8 points to consider when venturing a company

Rempel Podcast

1) The experience of others will help you with your own partnering activities. Search for best-practice examples and find out which methods the corporates used to find suitable start-ups and also worked successfully with them.2) Your corporate venturing strategy must fit your corporate strategy and thus also your innovation strategy. Do not consider an investment in a startup merely as a potentially lucrative investment. Many of your own assets, such as business contacts, market access, industrial and production know-how, etc., with which you can support a startup, remain unused. 3) When partnering with startups, you should make your decisions quickly to protect your chances. This prevents one of your competitors from snatching a promising cooperation partner from under your nose. 4) Working with a startup should not only be worthwhile for your company. Both partners must benefit from the cooperation, otherwise it will not last long. 5) Corporate venturing naturally involves risks; a partnership or the technology or business model of a start-up can also fail. Prepare your own company for such a case. You can achieve this, for example, through an innovation culture of failure. 6) There must be a commitment at the highest management level to work with start-ups. Even if you have a small budget, such affiliate programs cannot run under "distant". Because several departments of your company are always involved in a successful cooperation. Corporate venturing is also a very high-profile area. 7) Stand by your decision even in case of difficulties. The Austrian business angel Hansi Hansmann has proven that patience can pay off with his commitment to mySugr. He alone financed the startup, which developed a diabetes app, for two and a half years. Finally, a lucrative exit was made and the company became part of the Swiss pharmaceutical group Roche. 8) Make sure that both partners learn as much as possible from each other. Corporates benefit not only from the technology or solution that startups have developed. You can also learn something from the founding teams when it comes to error culture, spirit and agility. Conversely, start-ups need support in many areas, such as sales, marketing, market access, industrial scale manufacturing, etc. --- Support this podcast: https://podcasters.spotify.com/pod/show/maryam-rempel/support