Reinventing Traditional VC: Enabling Corporates To Access Startup Innovation Power
Listen to this episode for the full story on Speedinvest’s work in connecting the traditional world with the startup environment, and Marie-Helene’s way from a corporate background to reinventing the VC model.
3 Main Takeaways From This Episode
01Find your own mix of actions towards digital transformation and be open to external approaches. Marie-Helene highlights that there is not one right approach to digital transformation. “I think it’s a puzzle of many different, tiny actions and activities that you need to do. And one of these is definitely the collaboration with the startup ecosystem, because many things you are blind from within your own organization.” One of her tips is to have an outside-in approach, gaining innovation from the outside into the company. This is the model that Speedinvest Industry follows to bring innovation from the startup ecosystem into traditional organizations.(Listen from 07:12)
02Create win-wins for corporates and startups through collaboration and access to innovation power. Speedinvest’s underlying concept is for the traditional industry to invest money into Speedinvest’s fund, with them in turn reinvesting into relevant startups while also connecting the traditional world with the startup community. “It all starts with the mindset change,” Marie-Helene points out. Benefitting from the digital world is more a cultural issue rather than a technological one. “And my vision for Speedinvest Industry is really to enable traditional players with the access to the innovation power of the startup world and create a win-win situation for both sides.” (Listen from 09:00)
03Invest time to find the right startup-corporate relationship and manage expectations from the start. “You have to be crystal clear in the beginning of this collaboration […] So we just want to understand: Is this startup addressing a pain point or is this collaboration intended to potentially lead to business?” One of Marie-Helene’s biggest learnings is that it takes a lot of time and effort to lay the groundwork for a matching collaboration and to really understand the nature of the business. Make sure you clearly understand everything from the value chain of the existing industry, their threats, to their options for future business, etc. Only if you understand the business, you can find this metric of a relevant startup. (Listen from 15:51)