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CORPORATE
VENTURING
CORPORATE
VENTURING
- toolkit -
16
WWW.BUNDL.COM
tools for
disruptive innovation
40% of companies will be dead in 10 years
said ex-Cisco CEO John Chambers in 2015
Everybody’s talking about staying ahead
of the game, but…
How fast is the business landscape really changing?
LET’S HAVE A LOOK…
Technology feels like it’s accelerating,
because it actually is
1600 1700 1800 1900 20001650 1750 1850 1950 2050
Printing Press
1st
Driverless Car
First 3D Chip
Microprocessor
Wordprocessor
MS-DOS
Apple Macintosh
Windows
WWW
Cell Phones
Hybrid Cars
Google
Youtube
iPad
3D Movies
DVDs
Telegraph
Man on Moon
Car
Telephone
Light BulbSteam EngineTelescope
Exists for 9 years
3.1 million rooms
$30 billion market cap
active in 191 countries
Exists for 60 years
1.1 million rooms
$17.8 billion market cap
active in 110 countries
2008
Airbnb started from scratch and has now reached double the
market cap of Marriott, with triple the amount of rooms
In 9 years…
1937 2009
active in 70 countries
Exists for 8 years
1 million rides/day
$70 billion market cap
Exists for 80 years
0.85 million units/day
$74 billion market cap
active in 110 countries
Uber reached approximately the same market cap as
Volkswagen without owning a single car
In 8 years…
Pokémon GO was downloaded 130 million times,
with a revenue of $206.5 million
In 1 month…
Market leader
1998
Profits nosedive 30%
2009
Market leader
1999
Bankruptcy
2012
The increasing speed of change made it hard
for some established dinosaurs to keep up
andreas@bundl.com
Want to team up and tackle new markets together?
Reach out to Andreas and get our conversation started!
KICKSTART YOUR VENTURE
Age
MarketCap
5025
$25B
$50B
$75B
$100B
$200B
$300B
$400B
$500B
75 100 125
The new kids in town are more than just a hype
DATE OF $1B VALUATION OF PRIVATE UNICORN SINCE 2011
And they are only disrupting further
2011 2012 2013 2014 2015 2016 2017
Pretty fast, huh?
“In the new world, it is not the big fish which eats the
small fish, it’s the fast fish which eats the slow fish.”
The Customer Of Tomorrow is your new CEO
So now what?
How can corporations be pro-active?
Corporate dinosaurs avoid extinction
by corporate venturing, to hunt for startup unicorns
61.7% of the unicorns mentioned by the Wall Street
Journal under the Billion Dollar Startup Club have raised
funds from at least one corporate
(not including investment firms and banks)
Corporate venture initiatives are
popping up everywhere
There are about 1,300 corporate
venture units out there, almost
double the amount of 6 years ago
Niche market venture units are rising, even in traditional
non-technology industries
BEER SPIRITS ENTERTAINMENT TRAVEL AUTOMOTIVE
So what does corporate venturing mean?
Corporate venturing can take many forms.
At its most basic, it can be purely a financial investment with a
larger company taking an equity stake in a smaller company
This is most often done through a separate fund being set up
specifically to invest in startup and growth companies, done in the
same way as traditional venture capital firms
Why use corporate venturing?
As a corporate venture, your
small team is able to steer
their course with more
freedom, act quickly and
more independently, and
experiment with the
opportunities ahead.
SPEED
The opportunity to operate freely
also allows for new core businesses.
Knowing that the average lifespan of
a company in the S&P 500 index has
decreased from 61 years in 1958 to
just 18 years today, it is never a bad
idea to start exploring alternate
options of future growth.
NEW CORE BUSINESS
POTENTIAL
When scouting for the future and
discovering new options, you are
forced to gradually learn about new
and emerging markets.
A wider market window is simply more
ground to cover, requiring your
employees to broaden their vision and
gain new insights that can also be
applied to your current market.
A WINDOW ON
THE MARKET
Venture investing is in essence risky,
but the greatest risk is not to invest
at all.
Launching new ventures to the
market goes faster, spreads risk and
leaves room for error. Yet the reward,
finding an idea or concept that
speaks to the consumer, remains.
RISK MITIGATION
RISK
The entrepreneurialism and the
pioneering spirit that prevails in
young technology firms helps to
stimulate a unique innovation
culture and to incorporate external
intelligence.
