Ingolstadt / Berlin, 24.02.2019
Audi and Table of Visions create crowdfunding solution to support innovative projects
The Audi AG relies on the specialists for crowd-based software solutions Table of Visions when implementing its internal crowdfunding platform. Swarm financing at the Four Rings: For the first time, Audi employees have successfully deployed crowdfunding internally to implement their project ideas as a group, using existing financial resources. Audi is one of the first companies to effectively integrate this promising and modern approach to financing new projects within the company. Audi Crowdfunding consolidates resources between the departments using a cross-business digital platform. This innovative method represents another milestone in the transformation of Audi’s corporate culture.
- Interdepartmental financing of employees’ work-related ideas
- Several pilot projects already successfully implemented
- Audi-CIO Frank Loydl: “Pioneering methods of cooperation within the company”
Crowdfunding generally involves a group of people – the “crowd” – who contribute money to fund implementation of a new idea. The costs are shared between the various stakeholders. The unique feature of the internal crowdfunding tool at Audi is that the financial support is based on the regular department budget, which is explicitly approved by the relevant superior. During the trial phase, all employees at AUDI AG locations in Germany have had the opportunity to suggest innovative and work-related project ideas, share them with their colleagues, discuss them virtually and, ultimately, to co-finance them.
“Audi Crowdfunding brings creative employees from a wide range of areas together with internal investors so they can implement bold ideas as a team. We are using this visionary work method to foster the initiative of our employees while also strengthening the team spirit within the company,” emphasizes Frank Loydl, Head of Audi IT and Chief Information Officer (CIO). Good ideas get the resources they need, collaboration is made faster, more transparent and more effective, Loydl says.
Several successful projects have already been achieved through Audi Crowdfunding. This includes a consistent concept for communicating with promising young talent, aimed at making the brand a tangible experience for kids between the ages of three and twelve years. The focal point is the charming character “ADUI,” a small, two-dimensional robot. About 20 different departments from various areas supported financing of an agency pitch and a style guide via the crowdfunding platform. ADUI made his debut last month during the Audi e-tron experience tour at Munich Airport.
In another project, multiple departments financed the development of the first Audi chatbot. Interested students can now ask a virtual assistant questions they have about training and internships at Audi. The test version has been online since the beginning of the year (https://bepart.audi/).
The new platform also boosts efficiency within the company: It was no longer necessary to develop a technical tool, since a similar tool was already available in another department. A good example of the way crowdfunding fosters the sharing of knowledge within the company and can prevent duplication of effort.
A combined team from the Audi Production Lab and Audi Employee IT developed the beta version of the crowdfunding platform in partnership with Table of Visions GmbH, a company specialising in crowd-based software solutions. After the successful completion of the test phase, a decision will be made this year about making Audi Crowdfunding a permanent component of fostering innovation alongside Audi’s existing collaboration programs.
„In order for companies to successfully position themselves in the market in the future, internal potential must be more fully exploited and capitalised on,“ says David P. Heberling, a director of Table of Visions GmbH. „Using our internal crowdfunding platform, we have delivered Audi a solution to stimulate ideas and innovative projects, finance them across departments, and realise them collaboratively.“
Table of Visions GmbH
David P. Heberling
T: +49 30 39 40 64 114
About Table of Visions:
Table of Visions is one of the leading providers of crowd-based software solutions, with applications ranging from idea and innovation management to open innovation solutions. Founded in Berlin in 2010, the company is trusted by customers such as Sparkassen-Finanzgruppe, Audi AG and Wikimedia Deutschland.