THE DIFFERENT FLAVOURS OF CORPORATE VENTURING
12th Meeting of the European TTO CIRCLEMay 4th
Corina Kuiper
Corporate Venturing NetworkCVN is a successful non commercial peer-to-peer network of corporations and
organizations active in corporate venturing and open innovation ecosystems
› Collaborate on Corporate Business Development› Establish an Open Innovation ecosystem
› Encourage Entrepreneurship
Professional association of corporate venturing professionals
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What is corporate venturing
“the activity of a large company investing money in a smaller company in return for a share of its profits”
DICTIONARY
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Our definition of Corporate Venturing
all of the entrepreneurial activities aimed at setting up new businesses by large corporate organizations, including- Incubate and scale-up internal ventures - Collaborations with and/or invest in external start-ups- Collaborations with and/or invest in VC funds- (Corporate) Accelerators- Open business co-creation with other corporates- Collaborations with (regional) innovation Hubs
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Link to the book: https://www.voc-uitgevers.nl/shop_artikel.asp?boek=Corporate%20venturing&ac=1001
All about disrupting and transforming a company
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BUT WHAT IS DISRUPTIVE INNOVATION ?
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© The Innovation family Source: Ron Adner. The Wide Lens
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4X4 INNOVATION MATRIX
Kuiper, C., & van Ommen, F. (2015). Corporate Venturing - Managing the Innovation Family in a dynamic world. VOC publisher© The Innovation family
Requires different mindsetNew business
New Business CreationEstablished business
Product creation
• Generate new opportunities• Deal with the Unknowable• New ecosystem• Building mountains• Changing customer behavior• Building new channels • New business models• Learning / iterative• Mid/long-term• New capabilities
• Recombine existing resources• Mitigating risk• Existing ecosystem• Market share battle• Customer insights known• Leverage existing channels • Established business models• Focus on execution/leverage• Short/mid-term• Existing organization
© The Innovation familyKuiper, C., & van Ommen, F. (2015). Corporate Venturing - Managing the Innovation Family in a dynamic world. VOC publisher
Also different favours of venturing
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Strategic choice: Scope of Venturing
FinancialSupportexisting
businesses
Add tothe portfolio
Type ofAmbition
Main Resources
Outside Core
Within Core
Both insideand outside
Core
Eco-system
Venturing
Venture Innovation
Corporate Private Equity
Venture Harvesting
New Leg ‘Fishing’ Note:
Types with a grey background are not normally recommended
Size of circle does not represent frequency or impact. It shows which boxes are covered by the type
Source: Ashridge Strategic Management Centre, 2003
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Corporate Venturing: HOW ?
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Kuiper, C., & van Ommen, F. (2015). Corporate Venturing - Managing the Innovation Family in a dynamic world. VOC publisher
Many different flavors
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Kuiper, C., & van Ommen, F. (2015). Corporate Venturing - Managing the Innovation Family in a dynamic world. VOC publisher
Different starting points
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Kuiper, C., & van Ommen, F. (2015). Corporate Venturing - Managing the Innovation Family in a dynamic world. VOC publisher
.. But you don’t want one hand clapping
ONLY EXTERNAL VENTURING
ONLY INTERNAL VENTURING
NEED BOTH EXTERNAL AND INTERNAL VENTURING
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Historic waves of corporate venturing
1960 - 1970“The first wave”
Corporate Venturing as a
financial instrument
1980 - 1990“The second wave”
Increasingly functional use of
Corporate Venturing
1990 - 2000“The third wave”Participating in the
‘New Economy’
2006 - 2008“The fourth wave”
Innovation paramount
2008 - 2014“The fifth wave”
Connecting the DotsProfound changes
Unprecedented opportunities for
collaboration
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JOIN US IN CO-CREATING YOUR INNOVATION ECOSYSTEM
WWW.CORPORATEVENTURINGNETWORK.COM
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www.readytoteamup.comCorporates, start your benchmark
Startups, start your benchmark
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