CULTURE
Read more about ‘Why Corporate Venturing is Key for Innovation’
on our Blog!
KICKSTART YOUR VENTURE
How does a company ‘do’ corporate venturing ?
There are many ways to get engaged in ventures
CORPORATE
VENTURING
- toolkit -
Let’s highlight the most common types
CORPORATE
VENTURING
- toolkit -
Sweden’s biggest phone carrier TeliaSonera’s interest
was a joint partnership in innovation with Spotify.
01
In 2014, raised $115 million from for a 1.4 percent stake
CORPORATE VENTURE CAPITAL
Corporations use direct equity investments to target startups
of strategic interest.
Why? The answer is probably user growth. Over 500
million people used WhatsApp monthly at the time and
added more than 1 million users per day.
02 Established firms purchase startups or young companies and their commercial-
ready products in order to access new technologies or markets. 
MERGERS & ACQUISITIONS
acquired for 19 billion $In 2014,
03
CORPORATE ACCELERATOR
Accelerators offer highly structured programs that typically last no more than three
months. These programs provide startups that do not yet have proven products or
services with the facilities, resources, and expertise needed to speed their product
development and time to market.
The 3 year old AI technology startup joined the 6-month virtual
program. In 2016, MasterCard has partnered with Rainbird to
implement the latter's artificial intelligence technology.
6-month programIn 2015, was the only British company selected for the
Jaunt announced that it has licensed Disney Research's cutting-
edge VR video technology and will be collaborating with Disney
Research to integrate it into Jaunt's Cloud Services.
These partnerships offer the same advantages of regular corporate
accelerator programs, but are run in partnership with external parties
that have the blueprints for the program.
CORPORATE ACCELERATOR PARTNERSHIP
was presented at the demo day of the powered byIn 2016,
03B
04
CORPORATE INCUBATOR
This includes mentoring and value-added services to support
entrepreneurs building viable, market-ready ideas.
A corporate incubator starts even before the idea is created.
The startup's success is a win for Coca-Cola as an investor, gives them access
to new markets, and lets them leverage their assets in new ways.
empowers startups from scratch to scale-up, like
In-house incubators function as startups within a corporate setting. Teams of
intrapreneurs convene for short projects, during which they rapidly prototype new
products or services to test a minimum viable product by the end of the project. In-
house incubators do not involve the R&D department.
IN-HOUSE INCUBATOR
“Area 120 is a new approach, part incubator, part new take on
the spirit of the 20% time program,” said CEO Sundar Pichai.
Right now, is setting up
AREA
120
to birth companies from intrapreneurs
B04
Bundl is a venture development studio teaming up with
corporates to create new ventures from scratch and
tackle new markets together.
05
VENTURE DEVELOPMENT STUDIO
A venture development studio, startup studio, company builder or venture
builder, is a structure that creates repeat startups based on shared resources
and a multidisciplinary team. It provides Startup as a Service (SaaS).
created and launchedAt the end of 2016, with an undisclosed consumer bank
"Adidas go lets your energy level control the music that plays during
your run, so you're always in control. For the first time, instead of
runners listening to music, music will listen to runners,” said Adrian
Leek, General Manager of Adidas Running.
06
STRATEGIC PARTNERSHIP
Alliances between established corporations and startups can take many
forms, including the co-development of products and services.
partnered withIn 2015, to launch
VENTURE
DEVELOPMENT
INCUBATOR
ACCELERATOR CVC
INVESTMENT
M&A
STRATEGIC
PARTNERSHIP
INNOVATION
PROJECTS
CURRENT
MARKETS
NEARBY
MARKETS
NEW
MARKETS
WHAT’S THE INNOVATION SPEED YOU CAN MAKE IN 2 YEARS?
Read more about ‘How to do Corporate Venturing’
on our Blog!
KICKSTART YOUR VENTURE
CORPORATE
VENTURING
- toolkit -
And here are the other types of corporate ventures
07
HACKATHON
The goal of the hackathon is to discover and explore how digital technology can help
grow and further reinforce a sense of community and belonging that transcends location,
providing a meaningful shared football fan experience for everyone.
A focused workshop where software developers come together to
collaboratively find technological solutions to a corporate
innovation challenge.
