For Immediate Release|
Contact: Maria Englund, menglund@mkpr
Michael Kaminer Public Relations, 212/627-8098
New York, April 26, 2000 - With an eye toward helping traditional companies "unleash their e-potential," a high-powered quartet of Internet strategists has founded a new-generation consulting firm offering an innovative twist on Internet incubators. Dubbing itself a "surrogate", Complete-e Strategies works with existing companies to identify untapped "genetic material" in their corporate assets, and to conceive of an entirely new, but complementary, line of business on the Web. To avoid delay, Complete-e then steps in to give birth to the new entity by serving as interim management. Complete-e also provides more traditional consulting services such as strategic partnership analyses and recommendations.
According to Ron Dayan, President and CEO of Complete-e Strategies, this model is more suitable for established corporations because these corporations often lack the management team required to promptly bring the new venture to market. "Outsourcing the entire seed and proof-of-concept phase is also beneficial as it lowers the company's overall risks, buys them time to hire long term talent, and avoids bringing VCs into the picture too early."
Dayan believes that most of the unrealized potential in e-business resides in legacy corporations that have solid foundations and assets built up over many years. As one example, he cites a recent PriceWaterhouseCoopers survey which found that only 17% of corporations rated themselves as "e-commerce innovators". Nearly 80% of the 78 companies surveyed said that Internet business accounted for less than 5% of revenue.
"As seen in the survey, creating a new Internet venture is a huge undertaking requiring companies to change the shape and focus of their organizations," said Dayan. "We offer our two-phase surrogacy model as the solution. During phase one, we identify the company's hidden e-potential, create the idea for the new venture, and develop a plan to unleash it onto the Web. During phase two, we assume a hands-on management role, guiding our clients through early venture development."
In an arrangement that is well aligned with both the needs of client companies and employees, Complete-e's team members receive an equity stake directly in the new Internet spin-offs they help to create.
The firm's largest client, Espro Engineering International, is a leader in the design and execution of audio-guiding systems for visitor-oriented venues such as museums and historical sites. According to Dayan, Espro and Complete-e will launch an exciting new spin-off this spring.
Complete-e is backed by The Sunrise Financial Group a leading technology investment firm. Along with other investors, Sunrise will provide the capital needed to build these innovative new companies. By taking a multi-disciplinary approach to consulting, Complete-e Strategies supports clients with research driven analysis, strategic partnering and financing. Complete-e also has relationships with a network of technology, financial, creative, and legal partners, which it taps to seed clients' spin-offs.
Acting as interim management, Complete-e's team also selects and contracts with vendors, including interactive agencies, PR firms, legal and accounting services, and recruitment agencies. "Our clients often lack the personnel necessary to bring a new venture to life," said Helen Bennett, Vice President of Complete-e Strategies. "We fill this gap by assuming the management role ourselves, and by handling recruitment initiatives to hire the talent needed for the long-term."
Ron Dayan is one of four founding members who left IllusionFusion, a top-25 interactive agency, to form Complete-e in January. At IllusionFusion, Dayan served as the Executive Vice President of Strategy. Dayan's co-founders include Helen Bennett, Vice President; Kristy Weiler, Strategist; and Michael Clausen, Associate Strategist. Their experience includes work with clients such as IBM, USWest, Prudential, Fannie Mae,and Younology.com.
About Complete-e Strategies
Moving beyond the traditional business incubator model, Complete-e Strategies employs its innovative "surrogacy" strategy to help companies build new Internet ventures. Its team of Internet strategists performs "e-potential evaluations" to assist established companies in leveraging their legacy assets to branch into an entirely new line of business. The team then assumes a hands-on management role, carrying the new business from conceptualization to the early financing stages. Taking a multidisciplinary approach to consulting, Complete-e Strategies supports clients with research-driven analysis, strategic partnering and financing. Based in New York City, Complete-e Strategies was founded in January of 2000 by Ron Dayan, Helen Bennett, Kristy Weiler, and Michael Clausen. The company is backed by The Sunrise Financial Group.