Knowledge transfer in CVC - June 2018
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Knowledge transfer in CVC - June 2018 Presented at Innova360 in Santiago, Chile
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Knowledge transfer in CVC - June 2018
- 1. KNOWLEDGE TRANSFER IN CORPORATE VENTURE CAPITAL Mathieu Guerville Director | UL Ventures
- 2. 3.00% Percentage of CVC deals that lead to acquisition by the CVC parent company
- 3. Fred Wilson @ CB Insights panel discussion
- 4. WHY INVEST IN STARTUPS? Market Intelligence Edge of today’s markets Adjacent markets Disruptors Competitors Innovation Multi-disciplinary R&D Talent shortage (e.g. AI) Fast track Proprietary tech (exclusive license, ROFR) Financial Returns Meet or exceed WACC. Internal and external credibility.
- 6. BIG PROBLEM CVC teams aren’t designed to tow the large organizational ship!
- 7. “It’s hard to do… I don’t think we do it well! Source: everyone I talked to
- 8. IN CVC, POST INVESTMENT MANAGEMENT* IS TWOFOLD CVC Team Business Units & Divisions Portfolio Companies * and fiduciary duty
- 9. PHASED, BUT FAST, APPROACH 2. facilitate 3. communicate 1. educate 50% during diligence 50% post close Manage expectations Protect both sides Stay in the loop Celebrate wins
- 10. Some pointers to help Tools Different goals and horizons = different tools. Attitude Find learners with the right attitude, not job title. Budget Education isn’t free. Room & board, etc. Flexibility Results matter more than sticking to the story in the IC deck Success stories Success begets success, but only if others hear about it. KPIs Behavioral economics + organizational design = science, not art.
- 11. Thank you.
- 12. appendix Source: ■ The Life Cycle of Corporate Venture Capital | Song Ma. June 7, 2016. Yale SOM ■ Corporate Venture Shifts Gears | Max Brigl. April 25, 2016. Boston Consulting Group
Editor's Notes
- Early ROI vs time to an actual exit Training and development in topics you can’t “go back to school” for new topics Only way to be smart money to the startups Open innovation vs the old closed funnel
- Tools = Hackathons, worksessions, tours, etc.) How fast do you want the knowledge transfer and how far away from your core. Learning can’t always happen over the phone, and can’t always happen if someone can’t pay for the trip