In the Year 2025 and Beyond, Venture Studio Emerges as the Answer for Venture Creation
Large enterprises are collaborating with venture studios to bolster their technological advancements and scale up businesses amidst the COVID-19 pandemic. Despite their unfamiliarity with this concept, many doubt whether venture studios can actually contribute to their success.
Comprehending Venture Studios: A Closer Look
At first glance, venture studios may seem similar to venture builders. However, they differ in offering venture building as a service for corporations, in addition to generating and validating internal business concepts.
The Imperative Need for Venture Studios
In the contemporary business landscape, a focus on growth at any cost is obsolete. Entrepreneurs and investors prioritize scalable businesses with sustainable unit economics over the long term. Innovation is no longer exclusive to startups; even larger organizations must embrace it to compete in the digital age.
To reflect this shift, Singapore's government is urging multinational corporations and large local enterprises, particularly those within industries overseen by the Economic Development Board (EDB), to participate in corporate venturing by working with venture studios.
How Venture Studios Benefit Corporations
Venture studios streamline the typical development silos, thereby accelerating the corporate venturing process within a six-month sprint. Working with a venture studio allows corporations to stay competitive against tech giants in the same industry and strengthen themselves against unexpected disruptions.
In addition, venture studios foster entrepreneurship while providing the stability of a corporate team and resources. This collaboration brings together the best aspects of both startup innovation and corporate stability within Singapore's corporate ecosystem, mitigating the economic impact of COVID-19 and shaping the investment landscape.
Enhancing the ASEAN Startup Ecosystem through Venture Studios
Venture studios contribute significantly to the success of startups by addressing operational risks and reducing failure rates. They focus on business ideas at a mature stage, aligning with defined goals, progress milestones, and transparent funding guidelines provided by the venture studio itself. This support ensures a robust foundation for startups, enhancing their chances of success.
Startups also benefit from the venture studio's access to capital, shared resources, and a talent pool. By alleviating concerns related to financing, scaling back operations, and finding the right talent, venture studios foster a supportive environment that allows startups to thrive.
The Role of EDB's Corporate Venture Launchpad
The Economic Development Board's Corporate Venture Launchpad is a six-month program aimed at connecting qualified venture studios with multinational corporations (MNCs) and large local enterprises (LLEs). The goal is to facilitate the development and validation of venture concepts, as well as foster venture-building capabilities in corporations.
To join EDB's Corporate Venture Launchpad, interested corporations can find detailed information regarding the platform.
The Venture Launchpad Sprint Process
The Corporate Venture Launchpad consists of three stages: idea generation, concept validation, and venture launch support.
In the first stage, ideas are generated, evaluated, and developed efficiently. Venture studios help corporations narrow down their focus by assessing corporate advantages and mapping opportunities.
The second stage, concept validation, is facilitated by measuring customer needs, pain points, and value proposition development. This stage involves implementing Proof of Concept, Prototyping, Minimum Viable Product (MVP), and devising investable business plans.
If corporations decide to proceed with venture launch, the final stage offers the possibility of co-investment support by the EDB, access to industry networks, expertise, and risk-sharing capital.
Venture Studios: Empowering the Future of Business
By bridging the gap between startups and corporations, venture studios enable organizations to navigate the complexities of disruptive innovation and tap into the evolving market for entrepreneurial talent. As more businesses embrace venture studios, their relevance and impact will continue to grow, ensuring the continued growth of innovation in the face of economic uncertainty.
Corporations preparing for their next fundraising round or seeking expert guidance or warm introductions should take advantage of the Next Wave Capital Program's Launchpad Q2 2025.
- Venture studios, though similar to venture builders, provide venture building as a service for corporations and internal business concept generation and validation.
- In the modern business landscape, scalable businesses with sustainable growth are prioritized, and innovation is no longer limited to startups.
- The Singaporean government is encouraging multinational corporations and large local enterprises to participate in corporate venturing by collaborating with venture studios.
- Working with a venture studio accelerates the corporate venturing process, helping corporations stay competitive and mitigate disruptions.
- Venture studios support startups by addressing operational risks, focusing on mature business ideas, providing access to capital, shared resources, and a talent pool.
- The Economic Development Board's Corporate Venture Launchpad connects qualified venture studios with multinational corporations and large local enterprises to develop and validate venture concepts.
- The Corporate Venture Launchpad offers a three-stage process consisting of idea generation, concept validation, and venture launch support, including co-investment support, access to industry networks, and risk-sharing capital.
