Corporate Venturing (CV) and Corporate Venturing Capital (CVC)
In recent years, rapid disruption led many corporates to develop and setup their own corporate venturing strategy and activities. While in the 90's and 2000's it was predominantly technology companies that engaged in active Corporate Venturing, now the need has spread to market leaders in all industries. At a time when every company need to be a technology company, Corporate Venturing becomes a necessity. It is a strategic tool that requires a specific focus and expertise that often not resides internally.
Corporate Venturing can be regarded as a set of activities aim to discover and implement innovation. It is highly strategic and while often setup as a seperate group, it needs to be closely alined with the mother company and its various business units.
Typically Corporate Venturing may include:
Internal/external innovation challenges,
Accelerator and incubation programs,
Corporate Venture Capital (CVC),
Merger and Acquisition (M&A)
For Corporate Venturing to be successful it needs to evolve around the corporate specific challenges and unique culture. There need to be clear objectives and definition of scope. Often a the CV leader need to be brought in from the outside and the right mix of talent be assembled.
The CV unit need to be independence while fostering collaboration with the company business units. Being lean, agile with relevant governance while ensuring consistent financing.
Consideration in setting up a new CVC unit include; strategic Vs financial, fund size, compensation & remuneration, relationships with internal R&D, P&L constrain and more.
Acceleration and Incubation Programs
Implementing Corporate Venturing may take several years as it involves the gradual role out of several programs while closely evaluating their strategic and financial outcomes. It often includes engagement of external consultants and operators to help setup and connect with the startup and innovation ecosystem.
The testing and development of new ideas is paramount and can be done internally, externally or in combination. Challenging employees to contribute and getting them involved while providing external methods and skills can speed up successful discovery and implementation of new ideas. While there are various external providers of corporate innovation programs a special attention need to be given to the selection and customisation of these programs.
With over 20 years of experience in setting up programs for the likes of Intel Corporation (Best Effort Program), serving in senior positions at ATP Innovation (Cicada Innovation), and being the EIR at muru-D (Telstra), we can advice, setup and run successful programs that fit your strategic needs.
Startup Scouting and Investments
Sigma Ventures Managing Director Eitan Bienstock has been part of a number of Venture Capital funds in Israel, the US and Australia including Intel Capital (Tel Aviv/Santa Clara), Artesian Capital (Sydney) and Propellor Capital (San Francisco). He also have supported and raised funds for over half a dozen startups including Change.org (funded by Bill Gates, Richard Branson, Jack Dorsey and Reid Hoffman), Nova Measuring Instrument (IPO'd on NASDAQ as NVMI), Crowd Mobile (IPO's on ASX).
Our current portfolio includes: Propellor Aero, Ingogo, Fame & Partners, Instcluster and A-Kin (Personal AI).
We produce and manage variety of events bringing together key stakeholders in the technology space with the purpose to propel innovation. Our ground breaking Everything IoT series of events have sparked innovation in Australia by providing focus, global perspective and multinational involvement for the Internet of Things. We created and produced over 160 videos and publications sharing the knowledge with the greater community.
Everything IoT brought together thousands of IoT enthusiasts from startups, corporate, academia and government and featured over 50 startups and entrepreneurial teams in multiple startup competitions and hackathons. Support for Everything IoT came from federal and local governments and global leaders and organisations such as: Intel, Cisco, Amazon Web Services, Microsoft, Telstra, KPMG, Commonwealth Bank, Bosch, Data61/CSIRO, University Technology Sydney.
We present and teach Corporate Venturing, Venture Capital Investment, Fund Raising and Entrepreneurship. Workshops and masterclasses are available to academia and industry. Some of our past presentations were given in Sydney University, University Technology Sydney and Macquarie University and Telstra's accelerator (muru-D).