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Corporate Venturing: the future is called collaboration
This document discusses corporate venturing and provides a framework for how large companies can collaborate with startups. It addresses: 1. The challenges of keeping up with rapidly changing customer, market, and technology environments that put pressure on existing business models. 2. A proposed solution of a "hybrid model" using both "inside-out innovation" by upgrading the company and "outside-in innovation" through collaborating with startups. 3. A venturing framework including focus areas, configuration options, guidelines for communication and cultivation, and establishing the right mindset, means, and mandate for corporate venturing.
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Corporate Venturing: the future is called collaboration
- 1. CORPORATE VENTURING @dadovanpeteghem THE FUTURE ISCALLED COLLABORATION dado.vanpeteghem@duvalunion.com
- 2. Duval Union Consulting SocialSeeder/Speakersbase @dadovanpeteghem founding partner @dadovanpeteghem Ghent :)
- 3. Digital Transformation A model tomaster digital disruption. @dadovanpeteghem digitaltransformationbook.com Launched 2014 Sold in +55 countries
- 4. Organisations are falling behindof the rapidly changing customer, market and technology 1. THE CHALLENGE CUSTOMER MARKET TECHNOLOGY As a result, business models are under pressure.
- 5. You need AFASTER CLOCK SPEED than the market. To Win in this New World
- 6. Most of usare big boats. PAST: ‘Economies of scale’ was a competitive advantage TODAY: In a time where technology is the leverage - ‘economies of scale’ is becoming a downside, the big mass is making you slow Reality is…
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- 8. LegacySlow Safety PeopleProfit ≠ "invented here" MINDSET
- 9. = "assembled here" MINDSET By bettingon collaboration.
- 10. “INSIDE-OUT INNOVATION” Constantly upgrading the mothership “OUTSIDE-IN INNOVATION” Whilecollaborating with external speedboats A dual approach for a faster clockspeed than the market:
- 11. The Mothership &The Fleet 2. THE SOLUTION: A HYBRID MODEL FOR TRANSFORMATION
- 12. You can launchyour own speedboats, or you can work together with existing ones. “CORPORATE VENTURING”
- 13. ARE CORPORATES EVIL? ‘theydon’t understand tech, no entrepreneurs, want to kill startups,…’ NOPE as long as the intent and expectations are clear… Let go of your prejudices
- 14. ARE STARTUPS EVIL? ‘theythink all they do is gold, don’t know how to make money, arrogant,…’ NOPE as long as the intent and expectations are clear… Let go of your prejudices
- 15. Corporate Venturing isalready happening, but not necessarily in the right way… 5 Bad practices But that’s not always the case…
- 16. AD HOC SPRAY ANDPRAY 1 First come first served
- 17. THE CORPORATE BLACK HOLE 2 Let’shug them to death
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- 19. TO BE COOLor for CSR ‘Competition does it too’ 4 PR > Real Value
- 20. NO END GAMEIN MIND 5 Investment as the final step vs the starting point
- 21. HOW TO SETTHIS UP THE RIGHT WAY? “CORPORATE VENTURING”
- 22. 3. THE APPROACH VENTURING FOUNDATION Mindset Means Mandate 1 VENTURING FRAMEWORK Coalition Configuration Communication Codeof conduct Cultivation 3 VENTURING FOCUS Why! 4 axes to play Core and Extended Core 2
- 23. THE VENTURING FOUNDATION Successfactors of corporate venturing MINDSET MEANS MANDATE “license to create impact” “license to operate” “license to go fast” Financials Resources Ambitions Expectations Roles Governance KPIs 1
- 24. THE VENTURING FOCUS Whyare you doing this? INNOVATION Controlled ‘self-disruption’ CULTURE Change the mindset SCALE & EXPAND Entering new markets SPEED Oxygen and autonomy to grow fast RECRUITMENT New talent close to you FINANCIAL Potential new income streams & efficiency ADVISE Ability to pivot around challenges 2
- 25. WHAT ARE YOUOFFERING? MENTORSHIP business topics INSIGHTS market/industry MONEY cash/non equity NETWORK clients/ investors/ marketing INFRA- STRUCTURE housing/ technology CREDIBILITY new clients, other investors What’s in it for the startup?
