We enable enterprise innovation at the speed of startups
Venturetec works with large enterprise and government organisations to develop innovation and corporate venturing strategies, design innovation programs, hackathons and innovation labs, and launch corporate accelerator programs.
Our team are experts in Human-Centered Design, Lean Innovation, Business Model Design, and Agile methodologies, combining global corporate, consulting, and startup experience across a range of industry sectors.
Venturetec brings Lean Startup to the enterprise through our partnership with Moves the Needle, enabling corporates to innovate like startups.
We've worked with some of the world's most innovative companies including:
Venturetec has pioneered a unique approach to integrating innovation portfolios
Venturetec has designed innovation and venturing strategies for enterprises across a range of industries and geographies, enabling them to define and achieve their innovation vision.
Our approach takes an enterprise-wide view of the organisation's innovation portfolio, creating strategic alignment and integration of all innovation horizons and activities (Build, Buy, Partner, Invest and Co-Develop).
Utilising the building blocks of innovation (Values, Behaviours, Climate, Resources, Processes, and Success Metrics), we design strategies that transform an organisation's culture to become more agile, customer-centric, and innovative.
We bring a unique perspective, instilling the mindsets, principles, and practices of startup entrepreneurs and venture capitalists into large enterprises.
Venturetec can perform a diagnostic on your organisation's innovation portfolio, capabilities and culture. Venturetec's Innovation Diagnostic measures the key components of innovation success; it measures the current state of innovation within an organisation
Whilst innovation is often acknowledged as being key to an organisation’s future growth, many executives struggle to define and realise their organisation’s innovation objectives. Venturetec has developed it's Innovation Diagnostic offering based on learnings and insights from global innovation leaders on how to build future-ready organisations.
Through our research and global experience working with some of the world’s most innovative organisations, we’ve identified the following Critical Success Factors for organisation’s to become more adaptive, customer-centric and innovative:
- Strategy & Leadership
- Balanced & Integrated Innovation Portfolio
- Enabling Processes, Tools, Methods & Capabilities
- People & Culture
The diagnostic tool has been modularised so that each component can be applied independently, in addition to integrating with each other to form a holistic assessment of the state of innovation across the organisation.
The Innovation Diagnostic comprises a series of modularised tests that can be run enterprise-wide, or at a business or functional unit-level:
- Enterprise Innovation Audit
- Innovation Portfolio Analysis
- Capability Maturity Assessment
- Innovation Culture Assessment
We utilise the data and insights from the diagnostic to develop a set of recommendations for your organisation to develop a balanced innovation portfolio, build innovation capabilities and create a culture of innovation.
Key outcomes of the Venturetec Innovation Diagnostic:
- Recommendations on the organisation’s innovation strategy; including optimisation of resource allocation to achieve innovation objective
- In-depth analysis of the organisation’s innovation portfolio; including identification of portfolio risks and opportunities
- Prioritisation of areas of improvement to uplift the organisation’s capability to successfully execute on the innovation strategy
- Measuring and benchmarking the organisation’s culture, with recommendations on which building blocks of innovation will deliver maximum impact
Spotlight on our Innovation Culture Assessment
Organisational culture is a key driver of innovation; researchers have identified the building blocks of innovation that can be measured to produce an organisation’s Innovation Quotient (quantitative score on innovation culture).
The 6 building blocks of innovation culture are: behaviours, climate, processes, resources, success and values. We apply both quantitative and qualitative methods to measure the building blocks, gaining valuable insights that can be actioned to transform the culture.
“Innovation is not about technology, it’s about people.”
Neal Cross, award-winning Chief Innovation Officer, DBS Bank
Venturetec are experts at operationalising innovation across the enterprise
Through our expertise in Innovation Management, we enable organisations to execute on their innovation strategies and achieve their innovation objectives.
We utilise the Innovation Management Framework to create a central platform to manage:
- Idea Generation
- Innovation Execution Capabilities
- Processes, Tools & Methods
- People & Networks
Innovation Management allows organisations to effectively coordinate their innovation initiatives and leverage resources and capabilities from across the enterprise, resulting in increased transparency, reduced waste, higher employee engagement and greater ROI potential.
We also have deep knowledge in the selection, implementation and management of several idea management systems that enable enterprises to run innovation challenges and manage idea pipelines.
MOVES THE NEEDLE: Enterprise lean innovation
Venturetec has partnered with Moves the Needle to bring Lean Startup methodologies to the enterprise
MTN was founded by Brant Cooper, the NY Times Bestselling Author of The Lean Entrepreneur, and Aaron Eden, the co-founder of Intuit’s Innovation Catalyst program.
We've amassed a global team of entrepreneurs and corporate innovators, who have launched transformation journeys at dozens of organisations, and empowered thousands of innovators to discover and create new value.
Together, we combine the principles, tools and methods of Agile, Human-Centered Design, Lean Startup, and Rapid Experimentation.
Our Lean Innovation Bootcamps are a proven and scalable method to educate, enable and empower corporates to innovate at the speed of startups.
Venturetec delivers an integrated set of strategies, training programs and toolkits that educate and enable both executives & employees to become more adaptive, customer-centric and innovative
We utilise the data and insights from the Innovation Diagnostic to design a roadmap to rollout a set of innovation enablers (capabilities, processes, tools and methods). Our innovation toolkits and playbooks leverage proven, best-practice methodologies, and are customised to integrate into the organisation’s existing operating model.
We target developing innovation capabilities across all levels of the organisation including senior management and executive levels, which are critical to the success of any innovation initiative.
The capability development plan defines innovation roles and capability proficiency levels which typically include:
- Foundation-level: the minimum set of innovation skills for all staff to be customer-centric and support continuous innovation
- Practitioner-level: a practical, full-stack of innovation capabilities for corporate innovators includes exploration, empathy building, problem definition, solution ideation, assumptions mapping, rapid experimentation and agile execution
- Coach-level: An advanced set of skills for innovators responsible for managing the innovation process, toolkit and knowledge management within the organisation, also equips staff to provide guidance and coaching to innovation project teams
INNOVATION TRAINING PROGRAMS
Leadership Immersion Program: A half to full-day customised workshop designed for executives to build a venture capitalist mindset, understand how to invest in a diversified innovation portfolio, make decisions based on data and insights gained through lean innovation methods, and enable and empower their teams to innovate at the speed of startups.
Foundation-level Innovation Workshop: A practical one-day workshop based on design thinking and lean innovation methods aimed at teaching corporate employees to build customer empathy, define problems to be solved and opportunities to innovate, ideate solutions.
Business Model Design Workshop: Based on the Strategyzer business model innovation toolkit, a one-day in-depth workshop designed for executive, strategy, and product teams to innovate on existing, and design new innovative business models.
Moves the Needle Lean Innovation Bootcamp: An intensive two-day bootcamp based on the tools and methods created by Lean Innovation thought leader Brant Cooper. Focused on rapid experimentation techniques and the practical application of lean startup methods in large enterprises (at scale).
Advanced Rapid Experiment Design Bootcamp: An intensive two-day bootcamp focused on advanced experiment design techniques (MTN lean innovation bootcamp is a pre-requisite) including digital experimentation and playbook of rapid experiments. Deep-dive into understanding which experiments to run to test different assumptions and how to stack multiple experiments.
Ongoing coaching sessions optional: We can also provide ongoing coaching sessions if required