Corporates, Startups and Venture Capital join forces during the CVNN Meeting
More than 50 different corporates, startups and venture capitalist shared their learnings on corporate venturing during the CVNN meeting at Erasmus Centre of Entrepreneurship on December 11th. The meeting was organized by Corporate Venturing Network Netherlands (CVNN), Erasmus Centre of Entrepreneurship (ECE) and Volta Ventures. Besides some key note speakers, the core of the program consists of interactive workshops and networking.
Professor Justin Jansen (Professor of Corporate Entrepreneurship at RSM) presented the latest insights on Corporate Entrepreneurship and Ambidexterity. He showed that the impact of entrepreneurship on the performance of organizations has doubled during the last years and it has become the differentiator between the winning and losing companies. To become startup-ready as a corporate you need to be able to borrow and forget at the same time, combing the best of both worlds.
Corina Kuiper, co-author of the book “Corporate Venturing, managing the innovation family in a dynamic world” and coordinator of CVNN provided an on overview of the different types of Corporate Venturing. According to her Corporate Venturing is not limited to taking an equity stake in a startup. Corporate Venturing are all of the entrepreneurial activities aimed at setting up new businesses within or in close co-operation with a large corporate organization. Corporates that are successful in Corporate Venturing use a combination of internal – as well as external venturing instruments. Corina stated that a new wave of Corporate Venturing is emerging: Co-creating Ecosystems. Corporates and start-ups need each other to create their future.
One of the key critical success factors of Corporate Venturing is portfolio management. Ferdinand Jaspers, Programme Director at ECE, showed how to identify the identify growth-opportunities and how to map them.
Finally Filip Vandamme, managing partner of Volta Ventures elaborated on the differences between Corporate Venture Capital and Ventrure Capital. Het stated that by joining forces additional benefits can be generated for all parties involved.
The afternoon was dedicated to workshops. The participants debated about Portfolio management, VC versus Corporate VC and Deal Sourcing. The discussion showed clearly that combining forces is the way to go.
The last part of the meeting was dedicated to “Getting in the ring”. Tys van Elk (OCE-CANON) and Berry Kriesels (Omnigen) pitched why corporates and start-ups should work together.
This CVNN meeting demonstrated that corporates, start-ups and venture capital have all unique capabilities and combining forces will result in new successful businesses. Cooperation between startups and corporates will accelerate growth.
Corporate Venturing Network Netherlands (CVNN) is a successful network of corporations active in corporate venturing and open innovation. More information can be found on www.cvnn.eu