Over the past years, we at WhatAVenture have provided guidance on various innovation topics to over 250 clients, gaining valuable insights into the diverse approaches and challenges of implementing entrepreneurship within corporate structures. To shed light on both success stories and potential pitfalls, we conducted an extensive study, focusing on corporate ventures in the DACH region (Germany, Austria, Switzerland, and South Tyrol, Italy). This study is based on qualitative data derived from interviews with more than 40 senior innovation managers, and project leads from medium to large companies. Our sample selection concentrated on companies with over 500 employees and prioritized innovation projects of a more disruptive nature.
Our tip: Evaluate the fit of the corporate venture to the corporate vision, strategy and portfolio of the mother company from the very start of every open innovation project. Innovation projects that are far away from the core business or operate under a different business model logic are likely to backslide in a corporate environment. Consider spinning them off early in the process in order to let them flourish.
Our tip: Corporates and startups operate on two different paradigms, which makes stakeholder management even more critical and challenging. The success of the venture building project heavily depends on budget allocation. You need a corresponding budget that is well-aligned with the strategic goals, well-managed and sustainable.
Requirements within an innovation project change over time, and the initial validation team does not automatically have to be the later corporate venture team, as it needs a different time investment, a different skillset and different expertise within the team. The corporate venture team must be re-evaluated at each stage of the project’s lifecycle.
You've already had a chance to pursue venture building in your organization? Then go ahead and join our study! Share your experience, successes and set-backs, and help other organizations learn and grow in this field.
New business departments
Corporate venture building units or venture studios
Complete the survey by October 5th.
- How corporates are able to develop radical business ideas next to their core activities
- What are the key factors and biggest obstacles to successful corporate innovation management
- What checkpoints are critical when setting the stage for your next venture building project
- How can you support intrapreneurship teams on their innovation journey
- What are the biggest challenges of scaling a corporate venture
- Why many corporate startups fail and what the biggest challenges of scaling a corporate venture are