Author: Martin Kelly, CEO INNOVO
Ever wish you had done computer science at college – so you could set up from your college bedroom what went on to become a Tech giant? If you have the ambition, there is now another route to setting up and rapidly building your own giant. You can connect a major corporate in your industry through your own Joint Venture (JV) to the latest technologies, the best global talent led by you as Founder/CEO and financed by large-scale capital.
From Corporate Career to Corporate Entrepreneur
If you have the entrepreneurial ‘grit’ (passion and persistence), the route to becoming the Founder and CEO of your own large-scale, leading-edge company is now clearly laid out for you to seize. You start by becoming a Corporate Entrepreneur. This involves taking the latest technologies into your corporate partner. Your JV with them can jointly develop new markets and your ability to forge partnerships helps take your partner into new markets. Your company is the product of your own vision, leveraging all your corporate experience coupled with your passion for innovation.
How is such an entrepreneurial dream possible? More practically, you don’t live in a college bedroom, you probably have a family who depend on you and you have a mortgage to pay. Fortunately, either of the two Corporate Entrepreneur routes to Founder/CEO enables you to pursue the dream and continue to pay all the bills.
Not a “Start-Up” but a “Connect Up”
It’s a big job from the outset because you and your own company are connecting the customers and operations of a major corporate to the best global talent and a stream of proven new technologies from INNOVO backed by corporate scale investment. A major corporate partner encompasses any company in any industry with revenues over $500m right up to a Global 2000 corporation. Your company has immediate corporate scale because it reflects the size of its major corporate partner which runs into $ billions. Your JV is a parallel organisation to your corporate partner. This is one of the keys to ensuring that your transition to Corporate Entrepreneur is fully financed. It is much easier to raise large-scale capital at the outset ensuring that your own corporate income continues into the JV.
Leveraging the Driving Forces Behind Tech Tornadoes
There are 5 powerful driving forces behind the Tech tornadoes which are disrupting industry after industry and your new company can be set up to leverage them immediately for your major corporate partner. Although they are called ‘Tech tornadoes’, leading technology is only one of their extraordinarily effective driving forces:
- A Founder/CEO with drive and a passion for innovation (this is your new role)
- A vision and a really long-term strategy (this is your vision for your own large company)
- The best global talent (you can attract and reward the best global talent for your exciting business)
- The latest proven new technologies from INNOVO for you to deploy at your corporate partner
- Access to very large-scale capital because you are deploying the 5 tornado forces for your $ multi-billion major corporate partner
Your Corporate Cyclone Joint Venture (JV)
Your company is a JV between your major corporate partner and INNOVO and it’s called a Corporate Cyclone because it is the corporate equivalent of a Tech tornado. Your JV deploys all five of these driving forces:
Your JV connects the corporate partner to INNOVO which provides a flow of external, proven innovations and new technologies for you and your team to deploy. It also provides the know-how and processes needed to set up a fully operational JV and provides a ready-made framework to raise the initial capital.
History Does Not Have to Repeat Itself
If the Corporate Cyclone JV model had been around a few years ago, Tesla could have been a JV with a leading automotive company. Airbnb could have been a JV with one of the major hotel groups or travel companies. Crucially, the JV can deploy the 5 driving forces that have powered the Tech tornadoes in ways that a major corporate cannot itself. The corporate has a Board and has to be focused on quarterly financials. The Founder/CEO of the JV has a passion for innovation and develops a long-term strategy. The JV can attract and reward the best global talent and raise capital on a completely different scale from the corporate. The JV also has access to the latest innovations and proven new technologies from INNOVO.
Funding for Corporate Entrepreneurs
Connecting a major corporate to talent, technology and capital is a much easier place to start than a college bedroom, especially from the perspective of finance! There are two routes to fully financing your transition to Corporate Entrepreneur so that you continue to meet all your existing financial obligations:
You can persuade your employer or a major corporate interested in a JV to sponsor you through the Corporate Entrepreneur Programme ($25k fee). Fortunately, there are innovations and new technologies ready for immediate deployment so that you can demonstrate commercial potential to the corporate partner even before the JV is set up.
You can raise the initial capital for your Corporate Cyclone JV as a proposition for your industry from an investor such as a PE firm, investment bank or corporate finance house. This enables you to approach multiple corporate targets in an industry in order to find the right partner. The proven new technologies that you deploy can start generating revenues even before the JV is set up.
Your Biggest Obstacle: A Corporate Mindset
Having recruited many would-be Corporate Entrepreneurs to build INNOVO Network, we have found that the biggest challenge is for an executive to let go of the deep constraints of a corporate mindset. These are more deeply ingrained that you might imagine, even within your own mind.
The best example of this is the difference in ambition and self-belief in Tech entrepreneurs in Silicon Valley on the one hand and corporate executives on the other. Entrepreneurs start in a college bedroom with nothing more than an idea, sometimes with no programming skills and yet they believe that they create a $1+ billion company. Extraordinarily, enough of them have succeeded that there is now a word for this scale of start-up: “Unicorns”. That’s the entrepreneurial mindset: ambition, self-belief and an idea. No customers, no finance and certainly no infrastructure.
Contrast this with your own initial reaction to the idea of a Corporate Cyclone JV which is actually a hybrid between a corporate and a Tech tornado. As a Corporate Entrepreneur, you start with leveraging the customers and operations of a $ multi-billion corporate partner. You don’t have to come up with the Tech idea, instead you select the most relevant, commercially proven innovations and new technologies from INNOVO. You immediately have access to appropriate levels of large-scale capital and the best global talent. The test of how entrenched your own corporate mindset is: “Do you have the ambition and self-belief to connect these existing elements into your own $1+ billion JV?”
If so, please get in touch: http://innovo-innovation.com/corporate-entrepreneurs