Three keys to longevity for corporate venture capital groups
One the biggest knocks against corporate venture capital initiatives is that they are often a by-product of a booming economy and a pet project of the CEO. They’re here today, gone tomorrow.
This reputation, unfortunately, is grounded in some truth, but it doesn’t have to be that way. In fact, a corporate venture capital team can and should be a strategic arm of the larger corporation, helping to evaluate new market trends, advising on new business ventures, striking partnerships, and serving as the de facto innovation group. It’s not an easy task, since each organization has its own intricacies and politics, but there are steps that can be taken to make your corporate VC program lasts — and helps the organization grow.
Below are some of the strategies we have employed at dunnhumby Ventures and are still employing. Dunnhumby is a data science and loyalty company; it is ultimately part of Tesco, one of the world’s biggest retailers, and we invest in innovations in retail.... continued ...