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Ask a room of new business leaders what is holding them back and you will rarely hear "ideas". You will hear about the org chart, the sign-off process, and the executive who went quiet.
Our 2026 study puts numbers on it. The most-cited struggles are top management commitment, named by 44%, and the governance model, named by 42%. Strategic direction and access to funding follow, each around 36%, then freedom to act at 31%. Business opportunities sit near the bottom of the list.
These struggles cluster into three: structure, governance, and execution. Together they decide whether a good idea becomes a company. Here is what each looks like when it goes wrong, and what good looks like.
Struggle one: structure that fits the strategy
There is no right structure, only a fit to your strategy, your instruments, and your context. Our 2026 study shows a near-even split: 43% run one overall team, 37% run separate teams per instrument, and a fifth have no dedicated unit and work ad hoc.
The setup matters less than the clarity it creates: where venturing happens, what it can use from the core, and who owns the resources. A structure that leaves those questions open stalls every venture underneath it. The fix is to decide, on purpose, where activities sit and where they draw on core teams and assets.
Struggle two: governance that lets ventures move
Governance is the second most-cited struggle, and it is tied to the first: strong governance and executive support are what give a team the freedom to act.
Read well, governance is the set of clear, fast decisions that let a venture proceed without asking permission at every step. The failure mode is a steering committee that meets monthly and treats a venture like a capital project. The fix is decision rights and speed set up front, matched to the risk of the venture rather than the habits of the core.
Struggle three: execution and the freedom to act
Execution is where strategy meets the guardrails. It covers the decision, steering and evaluation processes, funnel and portfolio management, budgets, and the mandate a team actually holds.
Freedom to act, named by 31%, is the visible symptom: teams that cannot hire, spend or decide without a queue of approvals. The successful units settle the mandate before the build, so the team knows what it can do without asking. A clear mandate is cheaper than a fast one bolted on after the venture is already late.
Why top management commitment sits underneath all three
One struggle runs under the other three. Top management commitment is the most-cited difficulty in the 2026 study, and it has recurred across three straight years of our research.
Structure, governance and execution all depend on it. Without sustained backing from the top, the org chart drifts, governance hardens into caution, and mandates shrink. Executive air cover is the enabler the other three rest on, which is why it belongs on the agenda before the first venture is funded, not after the first one stalls.
What good looks like
The units that get past these struggles treat structure, governance and execution as design choices made before the first build, connected by a clear operating model. Strategy sets the why. The operating model sets the how: what to achieve, what kind of venturing is needed, how to reach decisions fast, and how to give teams the ability and freedom to act.
Getting these right is hard, and the study is honest that most builders are still working at it. The point is not a perfect setup. It is a deliberate one.
The conditions to build
Structure, governance and executive backing are what separate the units that ship from the ones that stall. Our 2026 study, based on surveys and interviews with 50+ senior new business leaders across DACH, sets out those conditions and how the successful units put them in place. Read the state of new business building 2026.
FAQ
What are the biggest challenges in corporate venturing?
In our 2026 study the most-cited are top management commitment (44%) and the governance model (42%), followed by strategic direction and access to funding (about 36% each) and freedom to act (31%).
Should new business sit inside the core or in a separate unit?
There is no single right structure. The study shows a near-even split between one central team (43%) and separate teams per instrument (37%), with a fifth working ad hoc. The right setup fits your strategy and context.
Why does new business need top management commitment?
Structure, governance and execution all depend on sustained executive backing. Without it, mandates shrink and governance turns cautious. It is the struggle most builders name, across three years of our research.
What is the freedom to act in new business building?
The mandate a venture team holds to hire, spend and decide without a queue of approvals. Strong governance and executive support are what enable it.
The state of new business building 2026
New business building is shifting: Resources are tighter. Expectations are higher. This study shows how new business builders in DACH are responding and which ones are pulling ahead.
