CEO Challenge There is no stronger proof of our people’s passion for innovation and challenge than the Deloitte CEO Challenge.
Frank Vettese, Managing Partner & Chief Executive Officer, launched the contest in 2015, calling on all Deloitte people in Canada to come up with groundbreaking ideas to address clients’ mission-critical needs. The winning team would receive up to $200,000 in seed money to implement its concept.
In the end, 663 ideas were submitted to our ideation platform, where they generated 6,000 votes and 2,000 comments. An incredible 70 percent of the firm engaged with the Challenge at some point. The top five teams faced a Dragons’ Den-style panel to make their pitch.
The winner, as chosen by the CEO and a panel of judges, was Deloitte Wearables. The wearable technology industry is set to grow from an estimated $3.3 billion to $8.1 billion in the next few years. The Wearables team aims to capitalize on this opportunity with a focus on health and safety, establishing partnerships with vendors and academia and also working with clients to design disruptive new solutions that infuse analytics capabilities into wearable technologies.
“Both the quantity and the quality of the submissions was impressive,” says Frank. “As a result, we decided on the spot to award $100,000 in seed money to each of the other four teams to develop their ideas further. To make sure that no good ideas are left behind, our Innovation Office is also assisting people who want to keep working on their concept, even if they didn’t make the winner’s circle this year.”