What is a Corporate Venture Studio?
A corporate venture studio is a company that creates startups and new businesses or services for corporate partners.
At L Marks, we specialise in innovation and our venture studio product channels our experience and skills to bring new businesses to life. Our team is made up of established startup professionals who have built and sold businesses in the past, but we’re now directing our energy into helping corporations grow into new markets.
How does the corporate venture studio work?
First, we start with an idea for a new business, generated by your team or ours. We go through our four-stage process which includes: Discovery, Design & Preparation, Experimentation & Iteration, and Learning and Refinement
We work with our clients to understand their new venture goals and strategic objectives. Secondary research and a collaborative workshop take place. A collaborative workshop takes place to capture the starting value proposition.
DESIGN & PREPARATION
We identify and prioritise the key assumptions necessary to the success of the new venture. Agile experiments are designed to validate these assumptions.
EXPERIMENTATION & ITERATION
Our team conduct primary research and execute the chosen experiments. We pivot the value proposition & iterate experiments based off learnings to find problem-solution fit.
LEARNING & REFINEMENT
We analyze the results of experiments, and validate/invalidate the key assumptions. Based on findings, we deliver a refined value proposition, and plan for next steps.
WHAT ARE THE BENEFITS OF A CORPORATE VENTURE STUDIO?
The most common reason corporations begin a programme is that while corporate teams understand their own market better than anyone else, they are traditionally set up for stability and a continuation of their core business.
Meanwhile, new startups can innovate faster than anyone else because they often don’t have many customers, they have a small team, and they have very little brand risk they need to protect. To startups, the largest risk is in not moving fast enough, not in protecting a core business which is yet to exist for these early stage startups. Corporations on the other hand, have significant resources, but they must devote much of their time and attention to protecting and growing their core business, instead of looking into the next 5-10 years.
The main benefit of our program is that we combine the benefits that a corporation naturally has with the benefits that a startup naturally has. In our program, our team will have the resources and research of a corporation, with the agility and distance from the core of a startup, all while serving the interests of the participating corporation.
Get in touch
Get in touch with us to discuss Venture Studio opportunities for your company.Contact us