Calling all corporate leaders: An effective venture ecosystem is possible to realize tangible growth

Ask 50 CEOs to define an ecosystem and you'll get 50 different answers — from sales channels to high school biology references. This piece cuts through the ambiguity to show corporate leaders how a properly built venture ecosystem turns competitive threats into growth opportunities.

It turns competitive threats into opportunities. Ask 50 CEOs to define an ecosystem, and you’ll get 50 different answers. A simple sales channel A marketing tool Show of industry power and connections A high school biology reference Even executives that define a venture or startup ecosystem as demo days, hackathons, or field trips to Silicon Valley will admit they provide little tangible results to benefit the corporation. Why? Working side-by-side with CEOs for many years, we’ve learned that “innovation” pet projects that fail all have three things in common. They were vaguely defined , short-sighted , and were too short-lived . An effective venture ecosystem is possible to realize tangible growth. It turns competitive threats into opportunities. …But first, it must be understood, harnessed, and capitalized. Through a scaled approach, combining capital and collaboration with dozens of ventures, your company will achieve profound results. And for entrepreneurs, they can now better test their assumptions and be introduced to alternative opportunities when they form partnerships with corporations. Success reverberates. The mantra is “collaboration for collective success.” Here’s how Okay, so what exactly is a Venture Ecosystem? It’s a network of interconnected corporations and startups engaging as a collaborative community to sustain and grow. Before you build your Venture Ecosystem, define specific, actionable goals. Think about… Short- and long-term goals Strategic priorities Where is your industry now? Where might it head in the next 2 years…3 years…? And how do you lead the way? What are current threats; where might new ones emerge? A bespoke ecosystem becomes a resounding platform of leadership for the corporation, the lynchpin in an interwoven set of relationships that fosters common interests, innovation, and revenue growth, and produces 5 key results. New Market Insights New Products and Services New Business Models New Markets Organizational Change Increase y

By Madelyn Rutter at TechNexus Venture Collaborative