Corporate venturing is the practice by which large corporations systematically collaborate with technology startups to accelerate their innovation and growth. It is a win-win process. Large corporations acquire agility, generation of new ideas, motivation of their teams, openness to take risks, etc. On the other hand, the startups benefit from the access to the market of the corporations, their teams, climbing capacities, resources and capital, etc.
A good start-up ecosystem proves better at shortening innovation cycles, exploiting technology, improving existing business models and inventing new ones faster and more effectively than large corporations. It is said that it is not the strongest of the species that survives, but the most adaptable. Main objectives of a Good Corporate Venturin Programmeg:
- Explore new technologies and/or business models to gain strategic insight
- Renew corporate culture to foster a broad entrepreneurial mindset
- Access entrepreneurial talent and energy
- Use external innovation to promote an existing corporate innovation (i.e., a platform)
- Marketing and public relations
- Develop big brands to attract customers, partners and talent (digitization, etc.)
- Solve busines problems more quickly and cost-effectively and at lower risk
- Expand into future markets by accessing new capabilities, channels or emerging technologies
- Leverage new and/or faster routes to market
- Improve corporate social responsibility
- Develop potential acquisition targets
- Earn a financial return on venture investments
The experience of Baker Tilly in corporate venturing and advising companies in high-growth sectors, especially in the technology sector, allows us to help you systematically establish a relationship with startups that accelerates your growth. Our Intelfin tool provides a comprehensive view of trends and disruption generation in your market. Our methodology is comprehensive and encompasses everything from setting objectives to choosing tools and supporting the execution of the strategy:
- Define Objectives
- Self-assessment of the company’s situation
- Identify the areas of your business more exposed to innovation
- Check the areas in your industry that are creating sustained growth opportunities
- Set up your preferred search fields, in line with the previous steps
- Choose the tools to use and when. Complement internal and external innovation
An acquisition implies the highest level of integration and commitment. As innovation is a risky path, we will help you approach and measure risk-taking gradually.
In Corporate Venturing there are different tools that can be used depending on the objective to be achieved and the degree of integration and use of capital to be invested:
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