List of various options corporations may have for creation of ventures or new business. A simple list, nothing more.

1. Various Forms of
New Business Creation in
Established Corporations
As Listed by
Harry Santamäki

2. The traditional ways
Strategic business development
• Small BD team, reporting to CEO, with
mandate to go around and hunt for major
business opportunties, of any form
Acquisitions
• Buying into a new business area
Incremental progressing
• Involving current customers to jointly ideate
new products and services
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3. Internal activities
HQ driven new business creation
• Internal idea sourcing, competitions,
development, piloting & trials
• Internal dedicated team, ’ventures
organization’
Business Units driven new business
creation
• Freedom to BUs to develop and trial new
ideas, close to their core
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4. External operations 1
Partnerships
• HQ or BUs making strategic partnerships e.g. with
key technology companies
Corporate VC operations
• CVC team to invest in raising startups which are
(not yet) strategic
Accelerators
• Collaboration with external startup accelerators
or setting own accelerator for accessing
innovations at their early stages
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5. External operations 2
Stimulating External Idea Generation
• Idea collection and competitions (on-line),
competitions, hackatons
Open Innovation for Pre-Set Challenges
• Sourcing of innovative solutions and solvers
from large external community for pre-set
challenges; assisted by match-making
companies (e.g. Industryhack.com)
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6. Comments and inquiries welcome!
Harry Santamäki
• harry@industryhack.com
• harry@sandhill.fi
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