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What is internal and external Corporate Venturing: definition and examples

At a time when the entrepreneurial ecosystem is in full evolution and in which innovation becomes an element that provides differentiation and competitiveness, Corporate Venturing was born . A new form of corporate entrepreneurship that many companies are beginning to apply to streamline innovation processes through direct connection with entrepreneurs and startups, which allows them to attract talent, technology and new business models.

The data provided by the Boston Consulting Group reveals that the ROI of companies that use Corporate Venturing in their R&D processes is 2.6% higher than the average. In Spain it is still a very new process, but in the United States more than 57% of companies have already incorporated it as one more methodology.

Find out what Corporate Venturing is and how companies apply this new tool for innovation.

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Index of contents

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  • What is Corporate Venturing
    • Objectives of Corporate Venturing
    • Corporate Venturing tools
    • Internal Corporate Venturing (Corporate Entrepreneurship)
    • External Corporate Venturing (Corporate Entrepreneurship)
    • Examples of Corporate Venturing
  • IEBS Corporate Venturing
    • Do you think your startup can promote innovation in companies?

What is Corporate Venturing

Corporate Venturing is a new hybrid innovation model. It combines the research actions of companies with the best of the current ecosystem of entrepreneurs and startups.

This method aims to promote an open innovation system and is in line with the current trend of Open Innovation, through which companies seek innovation and talent, both within and outside their organizations.

Objectives of Corporate Venturing

The main objectives of a Corporate Venturing strategy are:

➡️ Explore new technologies and business models with the intention of developing new strategic ideas.

➡️ Renew the corporate culture of the company, looking for a business environment closer to entrepreneurs.

➡️ Attract new talents.

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➡️ Develop a more attractive brand for the company’s stakeholders (partners, suppliers, clients, society in general, etc.).

➡️ Incorporate new capabilities to reach new markets and / or products.

➡️ Reduce problem solving times through the application of agile methodologies.

Corporate Venturing tools

To promote and accelerate innovation, Corporate Venturing performs a diagnostic process and applies the most appropriate tools, both internal, Internal  Corporate Entrepreneurship, and external, External Corporate Venturing . All of this through incubators, accelerators and even investment and the purchase of startups.

Some of the tools that Corporate Venturing proposes to use to promote innovation in companies are:

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➡️  Hackatons: intensive sessions of two days of work in which a business problem is exposed to a group of about 50 participants, who come together to find the best solution.

➡️  Challenges for employees:  the business challenge is made known to a group of participants through a digital platform so that they find a solution. These groups can be made up of companies, individuals, research groups, etc.

➡️  Incubation of ideas:  the company generates an idea selection process for the subsequent validation of the business model, providing mentors and physical workspaces. 

➡️  Partnership:  strategic agreements between the startup and the company to share resources and transfer knowledge. 

➡️  Venture Capital: creation of a Venture Capital Company belonging to the company and with the capacity to invest capital in exchange for equity of startups with validated business models. 

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➡️  Acquisition of startups: search for startups that meet certain criteria of technology, maturity and team.

Internal Corporate Venturing (Corporate Entrepreneurship)

We speak of Internal Corporate Venturing when the tools and resources used by the company to develop its innovation arise from the organization itself, either from its R&D departments or from the creation of technological startups itself.

External Corporate Venturing (Corporate Entrepreneurship)

We refer to External Corporate Venturing when we talk about the external collaboration that companies require to have sufficient capacity to drive their innovation. For example, having the technology developed by startups, accelerators or incubators to apply it in their innovation and development processes.

Examples of Corporate Venturing

In Spain we can talk about the fact that large companies are beginning to see clearly that innovation, through maintaining the connection with the world of startups, is increasing, let’s see some examples:

  • Mercadona: with its Lanzadera accelerator it takes clear positions in this market.
  • BBVA: With its acquisition strategy in the Fintech sector, it is sending a clear message that the old world is catching up.

Internationally, there is also one of the most famous examples, that of Google, which with its Corporate Venturing, has invested in more than 350 startups in recent years.

IEBS Corporate Venturing

The IEBS business school is the first digital business school in Spain to introduce the Corporate Venturing method. It has done so to create IEBS Corporate Venturing , a  consulting and innovation service that seeks to help organizations in their innovative process through different tools related to the entrepreneurial ecosystem and startups.

