Here is why you need to consider Corporate Venturing for your organisation.
Since the launch of the corporate venturing book we’ve sold copies in many different countries. We’re proud to announce that we’re going into a 3rd printing! A year later, corporate venturing is still highly relevant and a top priority for all companies who wish to stay on top of their game.
We probably don’t have to convince you that the world is changing faster than ever. That technology is evolving exponentially, and that consumer behavior and economic markets are radically changing as a result.
We’re clearly up for a challenge in our companies. Many organizations are falling behind the rapidly changing customer, market and technology landscape. As a result, their business models are being challenged by the new players on the block.
To prevail in this new world you need a faster clock speed than the market. Unfortunately most companies are behind the curve. And we all know it won’t slow down from here; on the contrary, it will continue to accelerate.
You need a faster clock speed than the market.
Having the opportunity of working with a lot of different organizations, we believe that Corporate Venturing can help you to move faster, together. But a big question for a lot of companies is how to start with it. So first things first.
From one big boat to a fleet
Accelerate growth through collaboration with startups
When it comes to agility, startups have an edge over corporations – whereas large corporations sit on resources which startups can only dream of. The combination of entrepreneurial activity with corporate capabilities seems like a perfect match, but can be elusive to achieve.
TWO FORMS OF CORPORATE VENTURING
There are generally two main forms of Corporate Venturing:
- Venture building: launching your own speedboats (startups) out of the mother-ship – ‘inside out’
- Venture sourcing: scouting and setting up collaborations with existing startups on the market – ‘outside-in’
‘While we believe in an AND/AND model where you combine the power of both approaches, we’re convinced that in a world where agility is the name of the game, external collaborations (‘venture sourcing’) need to be a factor 10 compared to the internal venture building.
Imagine you have 1 million USD to invest (as a ‘total cost of ownership’) in a concrete case, it’s better to invest the money, spread over 10 different collaborations with outside players, than betting the whole budget on 1 single internal venture.
You simply cannot have all the knowledge, speed, skills internally to build the future all by yourself. A small bets strategy with a potential uplift (aka double dip) for successful ventures will have a higher chance of success statistically.
Success story – Chalhoub Greenhouse
In 2017, we started helping the Chalhoub Group, a leading luxury retailer in the Middle East in their digital transformation. One of the ideas that came out of our collaboration was to collaborate with external startups, in order to move the needle much faster.
Only one year later, the Greenhouse was launched!
We sat down with Dina Sidani, Head of the Greenhouse to better understand how Chalhoub Group is using corporate venturing to foster innovation in the Group.
Watch the full interview with Dina Sidani here:
What people say about our book
The Corporate Venturing book is really spot on. Excellent work done, reflects very much our Wärtsilä Venturing model and way of working as a venture client, thereby the book could support us to train our organisation on what corporate venturing is all about. Good things going on in Belgium on innovation!
Director, Digital Ventures, Wärtsilä
The book Corporate Venturing (by Van Peteghem & Mohout) is an absolute inspiration to read, especially if you know about the challenges of big established companies trying to innovate on their own. The book is well written, and has three sections that make total sense: Why, How and What. It clarifies the concept of innovation and growth through collaboration, and by doing so, also why ‘traditional’ approaches are not future proof. Each section is practical and pragmatic – you can immediately imagine!
Owner, Campfens Management
We made it to Wikipedia!
Our definition of Corporate Venturing has been approved and is being used on Wikipedia! Check it out in the biggest online encyclopedia in the world here.
Corporate Venturing Book
The book of Dado Van Peteghem (from Duval Union Consulting) and Omar Mohout (Sirris) provides insights into different strategies and tactics to accelerate innovation and growth through collaboration, as well as plenty of cases as examples where these methods are successfully applied. It’s a no-nonsense, ready-to-apply comprehensive guide for creating and reviewing your corporate venturing strategy as a strategic instrument to thrive in this fast changing world.
The book will provide guidance, insights, perspective and inspiration for anyone that has an interest in corporate venturing as a strategy to accelerate growth. Whether you are a large corporate or an upcoming player in the market.
About Duval Union Consulting
We are new-style management consultants focusing on transforming and growing organizations in a digital-first world with offices in Europe and the Middle East. New-style? Co-created business strategy, custom-made transformation trajectories and actual experienced business advisors are only some of our differentiators and why clients love to work with us. We design the future of your business together.