Top 10 Corporate Venturing Success Cases – Explained Simply
Corporate venturing (CV) is when large companies collaborate with start-ups to drive innovation. However, many organizations struggle with barriers such as rigid corporate structures, resistance to change, and difficulty integrating new ideas. This summary presents 10 real-world examples of how companies tackled common challenges in corporate venturing, what solutions they applied, and the results they achieved.
1. Tracking International Opportunities – TelecoRadar (Telecommunications Industry)
Problem:
A major telecom company struggled to find and connect with innovative start-ups outside its home country. Since its corporate venturing team was based at headquarters, it had limited access to global innovation hubs. This meant the company was missing out on fresh ideas emerging elsewhere.
Solution:
The company established small "scouting outposts" in various innovation hubs worldwide, particularly in regions with strong universities and tech talent. These outposts consisted of 1–3 employees who actively engaged with local start-ups and entrepreneurs.
Results:
This strategy significantly increased the number of innovative start-ups in the company’s pipeline, giving them access to international opportunities that they had previously overlooked.
2. Enhancing Collaboration Between Business and Innovation Units – GoWind (Energy Industry)
Problem:
GoWind’s corporate venturing team proposed many innovative ideas, but business units frequently rejected them, seeing them as irrelevant or risky. There was little incentive for business managers to invest time or resources into these new projects.
Solution:
The company changed its funding model so that the costs of proof-of-concept (POC) projects were shared equally between the corporate parent, the innovation team, and business units. This ensured that business managers had "skin in the game" and a vested interest in the projects’ success.
Results:
With shared financial responsibility, business units became more engaged and willing to collaborate with the corporate venturing team, leading to a greater impact of innovation across the company.
3. Gaining CEO Buy-in for Corporate Venturing – GreenEnergy (Energy Industry)
Problem:
The corporate venturing unit of GreenEnergy felt like an isolated “pet project” of the CEO, with little influence on the broader organization. It was struggling to gain support from other departments, limiting its ability to implement new ideas.
Solution:
The team actively worked to demonstrate their financial sustainability and strategic value to the company. They also secured the backing of key executive committee members, ensuring that innovation projects aligned with overall business objectives.
Results:
By gaining executive buy-in, the venturing team was able to integrate its initiatives more effectively into the company’s core operations, speeding up decision-making and increasing the implementation of new ideas.
4. Overcoming Traditional Corporate Mindsets – FoodPro (Food Industry)
Problem:
FoodPro had a conservative corporate culture that relied on traditional KPIs, long planning cycles, and large budgets. The company struggled to adapt to the faster, more agile approach required for start-up collaboration.
Solution:
An internal executive committee sponsor was identified to advocate for the innovation team. External experts were also brought in to educate executives on modern start-up methodologies like lean and agile development.
Results:
This cultural shift helped FoodPro’s leadership become more flexible and open to innovation. The CEO became an active supporter of corporate venturing, and the company was able to move faster in testing and adopting new ideas.
5. Attracting Top-Tier Start-ups – Telefónica (Telecommunications Industry)
Problem:
As corporate venturing became more popular, Telefónica faced increased competition from other companies trying to attract high-quality start-ups. Start-ups had more choices and were not as eager to work with Telefónica.
Solution:
The company formed alliances with other corporations in different industries (e.g., banking, automotive, energy) to create joint start-up challenges. This increased the overall value proposition for participating start-ups.
Results:
The initiative made Telefónica’s corporate venturing program much more attractive, increasing the number of high-potential start-ups interested in collaborating with them.
6. Leveraging Universities for Innovation – Siemens (Technology Industry)
Problem:
Siemens’ corporate venturing unit found that traditional start-up scouting methods were not uncovering the right solutions for their toughest technological challenges.
Solution:
Instead of focusing solely on start-ups from the industry, Siemens expanded its search to universities and research institutions. They also combined their corporate venturing program with technology transfer initiatives to commercialize promising academic projects.
Results:
This approach led to the successful development of 13 new products or product lines that originated from university research.
7. Outsourcing Start-up Acceleration – MediaGrow (Media Industry)
Problem:
MediaGrow wanted to run a start-up accelerator but lacked the internal expertise to do so effectively.
Solution:
The company partnered with TechStars, an external accelerator, to manage the program. TechStars handled mentorship, networking, and investment preparation for participating start-ups.
Results:
More start-ups applied to MediaGrow’s corporate accelerator, and the company gained valuable experience in supporting start-up growth while improving its reputation in the innovation ecosystem.
8. Expanding Adoption of New Products – SAP (Software Industry)
Problem:
SAP launched a new software product (HANA) but struggled to get companies to adopt it. Without early users, it was difficult to build momentum and prove the product’s value.
Solution:
SAP created a corporate accelerator where participating start-ups were required to use SAP’s new platform. This ensured a steady flow of early adopters and use cases.
Results:
In just two years, the number of companies using SAP’s new platform grew from 10 to over 1,500.
9. Detecting Market Trends for Business Units – FutureCars (Machinery Industry)
Problem:
FutureCars’ corporate venture capital (CVC) team struggled to get business units interested in collaborating on innovation. Business managers did not see the relevance of the start-ups in which the company was investing.
Solution:
The CVC team repositioned itself as a "trend detector," providing business units with valuable insights on emerging market shifts and disruptive technologies.
Results:
Business units began to appreciate the insights provided by the CVC team and became more open to collaborating on innovation initiatives.
10. Resolving Conflicts of Interest in Corporate Venture Capital – SkyBuildings (Infrastructure Industry)
Problem:
When SkyBuildings’ parent company invested in a start-up, conflicts arose between different stakeholders. The CEO wanted to acquire start-ups at the lowest price, while the CVC manager wanted higher valuations, and the start-up founders wanted the best deal for themselves.
Solution:
The company implemented a structured, transparent investment process that separated the roles of identifying start-ups, managing partnerships, and negotiating acquisitions.
Results:
This clear separation of responsibilities reduced conflicts of interest and led to better decision-making in start-up investments and acquisitions.
Source: IESE Business School
