Business leaders directed an average of 15% of their operating budget toward venture building in 2023 - almost double the amount in 2022. 45% of respondents launched a venture generating at least US$100 million in annual revenue, emphasizing the potential to increase corporate development funding for venture building.
Large-cap corporations need to create a 'corporate unicorn' that can scale significantly and add at least an additional US$1 billion in market cap. Despite competitive advantages, scaling an enterprise venture poses unique challenges necessitating a specialized approach.
CEOs of large corporations must adopt a new approach to business-building, blending the agility of venture capitalists with their companies' resources. Legacy methods are outdated given the rapid growth rate of new businesses and the accelerating rate of companies falling off the S&P 500.
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