On February 10th 2017, kicked off to discover new football fan experiences
Check out our Disruption Derby
The perfect hackathon formula to disrupt your industry
KICKSTART YOUR VENTURE
08
ACQUI-HIRE
Acqui-hiring is the process of acquiring a company to recruit its
employees, without necessarily showing an interest in its products and
services—or their continued operation.
“We have always focused on hiring smart, talented engineers.
Their entrepreneurial spirit and desire to make an impact makes
them great additions to Facebook,” says Facebooker Phillip Su.
acqui-hired the British firmIn 2013, for certain assets and employees
09 A means to grant startups access to resources while the established
corporations get closer to the entrepreneurial ecosystem.
SHARING RESOURCES
A co-working space like Co.Station’s is a good example of sharing resources
with startups. The goal is stimulating entrepreneurship and providing the
startup/scale-up community with the tools to innovate & grow.
launched its second to boost and access the digital ecosystem in BelgiumIn 2016,
On behalf of corporates, x3Fab creates and delivers
digital startups with their team, in their offices, with
their methods and their control over capital.
10 This structure lets development studios use their own external team to carry
out venture projects on behalf of a third party, individual or company.
EXCUBATOR
In 2016, launched as an excubator for corporate ideas
“The entrepreneurs-in-residence play an important role in Target’s overall innovation portfolio.
West, Greg and David are building new businesses inside Target in a way that’s never been
done before and we think there’s massive potential to grow by working differently,” said
Target’s Chief Strategy and Innovation Officer Casey Carl.
11
ENTREPRENEUR-IN-RESIDENCE
An Entrepreneur-In-Residence is an informal and usually temporary position at
the corporate venture capital arm of the company. EIRs introduce organizations
to new business models, technologies, and strategic partnership opportunities.
EIRs build bridges into the startup community.
turned to West Stringfellow and 2 others as entrepreneurs-in-residenceIn 2015,
This unique competition is organized by SevenVentures, the venture
capital arm of European media giant ProSiebenSat.1. With the
backing of its parent company, SevenVentures is able to provide
millions of euros worth of media to the winners of the pitch day.
12
CHALLENGE PRIZE
An open competition that focuses on a specific issue, offering an incentive
to field innovators to develop the best solution.
Since 2009, has organised its annual competition for start-ups
SCOUTING MISSION
The established company
appoints an individual within a
given industry to scope out
innovation opportunities in
alignment with the corporate
strategy.
13 1
EMPLOYEE JURORS/MENTORING
These team members
participate in startup
competitions to spot
emerging technologies or
business models early.
14
LICENSING
This enables corporations to
apply innovations developed
by startups to new markets,
industry sectors and customer
segments.
16
CORPORATE UNIVERSITY
PARTNERSHIPS
Collaborations between
corporate R&D departments
and university researchers to
find promising ideas for
further development and
investigation.
15
More insights on how to choose from the Venturing Toolkit
ECOSYSTEM INNOVATION
VENTURE
DEVELOPMENT
STRATEGIC
PARTNERSHIPS
CULTURE NEW MARKETS
EVENTS
Creating a platform for
startup engagement
SHARING
RESOURCES
Entrepreneur-In-Residence,
Corporate University Partnership
ACCELERATORS
Corporate & Partnership
INCUBATORS
Corporate, Inhouse & Excubator
CVC
INVESTMENT
01
02
03
04
05
06
OTHERS
MERGERS &
ACQUISITIONS
M&A, Acqui-Hire
Rejuvenate
corporate culture
For current or
nearby markets
For new sectors
or target groups
Hackathon, Challenge
Prize, Scouting Mission
CorporateVenturingTools
Corporate Objectives
Most recommended
Recommended
Least recommended
Read more about ‘Choosing the right Venturing Tool’
on our Blog!
KICKSTART YOUR VENTURE
How do these ventures work within the organization?
A corporate spin-off, also known as a spin-out, or starburst, is a type of corporate
action where a company "splits off" a section as a separate business. Either the unit or
operation of the startup company does not fit in with the existing market, or the aim is
to unlock value for shareholders.
YOU CAN SPIN OFF
YOU CAN SPIN IN
Spin-ins develop technology and products that are aligned with the objectives of the
parent firm while maintaining activities on a separate balance sheet. If the startup
meets a desired milestone, it is absorbed by, or spins into, the mother firm.