- 26. @dadovanpeteghem CUSTOMER RELATION ORGANISATION PRODUCT BUSINESSMODEL Foundation Innovation VENTURING FOCUS In which axis of the business do you need help?
- 27. @dadovanpeteghem Stop looking forideas Try to solve problems
- 28. WHERE IS THE… GOLDCASHFLOW THEVENTURING FOCUS What are your big bets for the future?
- 29. KEY QUESTIONS: - WHATWILL HELP US TO BUILD THE FUTURE? (TECH? SUSTAINABILITY?…) - WHERE CAN WE ADD VALUE WITH OUR EXPERTISE? DEFINE YOUR STRETCH “EXTENDED CORE” Radical Adjacencies “CORE“ Mothership
- 30. THE VENTURING FRAMEWORK 5C’s of Corporate Venturing COALITION CODE OF CONDUCT CULTIVATION COMMUNICATION CONFIGURATION STRONG COLLABORATION 3
- 31. COALITION CEO MktSales R&D IT CORPORATE VENTURINGTEAM BOARD GOVERNANCE SET THE RIGHT ROLES FOR CORPORATE VENTURING FLEET MANAGER MENTORS “INTRA MUROS” SCOUTS CONNECTOREVANGELISTS “EXTRA MUROS” (GET OUT OF THE BUILDING)
- 32. CONFIGURATION M&A ACQUI-HIRE EQUITY INVESTMENTS NON-EQUITY INVESTMENTS ACCELERATOR JOINTVENTURE CO-OWNERSHIP NETWORK EVENTS DISCOVERY START-UP MONDAYS START-UP SAFARIS CHAT DATE MARRY CO-HABITATION STARTUP-AS-A-SERVICE BUY FROM STARTUPS COLLABORATION Venturing ‘go to market’
- 33. THE GARAGE Avoid yourcorporate home for the date :-) Create a home for radical innovation…
- 34. Incubator Accelerator Ideas Start-ups VCfund M&A Scale-ups Mature The Garage Investment management “Volatile Growth” “Stable Growth” THE DIFFERENT CORPORATE VENTURING PERSPECTIVES
- 35. Think Big, StartSmall and Scale fast And always: kill your darlings.
- 36. COMMUNICATION YOU CAN Signalthe market ‘ABOVE THE RADAR’ PARTNERING WITH EXISTING STARTUP NETWORKS SETTING UP PUSH PLATFORMS (SITE, SOCIAL,…) ACTIVELY EVANGELIZING ON EVENTS YOU CAN Scout for opportunities ‘UNDER THE RADAR’ BUYING FROM STARTUPS GOING TO TECH/STARTUP CONFERENCES FOLLOWING RELEVANT TECH/STARTUP SOURCES
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- 38. CODE OF CONDUCT 1.BE COMMITTED, ITS NOT A GAME 2. DON’T FUCK UP THEIR CULTURE 3. BE TRANSPARENT 4. DEFAULT TO ‘YES’ 5. LEAD THE WAY 6. BE A STUDENT, NOT THE TEACHER 7. PAY IT FORWARD “Rules of engagement” ‘A Set of Shared Goals’ that work bi-directional
- 39. CULTIVATION ACTKNOW Evaluate EVERYTHING YOUDO IN BOTH DIRECTIONS!
- 40. “The Accelerator Index” 0105 TURBO-PROPELLER Partner is a vital element in the success of your business. PROPELLER Partner is pushing you forward and creates new opportunities. ANCHOR Partner is not pushing you forward, stand-still. TORPEDO Partner has a negative impact on your business activities. How much has your partner accelerated you?
- 41. WIN - WIN—> :-) LOSE - LOSE —> DIVORCE WIN - LOSE —> MISMATCH MEETING LOSE - WIN —> MISMATCH MEETING “The Accelerator Index” How much has your partner accelerated you?
- 42. CONVERSION = CASHFLOW CULTURE = GOLD CorporateVenturing is a ‘Flywheel’ to stimulate “The Corporate Startup Mindset” THE ROV“Return On Venturing”
- 43. DON’T HOLD THEIR SHOULDERTHE GOAL IS To let go& don’t sit on their bike :)
- 44.