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Bringing innovation to a corporate environment is inherently challenging. Many firms have established research and development or corporate development teams, but not innovation teams. Since corporations have complex organizational charts with any array of divisions and people, it’s hard for any one team to have a complete view of the big picture. Intrapreneurship programs may inspire internal innovation, but this is an expensive and risky model to support.
The nature of corporate venture capital
The popularity of corporate venture capital (VC) has varied over the years. Firms like Boeing and Dell have eliminated their internal VC teams, yet CB Insights reports that big tech companies increased their startup investments from $7.6 billion in 2019 to $16.7 billion in the first eight months of 2020. Google Ventures, Intel Capital and Qualcomm are examples of successful corporate VC organizations. However, it’s a model that’s hard to replicate. According to CB Insights, 80% of S&P…
