Corporate venturing – the collaborative framework between established corporations and innovative start-ups – continues emerging at speed (a recent 42% increase in some cases). Prestigious companies such as AT&T, Schneider Electric, Intel, Siemens, Qualcomm, Xerox, GE, IBM, Lucent, Cisco, Samsung, Comcast, Henkel, Wells Fargo and Merck are collaborating through many mechanisms such as venture clients, venture builders, scouting missions, challenges prizes, corporate accelerators, and more.
Firms’ chief innovation officers look for data to feed their decisions with evidences in this field. How much time is required to integrate opportunities’ value in the parent company through each corporate venturing mechanism? How to increase that speed? Are they different by mechanism? What are the quicker mechanisms? How much time should I wait before killing the collaboration with a start-up? These are data that they usually don’t have because of the novelty of the concept and the lack of historical data.
Based on 120+ interviews with firms’ chief innovation officers (and those in related roles) in the United States, Europe and Asia – the new study “Open Innovation: Increasing Your Corporate Venturing Speed While Reducing the Cost” covers those answers.
About the Authors
(left to right)
Mª Julia Prats, IESE Business School Professor Josemaria Siota IESE Business School Director of Research (EIC), Celeste Saccomano IESE Business School Researcher, Isabel Martinez-Monche, BeRepublic Managing Director (Business Strategy), Yair Martinez BeRepublic Digital Business Strategist.