After two decades of failed attempts, can new corporate venture building models finally deliver an answer to the Innovator’s Dilemma?
This recent Master Class featured Jon Corshen, Founder of Pilot44, sharing the core principles of new venture building models.
“Incremental innovation and disruptive innovation are not just different, but almost polar opposites, in terms of what it takes to do them… I would argue that applying incremental innovation to disruptive innovation…can be very, very damaging.”
Corshen defined venture building as “the application of startup or lean tools to the design, development, and incubation of new ventures within large companies.” A venture studio is “a scalable program designed to upskill internal teams, accelerate front-end innovation, and develop a portfolio of cross-category growth ventures…hopefully not completely internal or completely by yourself.”
The five core tenets of “Venture Buiding 2.0” that Corshen laid out are:
- Disruptive innovation is non-linear
- It’s not really all about the consumer
- Concepts are cool, businesses pay the bills
- Innovation is driven by storytelling
- Disruptive innovation requires investment.
Another slide provided an overview of the “evolution of corporate innovation,” from 2014 through 2024.
To watch the webcast, click “play” above. You can also download Corshen’s slides in PowerPoint form below.
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