CORPORATE VENTURE
Accelerate your business with these expert tips on "Corporate Venture" - take a look and discover this TIP!
The corporate venture is a new form of corporate entrepreneurship that many large companies are starting to apply to boost their internal innovation processes. By connecting directly with entrepreneurs and startups, This allows them to capture talent, technology and new business models.
Likewise, there are large companies that have technological challenges that they cannot solve internally with their own staff, and that need to find innovative solutions, often in the hands of startups.
Advantages for large companies:
- Exploring new technologies and business models with the intention of developing new strategic ideas.
- Renewing corporate culture of the company, seeking a business environment that is closer to the entrepreneurs.
- Capture new talents.
- Develop a more attractive brand in the eyes of the company's stakeholders (partners, suppliers, customers, society in general, etc.).
- Incorporate new capacities to reach new markets and/or products.
- Reduce time in problem solving through the application of agile methodologies.
It encourages an open innovation system that is in line with the current trend of Open Innovation. Through it, companies seek innovation and talent, both inside and outside their organisations:
Internal Corporate Venturing
When the tools and resources used by the company to develop its innovation arise from the organisation itselfThe company's own R&D departments or the creation of its own technology start-ups.
External Corporate Venturing
When the company requests external collaboration accelerators to locate the best startups and integrate them into their innovation processes.
Corporate Venturing Tools
Corporate Venturing tools to boost innovation in companies :
Intensive working day sessions in which a business problem is presented to a group of about 50 participants, who are grouped together to find the best solution.
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CHALLENGES FOR EMPLOYEES
The entrepreneurial challenge is announced amongst a group of participants through a digital platform to find a solution to the problem.. These groups can be made up of companies, individuals, research groups, etc.
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INCUBATION OF IDEAS
The company generates a process of selecting ideas for the subsequent validation of the business model (+), providing mentors and physical workspaces.
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PARTNERSHIP
Strategic agreements between the startup and the company to share resources and transfer knowledge.
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VENTURE CAPITAL
Creation of a Society of Venture Capital (+) owned by the company and with the ability to invest capital in exchange for equity from startups with validated business models.
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ACQUISITION OF STARTUPS (+)
Search for startups that meet certain technology, maturity and equipment criteria.
To take advantage of the benefits of corporate venture, we recommend that you participate in one of the following acceleration weeks (see+) we organise. Each month we focus on a different vertical where we provoke the Networking (see+) between challenged companies and innovative start-ups in the sector.
ChatGPT can provide various forms of corporate venture support:
- Idea generation: ChatGPT can help generate innovative and creative ideas that align with corporate venture objectives. You can interact with the model and pose specific challenges, and he will provide suggestions and solutions based on his previous training on a wide range of topics.
- Data analysis: ChatGPT can assist in analysing corporate venture related data. You can provide him with relevant data and metrics, and he can help you extract information and gain insights to make informed decisions regarding investments, identification of promising startups, evaluation of results, among others.
- Research and search for start-ups: ChatGPT can assist in researching and finding startups that fit the corporate venture criteria. You can provide him with information about the type of startups you are looking for, and he will give you recommendations and suggestions based on his prior knowledge.
- Advice on strategies: ChatGPT can provide advice on corporate venture strategies. You can ask questions on how to optimise your collaboration processes with startups, how to establish strategic alliances, how to assess growth potential, among other key aspects.
- Risk and opportunity analysis: ChatGPT can assist in the analysis of risks and opportunities associated with the corporate venture. You can present him with what-if scenarios and he can provide insight based on his previous training and general knowledge.
It is important to note that ChatGPT is a language-based tool and does not replace human experience and judgement. It is always advisable to combine the information provided by ChatGPT with the analysis and critical evaluation of corporate venture professionals.
APPLY THIS TIP TO YOUR PROJECT
TASK
CASE STUDY
Name of entrepreneur: John
Profile of the entrepreneur: Juan is the founder of a technology startup that develops innovative solutions in the urban mobility sector. He has managed to launch a successful product on the market, but is now looking to accelerate his company and take it to the next level by implementing corporate venture.
Current situation: Juan has identified that his startup needs access to new technologies, talent and business models to continue innovating and growing. He is also aware that he needs to establish strategic alliances and improve the visibility of his brand to attract the attention of potential investors and partners.
Entrepreneurial objectives: Juan's main objective is to accelerate the growth of his company and to expand nationally and internationally.
WANTS TO USE THE CORPORATE VENTURE TO GAIN THE FOLLOWING ADVANTAGES:
- Access new technologies and business models to continue innovating in the urban mobility sector.
- Renew the corporate culture of your company, fostering a more entrepreneurial environment that is closer to entrepreneurs.
- To attract new, highly skilled talent in the field of technology and innovation.
- Develop a more attractive and recognised brand in the market, building trust among investors, customers and potential partners.
- Establish strategic alliances with large companies that can provide resources, knowledge and growth opportunities.
ACTION PLAN
- Identification of corporate partners: Juan researches and analyses large companies in the urban mobility sector that have a focus on innovation and entrepreneurship. He looks for companies with established corporate venture programmes that can be strategic allies for his startup.
- Presentation and networking: Juan participates in events and conferences related to innovation and corporate entrepreneurship, where he has the opportunity to present his startup and establish contacts with representatives of companies identified as potential partners.
- Value proposition: Juan develops a clear and attractive value proposition for the companies he wants to collaborate with. He highlights the mutual benefits of collaboration, such as access to technology and talent, joint growth opportunities and driving innovation in the sector.
- Meetings and negotiations: Juan organises meetings with companies interested in his proposed collaboration. During these meetings, he presents in detail his product, the synergy opportunities and the benefits that his startup can bring to the company's corporate venture.
- Establishment of strategic alliances: Juan enters into partnerships with one or more companies, establishing strategic alliances that allow for the sharing of knowledge, resources and growth opportunities. These alliances provide access to new technologies, potential investors, expanded distribution channels and increased market visibility.
- Monitoring and evaluation: Juan constantly monitors the progress of strategic partnerships, assessing their impact on his company's growth. He makes adjustments and improvements to the partnership as necessary to maximise benefits. obtained.
Result: Thanks to the corporate venture, Juan is able to accelerate the growth of his urban mobility startup. Collaboration with large companies gives him access to innovative technologies, specialised talent and new business opportunities.
In addition, partnering with these companies strengthens your brand, gives you visibility in the market and facilitates access to potential investors and partners. Overall, these actions drive the success and expansion of your company in the urban mobility sector.
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