A spin-along is a combination of a spin-off and a spin-in. Spin-alongs ‘spin out’ non-
core activities but still get dominant control from the parent company. It offers the
company the opportunity to externalize innovation activities that don’t match the
existing business.
OR YOU CAN SPIN ALONG
andreas@bundl.com
Questions?
Or want to book a lecture around this topic?
KICKSTART YOUR VENTURE
More about us?
or
SUBSCRIBE TO OUR NEWSLETTER

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Corporate Venturing - 16 Tools for Disruptive Innovation

  • 2. 40% of companies will be dead in 10 years said ex-Cisco CEO John Chambers in 2015
  • 3. Everybody’s talking about staying ahead of the game, but…
  • 4. How fast is the business landscape really changing? LET’S HAVE A LOOK…
  • 5. Technology feels like it’s accelerating, because it actually is 1600 1700 1800 1900 20001650 1750 1850 1950 2050 Printing Press 1st Driverless Car First 3D Chip Microprocessor Wordprocessor MS-DOS Apple Macintosh Windows WWW Cell Phones Hybrid Cars Google Youtube iPad 3D Movies DVDs Telegraph Man on Moon Car Telephone Light BulbSteam EngineTelescope
  • 6. Exists for 9 years 3.1 million rooms $30 billion market cap active in 191 countries Exists for 60 years 1.1 million rooms $17.8 billion market cap active in 110 countries 2008 Airbnb started from scratch and has now reached double the market cap of Marriott, with triple the amount of rooms In 9 years…
  • 7. 1937 2009 active in 70 countries Exists for 8 years 1 million rides/day $70 billion market cap Exists for 80 years 0.85 million units/day $74 billion market cap active in 110 countries Uber reached approximately the same market cap as Volkswagen without owning a single car In 8 years…
  • 8. Pokémon GO was downloaded 130 million times, with a revenue of $206.5 million In 1 month…
  • 9. Market leader 1998 Profits nosedive 30% 2009 Market leader 1999 Bankruptcy 2012 The increasing speed of change made it hard for some established dinosaurs to keep up
  • 10. andreas@bundl.com Want to team up and tackle new markets together? Reach out to Andreas and get our conversation started! KICKSTART YOUR VENTURE
  • 12. DATE OF $1B VALUATION OF PRIVATE UNICORN SINCE 2011 And they are only disrupting further 2011 2012 2013 2014 2015 2016 2017
  • 14. “In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish.”
  • 15. The Customer Of Tomorrow is your new CEO
  • 17. How can corporations be pro-active?
  • 18. Corporate dinosaurs avoid extinction by corporate venturing, to hunt for startup unicorns
  • 19. 61.7% of the unicorns mentioned by the Wall Street Journal under the Billion Dollar Startup Club have raised funds from at least one corporate (not including investment firms and banks)
  • 20. Corporate venture initiatives are popping up everywhere There are about 1,300 corporate venture units out there, almost double the amount of 6 years ago
  • 21. Niche market venture units are rising, even in traditional non-technology industries BEER SPIRITS ENTERTAINMENT TRAVEL AUTOMOTIVE
  • 22. So what does corporate venturing mean?
  • 23. Corporate venturing can take many forms. At its most basic, it can be purely a financial investment with a larger company taking an equity stake in a smaller company This is most often done through a separate fund being set up specifically to invest in startup and growth companies, done in the same way as traditional venture capital firms
  • 24. Why use corporate venturing?
  • 25. As a corporate venture, your small team is able to steer their course with more freedom, act quickly and more independently, and experiment with the opportunities ahead. SPEED
  • 26. The opportunity to operate freely also allows for new core businesses. Knowing that the average lifespan of a company in the S&P 500 index has decreased from 61 years in 1958 to just 18 years today, it is never a bad idea to start exploring alternate options of future growth. NEW CORE BUSINESS POTENTIAL
  • 27. When scouting for the future and discovering new options, you are forced to gradually learn about new and emerging markets. A wider market window is simply more ground to cover, requiring your employees to broaden their vision and gain new insights that can also be applied to your current market. A WINDOW ON THE MARKET
  • 28. Venture investing is in essence risky, but the greatest risk is not to invest at all. Launching new ventures to the market goes faster, spreads risk and leaves room for error. Yet the reward, finding an idea or concept that speaks to the consumer, remains. RISK MITIGATION RISK
  • 29. The entrepreneurialism and the pioneering spirit that prevails in young technology firms helps to stimulate a unique innovation culture and to incorporate external intelligence. CULTURE
  • 30. Read more about ‘Why Corporate Venturing is Key for Innovation’ on our Blog! KICKSTART YOUR VENTURE
  • 31. How does a company ‘do’ corporate venturing ?
