We combine both - venture building and partnering/investing. This is because one option is less resource and cost-intensive than the other. So both need to cohabit. Partnering and investing in smaller bets requires less time and resources. This results in the benefits of learning what works and what doesn’t, the ability to adapt strategies quickly, the ability to scale at speed and in building ecosystems. It is why corporations must approach corporate venturing as a thought-out and well-defined exercise in building the rationale and logic of their approach. This includes what concepts to pursue, what order to pursue them, and how to do so through strategic mapping. This will involve defining clear building blocks from priorities (known and unknown) and skills, while aligning the best assets. After all this, the next step is to narrow the range of opportunities to go after. To be successful, we need to start with a clear understanding of the corporate entity’s business priorities, strategic directions, and unique strengths. These are often taken for granted by existing companies. The goal is to start indentifying the value of every corporate asset that corporate venturing teams can use. Strategic venture mapping Venture mapping is a key ingriedient of our approach. Once we have a clear view of strategic direction, priorities, and internal strengths and weaknesses, we define your venture mapping framework. While the framework remains consistent, its underlying assumptions change from company to company. Everything is linked to the company’s direction and strategic priorities, current relationships, and approach to analyzing and understanding the core customer perspective. It is also about gaining a lens on the future shifts affecting many sectors today. 41