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Pascual Parada, director of IEBS Corporate Venturing, assures that “this year 2017 will be the strengthening of the collaboration between startups and consolidated companies”.

The application of Corporate Venturing allows IEBS to advise companies in the exploration of new technologies and business models, evolving their own corporate culture towards a new context that prioritizes  creativity, innovation, agility, risk management and recruitment of talent.  

Through the application of Corporate Venturing, particular strategies are defined for each client (a technique called Venturing Strategy), which must be integrated with the global strategy of each company.

With this initiative, which is part of the strategic plan in the areas of innovation and entrepreneurship, the school reinforces its intention to continue betting on innovation and the development of the entrepreneurial ecosystem.

You can discover with this Webinar «How to Innovate through Corporate Venturing?

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Do you think your startup can promote innovation in companies?

Download for free the first eBook «The Corporate Venturing Guide» in Spain. And if you have a startup or are looking to innovate through the entrepreneurial ecosystem, you are interested in knowing the services that IEBS offers on   Corporate Venturing.

IEBS Corporate Venturing

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Crypto

How to Create Account in EXMO step by step

In this article you will learn how to register in EXMO in 2022, as you well know it is a cryptocurrency platform to trade, as well as buy and sell digital currencies. Next, we are going to make you a quick and easy guide to create your account.

How to open an account in Exmo.com step by step

Access the official website of EXMO to be able to register for free.

Select “Registration”

At the top right you will have a Registration button, click on it and there you will open a form to place basic data such as username, email, telephone, password and its confirmation, as well as the acceptance of terms and conditions of the platform.

Likewise, if you want you can subscribe to receive news you just have to activate the option. then activate the captcha and click on “Registration”

Phone and email verification

They will send you an SMS to the registered phone to place the verification code and give it confirmation. The same will happen with the email, in which they will send you an email with a link to confirm the account and activate it.

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Account Verification

Once you have completed all the registration, you must verify your account, this is quite important that you do it so that you do not have limitations, it is a financial platform and as such, by regulation you must verify your identity and address.

  • For identity, you can do it through your ID, passport or other identity document, also a selfie with the document, you can support yourself by linking the mobile if you do not have a webcam.
  • In the case of the address, it would be verified with a bill for services such as electricity, water or other document where they can verify your location or residence, this is to raise the limits further.
  • For the card, you need to enter your card details and even take a photo and attach it.

Ideally, you should verify everything, but the first thing is the identity, in which you will be required name, surname, middle name in the case you have. Secondly, you will be asked to identify what type of document you are going to use to identify yourself, for example, the DNI.

After that, you must upload a photo of the front and back of the identity document, if you do not have them at hand, you can do it with your mobile and send it to you by mail or web whapsapp or another application, and then upload it from the computer.

Once this is done, it will request a selfie with specific details, where you must write down on a paper the word EXMO, followed by the date of the day of the photo and hold the DNI without covering anything, there you capture the photo and attach it, with these steps you will already be in the process of verifying the identity.

Likewise, you can do it to verify the address with a receipt and in the case of the card you must do the same, they are similar processes quite simple, the idea is that you complete the entire registration process.

Configuration

Another important point regarding registration is the security configuration in which you can add extra protection and have two-step authentication. Likewise, you can observe other options such as personal information, which you can review carefully.

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Crypto

How to create an account on Poloniex step by step

In this article you will learn how to register with Poloniex in 2022, it is a cryptocurrency trading platform, where you can trade with margin or leverage and you can also do hodl. Here’s a step-by-step way to create an account on Poloniex.

Go to the official website of Poloniex

Access the Poloniex registration page to later follow the step by step that we will give you to register for free.

Select “Sing Up”

Once you are on the platform you must select in the left menu “Sing Up”, where you must enter the email and password, the latter you must confirm it. Additionally, you must place the referral code (optional), as well as accept the terms and policies that govern this page.

Verify your email

Once the previous form has been completed, you must check the email where a link will be sent for the purposes of verifying the email, in order to continue with the account registration process.

Account access

With the email and password data entered, we select “Log In” and access. Among the important things that there are is the “profile”, where you will have to verify your account.

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If you want to apply margin for trading or leverage you must verify your profile in “Upgrade” you will be able to select other aspects that will help you verify your identity, you will probably be asked to upload a file, such as a photo of the DNI or an invoice to verify the address.

