Corporate Innovation Meets Tech Startups

2. Luxembourg #LeanStartupNightLux Lessons learned… • Methodologies are very valuable in accelerating thinking about business models • Lean Startup is particularly helpful in: • confronting key assumptions with reality as early as possible • defining key metrics about the business However • Transposing directly an agile software development process to business model generation can be ineffective/inefficient

3. Luxembourg #LeanStartupNightLux Tech startups

4. Luxembourg #LeanStartupNightLux “Everything changes in a startup” Death in near So-So Fair Nice Super Survival limit ❤️ ❤️ Size of sales pipeline 💰 💰 💰 💰 Paid customers validating product/service features ⭐️ ⭐️ ⭐️ If everything changes, how should I know I am heading towards the right direction?

5. Luxembourg #LeanStartupNightLux Market opportunity attractiveness Potential Challenge Quick Win Gold mine Moon shot source: Gruber & Tal 2017 Questionable Attractiveness map Low Medium High Super high Low Medium High Super high

6. Luxembourg #LeanStartupNightLux Startup/entrepreneurial mindset • Ready to take (calculated) risks • Creative/innovation-driven • Fast feature development • Maximum flexibility (customers / markets / industries) Implication for corporate innovation programmes: • For Intrapreneurs: How to build/reinforce the startup mindset? • For external startup teams: How to canalise the startup mindset?

7. Luxembourg #LeanStartupNightLux Corporates & Innovation Some challenges (from the point of view of entrepreneurs)

8. Luxembourg #LeanStartupNightLux 1. Overcome the “corporate truth” syndrome “It's not what you don't know that kills you, it's what you know for sure that ain't true.” Mark Twain

9. Luxembourg #LeanStartupNightLux 2. Adopting a startup culture Idea Team Product Economic Model Growth The journey Time Most scarce resource: executive management’s time → Fact-based business model development comes to the rescue

10. Luxembourg #LeanStartupNightLux 3. Sales • Do startup sell to Internal teams or to customers of the corporate? • Do corporate sales people receive sales commission / revenue recognition from startup product/services sales?

11. Luxembourg #LeanStartupNightLux 4. “Corporate-made” culture • How are overlaps with internal R&D managed? • How are Intellectual property conflicts with own products detected/managed? • Is the corporate acquisition strategy known to startups? • Are quality assurance, production delivery and other processes open enough to onboard “external” startups

12. Luxembourg #LeanStartupNightLux I would never die for my beliefs … because I might be wrong Bertrand Russell Nobel Laureate

Corporate Innovation Meets Tech Startups

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Corporate Innovation Meets Tech Startups