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The large groups all say that they want to invest in the start-up ‘biosphere’ in order to learn more about breakthrough models and other work methods, different partners and future investments. To do so, almost all of them are now investing in business incubators and/or investment funds. The AXA group has found a more original way via its independent subsidiary, Kamet, a start-up which has 100 million Euros, and is managed by Stéphane Guinet, a former entrepreneur (Assurland.com) and former member of AXA’s executive committee (AXA Global Direct). Using a very selective process and organised around short cycles (called ‘sprints’), Kamet can call upon AXA for necessary resources. It is surrounded by seasoned ‘serial entrepreneurs’ whose purpose is to invent and implement disruptive models of the insurance sector which are initially mostly the property of the AXA group.