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For personal use only ‐ don't copy SMB Dec 14th, 2017
© The Effectual Catalyst 1
SMB 14 December 2017 1
‘David and Goliath’ a successful startup/corporate collaboration
Corina Kuiper14 December 2017
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SMB 14 December 2017 2
Two different worlds that need to work together
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SMB 14 December 2017 3
Why collaborate?
Corporates
• Accelerate innovation
• Access to new innovations
• New technologies and business models
• New competences
• Market knowledge
• Entrepreneurial culture
Startups
• Access to marketplace
• Knowledge and resources
• Acceleration (scaling up)
• New competences
• Credibility
• Funding
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SMB 14 December 2017 4© The Effectual Catalyst
For personal use only ‐ don't copy SMB Dec 14th, 2017
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SMB 14 December 2017 5
Ready to Team Up ‐ Background
ChallengeMost fast‐growing businesses are established through collaboration between startups and existing organisations. But what are the main challenges they have to face? What steps need to be taken to be successful in this collaboration?
COSTA: ‘collaboration between COrporates & STArtups’, During one year Dutch Industry leaders shared lessons learned and discussed how to bring about a lasting improvement in the collaboration between corporates and startups.
Ready to Team Up ToolBased on output of Costa, interviews with startups and research, Rotterdam School of Managemen/ECE and Corporate Venturing Network developed the tool
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For personal use only ‐ don't copy SMB Dec 14th, 2017
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SMB 14 December 2017 7
Launch May 30th, 2017 Launch November 16th, 2017
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Answer 30
questions
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My results
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Get inspired by others
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www.readytoteamup.comCorporates, start your
benchmark
Startups, start your benchmark
WWW.READYTOTEAMUP.COM
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THE FIVE LEVELS OF CORPORATE ENTREPRENEURSHIP
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The Five levels of Corporate Entrepreneurship
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Title
Text
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WHY ECOSYSTEM: Isolated innovations don’t exist anymore
SMB 14 December 2017 16
WHY: All about broadening your perspective
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SMB 14 December 2017 17
Ecosystem
Ron Adner, The Wide lens, 2012
Minimum Viable Ecosystem (MVE) the smallest configuration of elements that can be brought together and still create unique commercial value
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SMB 14 December 2017 18
Co‐innovation risk
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“What are the hurdles facing the other innovations that must come about for my project to succeed?
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Adoption chain risk: Broken Lines
• Risks can be managed pro-actively, but only if it is recognized in advance• What people say ≠ What people do (the resistance to chance)• It also applicable within your own company
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Ron Adner, The Wide lens, 2012
SMB 14 December 2017 20
Adoption chain risk: Broken Lines
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SMB 14 December 2017 21
The Five levels of Corporate Entrepreneurship
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SMB 14 December 2017 22© The Effectual Catalyst
Organization: making choices
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SMB 14 December 2017 23
Strategic choices: Innovation Themes
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SMB 14 December 2017 24
strategic choice: Scope of Venturing
FinancialSupportexisting
businesses
Add tothe portfolio
Type ofAmbition
Main Resources
Outside Core
Within Core
Both insideand outside
Core
Eco‐system
Venturing
Venture Innovation
Corporate Private Equity
Venture Harvesting
New Leg ‘Fishing’
Note:Types with a grey background are not normally recommended
Size of circle does not represent frequency or impact. It shows which boxes are covered by the type
Source: Ashridge Strategic Management Centre, 2003© The Effectual Catalyst
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SMB 14 December 2017 25
Senior Excutive Team
Forget,Borrow& Learn
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Organization
SMB 14 December 2017 26
Culture: Shift from ‘cookbook’ to ‘controlled experiment’
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SMB 14 December 2017 27
The Five levels of Corporate Entrepreneurship
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Example of (corporate) venturing instruments
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Many different instruments
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.. But you don’t want one hand clapping
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ONLY EXTERNAL VENTURING
ONLY INTERNAL VENTURING
NEED BOTH EXTERNAL AND INTERNAL VENTURING
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SMB 14 December 2017 33
The Five levels of Corporate Entrepreneurship
SMB 14 December 2017 34
You need a framework
External view
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A Staged Process for Successful Venture Development
Each phase has its own specific characteristics and therefore requires a different way of working, organization set‐up, culture/mindset and
performance indicators
Time
5. MarketCalibration
4. Beta3. Alpha2. Seed1. Pre ‐seed
Expanding 5. MarketCalibration
4. Beta3. Alpha2. Seed1. Pre‐Seed SteadyState
Decline Ideation
Venture phaseBusiness Creation
Researchphase
Established businessBusiness
Management/Operations
Maturity level
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SMB 14 December 2017 36
The danger of not recognizing the teenager
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SMB 14 December 2017 37
The Five levels of Corporate Entrepreneurship
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SMB 14 December 2017 38
People ‐ Entrepreneur
Intrapreneur = Entrepreneur who is able to work in a corporate environment
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SMB 14 December 2017 39
Effectuation principles
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Corporate‐startup: you need each other
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To the extent I can predict the future, I can control it.
To the extent I can co-createthe future, I don’t need to
predict it.© The Effectual Catalyst
SMB 14 December 2017 42© The Effectual Catalyst
If you want to know more?