Pressured by rapid marketplace changes, corporate innovation has become a necessity for established businesses to thrive in the age of uncertainty and drive the next wave of disruption.
But venturing into unproven territory is not for the faint of heart. The reward, while higher, has associated risks which also increases sharply. Even new products tend to lose their impact soon after they enter the market. That is how fast the marketplace is changing, especially under the effects of the current economic recession.
Thus, many are looking for a sustainable alternative form of innovation.
This in turn gives rise to venture building.
Why Do Corporations Fail At Venture Building?
At first glance, corporations seem to have all the crucial keys that would effortlessly turn any good idea into a great venture – capital, market insights, and manpower.
But like how Goliath fell to little David, many established businesses found themselves losing the game of entrepreneurship because they underestimated the differences between building new ventures and running established corporations.
Unaccustomed to Startup Roadmap
A preoccupation with feasibility can distract a business from its proper focus on the speed to market. In the grand scheme of things, progress will always occur so it is a matter of accelerating or extending your path to the ultimate goal.
Unfortunately for corporations, their startup roadmap often falls victim to the latter as they try to fit new ideas into existing reporting and funding structures, across multiple stages and with longer timeframes – sometimes months or even years into the future.
Lack of The Right Talent
A common misconception about corporate innovation ventures is that they already have the right talents, being able to capitalize on their own in-house team for building startups from the get-go. They are often savvy leaders who can make established businesses thrive.
However, what worked in a corporation is unlikely to work for a startup. Creating a startup from scratch requires experienced operators schooled in the art of corporate venturing.
Flawed Venture Ideas
There is no lack of good ideas, but it’s difficult to transform that good idea into a product that makes an impact in the market. A corporation’s approach and perspective to business ideas is vastly different from a new venture. In other words, they might have a very skewed image of what would work in a startup context.
This leads to a Goldilocks Problem, where they may believe in ideas that seem just right, while in reality, those ideas fall on the wrong end of the spectrum. Often, businesses only realize the truth after investing their time and resources. Even then, many are still uncertain, knowing something is amiss but lacking the insights to find the correct path.
Why Firms Should Choose Venture JDI
The Venture Builder That Fits Your DNA
Startups take pride in their fast-paced culture, where creativity and communication are condensed to the maximum extent, aiming for rapid growth within a short timeframe. Therefore, established businesses often face the ongoing challenge of aligning their venture culture with their core values of corporate innovation.
From founders and investors to subject matter experts, the venture-building team at Venture JDI comprises talented individuals dedicated to helping corporations integrate their DNA into successful startup initiatives.
We also believe in empowering ventures with minimal disruption to the legacy business. This requires a deep understanding of corporate culture and its people, especially in the context of traditional business models in Asia, breaking free from the mold.
In essence, the JDI team shares a common culture, allowing us to communicate fluently in both worlds, all with a local touch.
Venture Co-creation – We Bring The Needed Talent And Resources For Corporate Innovation
Through our venture-building team, we co-create the venture in collaboration with the corporation’s in-house talent, bridging the gap between startup opportunities and established businesses.
Companies will not only accelerate innovation but also gain access to successful entrepreneurs, experienced consultants, and advisors well-versed in the Asian innovation landscape.
This enables firms to orchestrate ventures that are not only technically feasible but also highly desirable in the marketplace, greatly increasing their chances of success.
Ultimately, these valuable experiences will empower the corporation’s in-house team, nurturing the next generation of entrepreneurial talent within the company.
We Enable Fast Venture Ideation and Validation To Drive Success
Speed is the key driver for innovation success, as it involves the ability to recognize genuine opportunities. Unfortunately, today’s wealth of innovation options can have the opposite effect on businesses, leading to sluggish decision-making.
Combined with the traditional inflexibility and limited entrepreneurship insights of corporate structures, many promising ventures have met their demise due to bottlenecks in venture ideation and validation.
Instead, organizations can benefit from a more agile model that facilitates innovation mobilization through faster cycles. By partnering with Venture JDI, established businesses can pick up the pace, engaging in timely hypothesis testing and setting their sights on weekly milestones, rather than quarterly ones.
Conclusion
The time of uncertainty requires established businesses to embrace innovation to survive. Above all, organizations need to understand that innovation, now more than ever, can be sustained through the venture-building model.
The team at Venture JDI believes that any company can become an entrepreneur in its own way with the right blueprint. The question should no longer be why venture building, but rather how to achieve it.
If this sparks your interest, drop us a message. We look forward to jump-starting your organization’s journey in venture building and developing disruptive innovations!
If you’re gearing up for your next fundraising round and want expert guidance or warm introductions, don’t miss the Next Wave Capital Program – Launchpad Q2 2025.
