Strategy Development

Opportunity Assessment wheel In the Strategy Development phase we work with key client stakeholders to identify the specific areas of technology focus for the firm’s Corporate Venture Capital (CVC) program and to determine how innovations in those areas will be employed to advance strategic priorities.

Activities include:

  • Determining which of the firm’s strategic priorities can best be advanced through innovation
  • Identifying relevant internal technology groups and business units (a/k/a ‘capabilities groups’) which can drive those priorities
  • Identifying which specific needs within those groups are most appropriate for interaction with external innovators (‘Gapportunities’)
  • Prioritizing 'Gapportunities' relative to external innovation activity

Strategy Development is executed in close collaboration with internal groups such R&D, Product Development, Engineering, Technology Implementation, and Marketing. This structured process engages internal partners, and begins to familiarize them to the potential benefits to be gained from, and best practices for succeeding in working with, external innovators.

A Strategy Development project generates three major deliverables:

  • A set of TechBriefs™ which describe the state of each capabilities group with respect to innovation needs and opportunities.
  • A list of 'Gapportunities' which may be filled through partnership with portfolio companies
  • An articulated strategy for the CVC initiative focused on the concrete benefits of a CVC program and what the firm would have to do to be successful.
  • A range for the size of the fund

The ultimate goal of Strategy Development is to provide senior management decision-makers with all of the information they need to determine what the firm can accomplish as a CVC player, and the requisite best practices to be successful over the long term. With its completion, senior management will have a sufficiently clear picture of the relevance of the initiative to decide to commit to the effort and expense of forming the program.

Decision-point: go/no on launching a corporate venture capital program.

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