The Three Internal Barriers to Deep-Tech Corporate Venturing
The benefits of deep-tech Corporate Venturing (CV) are compelling. That’s why chief innovation officers must tackle not-invented-here syndrome, risk aversion, and top-down cultures to successfully collaborate with deep-tech startups. To address NIH syndrome, a shared mandate between R&D and CV can help overcome internal biases and siloed decision-making while encouraging choices that are best for the organization as a whole. Deep tech is often associated with high risk, which can cause corporate leaders to block efforts to adopt and catalyze external innovation. To appropriately evaluate risk, senior managers should evaluate the risk levels their peers are willing to take on and choose mechanisms to match. Many times, we at P&C also recommend creating a sandbox—basically a minimum proof of concept environment, as a way of addressing risk. Furthermore, if your company’s top-down culture is getting in the way, you can enlist internal advocates or turn to outside experts to help make a convincing case. Contact us to learn more about how we help our clients effectively harness the value of deep-tech venturing.