  • 32. There are many ways to get engaged in ventures CORPORATE VENTURING - toolkit -
  • 33. Let’s highlight the most common types CORPORATE VENTURING - toolkit -
  • 34. Sweden’s biggest phone carrier TeliaSonera’s interest was a joint partnership in innovation with Spotify. 01 In 2014, raised $115 million from for a 1.4 percent stake CORPORATE VENTURE CAPITAL Corporations use direct equity investments to target startups of strategic interest.
  • 35. Why? The answer is probably user growth. Over 500 million people used WhatsApp monthly at the time and added more than 1 million users per day. 02 Established firms purchase startups or young companies and their commercial- ready products in order to access new technologies or markets.  MERGERS & ACQUISITIONS acquired for 19 billion $In 2014,
  • 36. 03 CORPORATE ACCELERATOR Accelerators offer highly structured programs that typically last no more than three months. These programs provide startups that do not yet have proven products or services with the facilities, resources, and expertise needed to speed their product development and time to market. The 3 year old AI technology startup joined the 6-month virtual program. In 2016, MasterCard has partnered with Rainbird to implement the latter's artificial intelligence technology. 6-month programIn 2015, was the only British company selected for the
  • 37. Jaunt announced that it has licensed Disney Research's cutting- edge VR video technology and will be collaborating with Disney Research to integrate it into Jaunt's Cloud Services. These partnerships offer the same advantages of regular corporate accelerator programs, but are run in partnership with external parties that have the blueprints for the program. CORPORATE ACCELERATOR PARTNERSHIP was presented at the demo day of the powered byIn 2016, 03B
  • 38. 04 CORPORATE INCUBATOR This includes mentoring and value-added services to support entrepreneurs building viable, market-ready ideas. A corporate incubator starts even before the idea is created. The startup's success is a win for Coca-Cola as an investor, gives them access to new markets, and lets them leverage their assets in new ways. empowers startups from scratch to scale-up, like
  • 39. In-house incubators function as startups within a corporate setting. Teams of intrapreneurs convene for short projects, during which they rapidly prototype new products or services to test a minimum viable product by the end of the project. In- house incubators do not involve the R&D department. IN-HOUSE INCUBATOR “Area 120 is a new approach, part incubator, part new take on the spirit of the 20% time program,” said CEO Sundar Pichai. Right now, is setting up AREA 120 to birth companies from intrapreneurs B04
  • 40. Bundl is a venture development studio teaming up with corporates to create new ventures from scratch and tackle new markets together. 05 VENTURE DEVELOPMENT STUDIO A venture development studio, startup studio, company builder or venture builder, is a structure that creates repeat startups based on shared resources and a multidisciplinary team. It provides Startup as a Service (SaaS). created and launchedAt the end of 2016, with an undisclosed consumer bank
  • 41. "Adidas go lets your energy level control the music that plays during your run, so you're always in control. For the first time, instead of runners listening to music, music will listen to runners,” said Adrian Leek, General Manager of Adidas Running. 06 STRATEGIC PARTNERSHIP Alliances between established corporations and startups can take many forms, including the co-development of products and services. partnered withIn 2015, to launch
  • 43. Read more about ‘How to do Corporate Venturing’ on our Blog! KICKSTART YOUR VENTURE
  • 44. CORPORATE VENTURING - toolkit - And here are the other types of corporate ventures
  • 45. 07 HACKATHON The goal of the hackathon is to discover and explore how digital technology can help grow and further reinforce a sense of community and belonging that transcends location, providing a meaningful shared football fan experience for everyone. A focused workshop where software developers come together to collaboratively find technological solutions to a corporate innovation challenge. On February 10th 2017, kicked off to discover new football fan experiences
  • 46. Check out our Disruption Derby The perfect hackathon formula to disrupt your industry KICKSTART YOUR VENTURE
  • 47. 08 ACQUI-HIRE Acqui-hiring is the process of acquiring a company to recruit its employees, without necessarily showing an interest in its products and services—or their continued operation. “We have always focused on hiring smart, talented engineers. Their entrepreneurial spirit and desire to make an impact makes them great additions to Facebook,” says Facebooker Phillip Su. acqui-hired the British firmIn 2013, for certain assets and employees
