SOGINNOVE: an innovation to help innovative enterprises
In 1973, when the world economy was facing the effects of the first oil crisis, Societe Generale created Soginnove.
Throughout its history, Societe Generale has not only used innovation to benefit its own development and its staff. Quickly understanding that innovation fuels economic growth and allows companies to survive in times of crisis, early on the Bank showed its desire to support audacious and innovative entrepreneurs. In 1973, when the world economy was facing the effects of the first oil crisis, Societe Generale created Soginnove.
This subsidiary’s objective was to help and support innovative companies launching projects. Soginnove took a minority stake in companies and accompanied them, pulling out again once the companies reached a more substantial size. The first bank to implement such an initiative, Societe Generale thus participated in innovative projects across a broad spectrum of domains: the launch of the first IT system enabling heart attacks and brain tumours to be visualised on a colour television monitor; the development of a company that, already back in 1973, salvaged plastic bags for conversion into pellets; the invention and marketing of the electronic chessboard allowing players to play chess games on their own... In its 10th year of existence, Soginnove supported 65 companies representing 4,000 employees and billions of francs in turnover. In 2000, following the application of new consolidation norms, the subsidiary was fully consolidated.
The history of innovations at Societe Generale
To switch on the subtitles, launch the video then click on the captions icon under the video progress bar.