Then, in the event that you want to use the future option that allows margin up to one hundred leverage, you have to have verified these things.

This request is totally normal, since it is required by all financial platforms by legal issue, with this you would already have verified level 2 and with it you would not have any type of limit.

Right now, you could make all kinds of deposits, normal purchases with certain fairly high limits.

Two-factor authentication verification

To protect your account you can activate 2FA this is double authentication code, so you must enter a code apart from the password to be able to log in.

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Crypto

How to Invest in Cryptocurrencies on Skrill

If you are one of those investors who do not like to deal with many complicated orders, but prefer to hold long-term, then Skrill is an excellent alternative for you. With the simplicity that characterizes it.

But the question is, how to invest in cryptocurrencies within Skrill? The answer will be shown in this article.

But first log in to your Skrill account, then you could already start the step by step that will be shown below.

Access Skrill’s Cryptocurrency Investment Options

Like any financial platform, Skrill puts at your disposal tools so that you can invest in cryptocurrencies within yourself, doing so in a simple and comfortable way. To access these tools, below, we will describe the following procedure:

  1. Within the home screen of your account, in the left sidebar, find and tap on Cryptocurrencies.

Important: It is likely that when you enter this section, you will be asked to accept some terms or similar.

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  1. Once there, you are presented with different options in terms of cryptocurrencies. From among these, you will select Invest now, clicking on this option.

  1. Once you access that section, you will be shown an extensive list of existing cryptos in Skrill. In each of which, you are given a Trade option. If you click on any of these, you would enter their trading options.

  1. When you have entered the crypto you chose, you will see a Buy – Sell panel.

Ways to trade cryptocurrencies in Skrill.com

In this buy-sell panel or trading box, you will have some options that will allow you to perform these operations:

Steps to buy cryptocurrencies within Skrill

First of all, talking about the purchase of cryptocurrencies in the Instant mode (which is the usual one), you will be able to do the following:

  • Select the currency in which you want to buy cryptos.

  • Set the amount to spend that, for its purposes, must be a minimum of 10 EUR (You are also shown the balance you have available).

  • Select the cryptocurrency in which you are going to invest.

  • See what you are going to receive in cryptos in equivalence for what you have invested.

  • See the commission you will be charged for that transaction.

When you have everything ready, then you can click Next.

After this, you will be able to see the summary of the entire operation; you will be told everything you have added, such as the amount and what you would receive, and also the commission charge, which will be added to the total amount to be spent. If you agree with everything, you can click on Confirm.

Steps to Sell Cryptocurrencies within Skrill

There is not much to comment on in the case of selling your cryptos within Skrill, as they are basically the same steps as in the case of the purchase:

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  • You establish the type of crypto that you are going to sell (and that logically, you should own).

  • You indicate the amount of cryptocurrencies to sell directly or, if you prefer, using the percentage indicators.

  • Select the currency in which you want to receive the funds in equivalence.

  • See how much you will receive, in the same way as the previous case.

Having this ready too, you would click Next.

Following this, you must also click on Confirm in a summary similar to that of the case of the purchase, where you will see important data with which, if you agree, you can proceed to the respective confirmation.

Some other options that Skrill gives you to trade

The options you have in Skrill to trade are very practical and easy to use. And for your convenience, they are not numerous. Here’s what you can find on Skrill for when you want to trade on it:

The Portfolio section

In this section you have at hand some useful things for your negotiations, such as:

  • The Watchlist, with which you can keep abreast of the indices of your cryptos in the market.

  • Alerts and orders. With these options you are given the possibility to mark an index within the cryptocurrency, which, if the price reaches it, this will be notified to your email or mobile, as you have it configured.

  • Recent activity. It is the section where you will get your last financial movements, when it comes to purchases and sales, as is logical.

The Trade section

Within this section, you can do what you are told below:

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  • Visualization of Graphs. This will allow you to take a look at the stock market movement in a not at all complex interface (you can also see the current trend that the market has in terms of sellers and buyers).

As you can see, the trading system within Skrill is not complicated. They are few and simple options, but with the same utility for people like you who do not want to get too entangled in the stock market issue, but to play it safe, but in a simple way.

This tutorial summarizes it this way so that you have a general idea when investing in cryptocurrencies within Skrill.

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