  • 48. 09 A means to grant startups access to resources while the established corporations get closer to the entrepreneurial ecosystem. SHARING RESOURCES A co-working space like Co.Station’s is a good example of sharing resources with startups. The goal is stimulating entrepreneurship and providing the startup/scale-up community with the tools to innovate & grow. launched its second to boost and access the digital ecosystem in BelgiumIn 2016,
  • 49. On behalf of corporates, x3Fab creates and delivers digital startups with their team, in their offices, with their methods and their control over capital. 10 This structure lets development studios use their own external team to carry out venture projects on behalf of a third party, individual or company. EXCUBATOR In 2016, launched as an excubator for corporate ideas
  • 50. “The entrepreneurs-in-residence play an important role in Target’s overall innovation portfolio. West, Greg and David are building new businesses inside Target in a way that’s never been done before and we think there’s massive potential to grow by working differently,” said Target’s Chief Strategy and Innovation Officer Casey Carl. 11 ENTREPRENEUR-IN-RESIDENCE An Entrepreneur-In-Residence is an informal and usually temporary position at the corporate venture capital arm of the company. EIRs introduce organizations to new business models, technologies, and strategic partnership opportunities. EIRs build bridges into the startup community. turned to West Stringfellow and 2 others as entrepreneurs-in-residenceIn 2015,
  • 51. This unique competition is organized by SevenVentures, the venture capital arm of European media giant ProSiebenSat.1. With the backing of its parent company, SevenVentures is able to provide millions of euros worth of media to the winners of the pitch day. 12 CHALLENGE PRIZE An open competition that focuses on a specific issue, offering an incentive to field innovators to develop the best solution. Since 2009, has organised its annual competition for start-ups
  • 52. SCOUTING MISSION The established company appoints an individual within a given industry to scope out innovation opportunities in alignment with the corporate strategy. 13 1 EMPLOYEE JURORS/MENTORING These team members participate in startup competitions to spot emerging technologies or business models early. 14 LICENSING This enables corporations to apply innovations developed by startups to new markets, industry sectors and customer segments. 16 CORPORATE UNIVERSITY PARTNERSHIPS Collaborations between corporate R&D departments and university researchers to find promising ideas for further development and investigation. 15
  • 53. More insights on how to choose from the Venturing Toolkit
  • 54. ECOSYSTEM INNOVATION VENTURE DEVELOPMENT STRATEGIC PARTNERSHIPS CULTURE NEW MARKETS EVENTS Creating a platform for startup engagement SHARING RESOURCES Entrepreneur-In-Residence, Corporate University Partnership ACCELERATORS Corporate & Partnership INCUBATORS Corporate, Inhouse & Excubator CVC INVESTMENT 01 02 03 04 05 06 OTHERS MERGERS & ACQUISITIONS M&A, Acqui-Hire Rejuvenate corporate culture For current or nearby markets For new sectors or target groups Hackathon, Challenge Prize, Scouting Mission CorporateVenturingTools Corporate Objectives Most recommended Recommended Least recommended
  • 55. Read more about ‘Choosing the right Venturing Tool’ on our Blog! KICKSTART YOUR VENTURE
  • 56. How do these ventures work within the organization?
  • 57. A corporate spin-off, also known as a spin-out, or starburst, is a type of corporate action where a company "splits off" a section as a separate business. Either the unit or operation of the startup company does not fit in with the existing market, or the aim is to unlock value for shareholders. YOU CAN SPIN OFF
  • 58. YOU CAN SPIN IN Spin-ins develop technology and products that are aligned with the objectives of the parent firm while maintaining activities on a separate balance sheet. If the startup meets a desired milestone, it is absorbed by, or spins into, the mother firm.
  • 59. A spin-along is a combination of a spin-off and a spin-in. Spin-alongs ‘spin out’ non- core activities but still get dominant control from the parent company. It offers the company the opportunity to externalize innovation activities that don’t match the existing business. OR YOU CAN SPIN ALONG
  • 60. andreas@bundl.com Questions? Or want to book a lecture around this topic? KICKSTART YOUR VENTURE More about us? or SUBSCRIBE TO OUR NEWSLETTER