What makes corporate ventures successful
Practical insights on how to make your corporate venture a success from 40+ leading corporates in the German-speaking region. We shed light on how successful corporates implement radical and disruptive innovations in the corporate field and build successful corporate ventures.
What is it about?
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.
Who is it for?
The insight provided by this study will help to set the foundation for top management and senior innovation managers (as well as future project leads of corporate startups) to successfully set up and steer innovation and venture building projects within the corporate environment.
We use our proven framework to build new ventures
Get started with the right setup and find out early if you should consider a venture spin-off
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.
Gain key stakeholder commitment for your project and secure your venture building budget
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.
Build your venture team for success with the right internal and external support
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.
76%
of study participants cited new revenue streams generation as one of the reasons to start with venture building.
81%
of study participants have worked with external venture builders.
54%
of study participants have established a dedicated venture building unit or team.
Insights from 30+ corporates across various industries
Our research is built on data gathered from interviews with more than thirty participants from the companies who either have an active venture builder or explored a few venture building projects on a case-by-case basis, spanning across multiple industries, such as Automotive, Chemicals, Construction, Energy, Engineering, Financial Services, Electronics, Travel, Logistics, and others. The insights apply to all corporates diving into venture building, which means you don’t need to reinvent the wheel to get started. Learn from the study participants and our decade of experience to navigate the path to successful venture building.
What insights you will gain
- 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
Can’t get enough of venture building?
We are a corporate venture builder
We leverage corporate power to create successful ventures and new revenue streams. We accompany, support, and help established companies as facilitators, sparring partners, or even team members in the implementation of innovative programs and innovation strategies. Furthermore, we help them make their own ventures a success.
