new sustainable future for Europe, and the world, that we will need leaders from all walks of life, with unique talents, and diverse perspectives.
As a responsible leader of the BMW Foundation, Borchers aims to make positive social changes — across communities, cultures, and countries. He sees social and political challenges as an incentive to assume responsibility, using his knowledge and skills, network, and influence.
Positive change is not something that can take place in silos at government or board meetings, but through multilayered collaboration; not just between tech entrepreneurs, business leaders, and policy-makers, but across industries and nations, with the aim of building a pan-European ecosystem, where knowledge, growth capital, and technical capabilities can be shared and harnessed. When coupled with an entrepreneurial mindset, incumbent businesses will then be in a strong position to build sustainable businesses, fit for the future.
If done right, this collaboration can be an “extremely strong tool.” However, for it to work there needs to be a “balanced model where both parties can profit equally,” Borchers says.
Indeed for collaboration to be catalysed “platforms like the Fightback Movement create a safe space for corporates, entrepreneurs, and policy-makers to meet and plan new initiatives. It is more about action than networking,” says Felix Staeritz, Founder Partner of FoundersLane, and the Fightback Movement.
A stronger Europe for a better world is the catchphrase of the movement. Indeed the standard of living and happiness of Europeans will be directly linked, in the future, to its position in the global economy — and based on predictions by PwC, six of the seven largest economies in the world will be emerging economies by 2050, led by China.
If companies in Europe lose ground as a consequence of failing to adopt new technology, the impact will be felt by individuals first. The standard of living that Europeans enjoy could be at risk in the future.
Borchers sees that as something worth fighting for. Despite being “a person with already quite a high level of constant and intrinsic happiness.” The set and setting in which you live are essential and this is something that Europe must strive to protect for future generations.
We are happy to have him with us.
