Presented at the IBF CVIP conference Feb 11-13. I'm proposing a "Corporate Venturing Agility Manifesto' --- identifying 6 Points: challenges that corporate venture executives face in building venturing programs, Includes numerous examples based on research with more than 50 corporate venture executives. Looking for input and examples of my 6 Points, Note - this preso has been anonymized, specific company names no longer cited

1. KEEPING THE (AD)VENTURE IN CORPORATE VENTURING
A CORPORATE VENTURING AGILITY MANIFESTO V1.0
Patty Burke, Partner
Pre-Conference Workshop, February 11, 2013

2. AGENDA
 Corporate Venturing – Who are we?
 Why Does CV matter, Why now?
 A Manifesto – 6 Guideposts on the (Ad)Venture
 Input, please!

3. AUDIENCE PROFILE?
 CVC?
 Incubation?
 Partnering?
 Other?
 Age of unit?

4. MODELS OF CORPORATE VENTURING
© 2013 Bell Mason Group Page 4

5. WHY
CORPORATE
VENTURING
NOW?
Source: www.corporateventureagility.com

6. SLOWING REVENUE, AVAILABLE CASH

7. STRONG
GROWTH
TRAJECTORY

8. GLOBAL
INNOVATION
AND IP

9. GROWING
DEAL
PARTICIPATION

10. THE CORPORATE (AD)VENTURER’S CHALLENGE:
“YOU’RE BLOCKING MY LANE”
2/15/2013 10

11. TRAFFIC CONES REPURPOSED:
THE VENTURE AGILITY CHALLENGE

12. AGILITY IN ACTION

13. LESSONS FROM AGILE DEVELOPMENT MANIFESTO
. . . Uncovering better ways
of developing software by
doing it and helping others
do it. . .
 Individuals and interactions
 Over processes and tools
 Working software
 Over comprehensive
documentation
 Customer collaboration
 Over contract negotiation
 Responding to change
 Over following a plan

14. A CORPORATE (AD)VENTURER’S MANIFESTO?
MANIFESTO DEFINED
Public declaration of the
intentions, motives, or views of the
issuer, be it an individual, group, political
party or government; it promotes a new
idea with prescriptive notions for carrying
out changes

15. THE CORPORATE VENTURER’S AGILITY MANIFESTO
1. Drive for Velocity and Iteration
2. ‘Just Enough’. . . Data, Funding, Governance
3. Nurture Customers and Champions
4 . Access Your Assets
5. Triage and Tune the Team
6. Measure and Report

16. 1. VELOCITY AND ITERATION
 ‘Venture
velocity’, venture clock
rate
 Streamlining corporate
process
 Loops not linear
 Permission to take
shortcuts

17. THE CV’S WORLD: ANTI-VELOCITY DEFINED!

18. AGILITY AND VELOCITY: 2 STORIES
 Cleantech Company
 Investment strategy iteration
 Financial Services Company
 Deal qualification, approval criteria

19. 2. PRACTICE THE “JUST ENOUGH” PRINCIPLE
JED: Data Redefining the ‘gut’ decision
JEF: Funding Milestone-based
JEG: Governance Strategy / process discipline

20. 3. CUSTOMERS AND CHAMPIONS
 Customer-driven
approach, continuous
input
 Global
ecosystems, internal/ext
ernal
 Expanding the virtual
investment team
 Managing NIH
© 2011 The Bell Mason Group 20

21. “GET EYES AND EARS ON IT”: USING CHAMPIONS
 Company Examples:
 Network Equipment
 Biotech and Materials
 Financial Services
 Texas Instruments –
using champions to
get strategy buy-in

22. TI – 2-WAY COMMUNICATION

23. 4. ACCESS YOUR ASSETS:
WHAT CVCs BRING TO THE PARTY
 Partner and customer
insight, relationships
 Prototyping, piloting, integr
ation expertise
 Scientific and engineering
collaboration
 Commercial relationship =
revenue stream
 Credibility for customers
and investors
 Exit!

24. 5. TRIAGE AND TUNE THE TEAM
Internal Entrepreneur
 Broad
background, customer/co
mmercial focus
 Change driver, decisive
 Input, but not consensus
 Passion, commitment
leadership
 No Dabblers!

25. 5. TRIAGE AND TUNE THE TEAM
CVC Team – The right recipe
 1 cup corporate strategy
 1 cup ex-VC
 1 cup engineering, science
 1 cup product management
 1 cup entrepreneur
(acquired?)
 Dash of finance, legal, BU
for flavor

26. 6. MEASURE AND REPORT – EVEN THE FAILURES
 Strategic and financial
metrics
 Reporting
consistency, layered data
 Failure ‘education’ -
harvest data and
learnings

27. BELL MASON FRAMEWORK FOR CV&I UNIT DEVELOPMENT
• Corporate innovation • Team, plan and • Portfolio balancing and • •Refined strategy and
priorities, leverage milestones management plan
points • Funding and • Investment • Performance
• Strategic focus areas governance management, venture management—
• Venturing and • Deal management KPIs venture, portfolio, unit
investment approaches • Launch and “pilot” • Exit and “embedding” metrics
process • Unit funding
• Venturing career path commitment
• Operating process
automation
© 2013 Bell Mason Group Page 27

28. NAVIGATING THE OBSTACLES, WITH AGILITY

29. CORPORATE VENTURING AGILITY MANIFESTO V1.0
INPUT PLEASE!
1. Drive for Velocity and Iteration
2. ‘Just Enough’. . . Data, Funding, Governance
3. Nurture Customers and Champions
4 . Access Your Assets
5. Triage and Tune the Team
6. Measure and Report
Feedback: Linked In: www.linkedin.com/in/pattyburke
Twitter: @venturepatty
email: patty@bellmasongroup.com

30. THANK YOU!