TIM-PD-004-R4 Reference Document on Venturing Programs
A reference document that handles how you can set up corporate venture programs/startups.
This is a companion document to the main TIM Innovation Management Maturity Model, in particular the Innovation Management Standard, the Interpretation Guideline and supporting documentation. This document explains in overview Venturing Program options in innovation management, for its users, registrars, accredited trainers and assessors. It helps to properly organize internal startups, and ventures.
The Venturing Program is a generic name for any method that can be used to stimulate innovation, particularly of radical, breakthrough types. This type of method is applied to stimulate (at the same time moderate) controlled risk-taking behavior in particular areas of the organization. It stimulates entrepreneurial attitude in larger organizations, by creating a startup environment (also known as a sandbox) which is similar to that of Internet startups. At the same time, a good Venturing Program also addresses its potential impact on core businesses and regulates its re-entry into mainstream operations.
Large organizations, if they pursue strategies for shareholder value for decades, as a consequence could face considerable difficulties generating adequate autonomous growth and renovation. This phenomenon is precisely what Steve Denning refers to in his famous article in Forbes Magazine as ‘the dumbest idea in the world.’