GELLIFY releases international study in which 21 innovation experts share advice on corporate venturing

The perfect recipe for Corporate Entrepreneurship by GELLIFY

The perfect recipe for Corporate Entrepreneurship by GELLIFY

Pedro Irujo, Managing Director GELLIFY and Corporate Venturing Expert

Pedro Irujo, Managing Director GELLIFY and Corporate Venturing Expert

Sandro Bacan, Accenture Innovation Lead Italy, Greece and Central Europe

Sandro Bacan, Accenture Innovation Lead Italy, Greece and Central Europe

The report “The 4W’s of Corporate Venturing” results from a qualitative survey with innovation experts from 18 major companies in Europe and the UAE.

MILANO, MILANO, ITALIA, September 9, 2021 /EINPresswire.com/ — GELLIFY, a B2B innovation platform that selects, invests in, and grows innovative and high-tech startups and connects them to established companies to innovate their processes, products, and business models, is proud to announce the release of “The 4W’s of Corporate Venturing,” a new report highlighting the results of video interviews and qualitative questionnaires with 21 corporate venturing experts, innovation managers, and managers with equivalent roles from well-established companies in Italy, Switzerland, Spain, and the United Arab Emirates operating on a European and global scale.

This new qualitative analysis represents an updated overview based on real experiences of how market-leading companies in different industries (79% of which have more than 1,000 employees) are developing initiatives that are enabling them to achieve their strategic objectives, promote an agile approach to processes, and work towards a culture of innovation inspired by the world of startups.

78% of the companies involved in the research have experience with a venturing business unit ranging from two to five years; 14% have been in operation for one year or less; and 7% have been in operation for 6-10 years.

Italy is also represented in the results through the contribution of Italian chief innovation officers and heads of investment/M&A from different sectors, including the chemical-pharmaceutical sector with the Sapio Group, the insurance industry with Reale Mutua, and the retail sector with Camst International, who shared answers based on their experience as managers in established companies operating internationally.

The managers of the different business functions who contributed from Switzerland, Spain, and the United Arab Emirates work in the following industries: services (including telecommunications), energy, manufacturing, banking, and insurance.

The qualitative survey and the production of the report by GELLIFY were made possible thanks to their main partner, Accenture Italia, the law firm Gianni & Origoni, Kaspersky Innovation Hub, and the tax consulting firm Studio Pirola Pennuto Zei & Associati.

“The Why.” Why corporate venturing?
The main reason why the companies interviewed by GELLIFY have decided to activate a corporate venturing unit is linked to the objective of creating a culture of innovation internally, which also turns out to be the main reason for the success of the programs mentioned by the executives interviewed.

“The What.” Which type of venturing should you do? What kind of resources should you dedicate to internal or external startups? What are the elements that prevent the success of these initiatives?
There is no single rule as to what type of corporate venturing strategy you should adopt. The answers provided by the companies surveyed indicate a strategy of diversifying investments between the short, medium and long term in order to reap the benefits while diversifying the risks.

“The Who.” Which key people should be involved in corporate venturing?
The involvement of the CEO is crucial to the startup of a new venturing unit – as is the board of directors and other C-level executives in an organization.

“The Where.” Where can you intercept or find the best investment opportunities (i.e., the deal flow)? Which strategies should you use?
In response to this question, 50% of respondents referred to calls for startups promoted by corporations; 43% to proposals coming from CVC or parent company employees and emerging from the internal needs of the organization or its customers; and 7% from traditional venture capital.

The study was written by Pedro Irujo, Managing Director of GELLIFY Iberia and expert in corporate venturing, in collaboration with Amanda Whitmore, GELLIFY Corporate Storyteller, along with the contribution of Rebecca Mini, GELLIFY Innovation Consultant, and Federico Collarin, GELLIFY Innovation Consultant.

Pedro Irujo, Managing Director GELLIFY Iberia and Corporate Venturing Expert, said about the results of the study: “If you’re not willing to invest time and money in startups, you won’t be relevant in the future. When you are working in innovation and Corporate Venturing, you are working on the revenues of the next 2-4 years, not the next quarter. This justifies going deeper and reflecting on your own company’s practices in light of the analysis, lessons learned, and best practices of corporate venturing shared in the report.”

“Corporate venturing is becoming increasingly widespread at a global level with double-digit growth, in Italy, it has substantial development potential. In the open innovation framework, it is a fundamental tool and is perfectly complementary, in terms of its purpose and time horizons, to the other ways of interacting with the ecosystem – said Sandro Bacan, Accenture Innovation Lead Italy, Greece and Central Europe. “It is a tool that guarantees flexibility and allows companies to outsource R&D efforts to improve business portfolio options in the medium and long-term”.

For more information on the results of the study visit: bit.ly/The4WsOfCVC .

Daniela Abbondanza
GELLIFY
+39 342 098 2305
email us here

“The 4W’s of Corporate Venturing”, an international report by GELLIFY

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