Venture Challenge
Venture Challenge
Identify and assess business and innovation opportunities, assemble a team around the most promising ones, and help incubate and accelerate these opportunities as new ventures.
Identifying, shaping and scaling new ventures is a pathway to growth that is far superior than the results achieved through incremental growth, and many companies choose to take that route when it comes to innovation.
At Nosco, we are strong believers in the power of employees in discovering, incubating and accelerating new ventures. Our venture challenge helps identify and assess business and innovation opportunities, build a team around the most promising opportunities, and help incubate and accelerate the new ventures. The result is rapid validation of opportunities, enabling the company to quickly get to the next decision point. Compared to regular development processes, the venture challenge is an effective means of exploring a wide range of opportunities fast and without the need for extensive upfront investment. The collaborative approach allows companies to explore multiple opportunities simultaneously, increasing the likelihood of identifying viable and impactful opportunities.
We help you
Define
· Assess the relevant type of challenge
· Align on focus and approach
· Plan key activities and milestones
· Align on focus and approach
· Plan key activities and milestones
Engage
· Engage management and key stakeholders
· Identify key people for screening panels, etc.
· Mobilise colleagues
· Identify key people for screening panels, etc.
· Mobilise colleagues
Run
· Facilitate or co-facilitate key events: mobilisation, idea sharing kick-off, screening workshops, etc.
· Train teams how to shape and run ventures
· Help drive ventures as project managers or coaches
· Train teams how to shape and run ventures
· Help drive ventures as project managers or coaches
Facilitate
· Process- and planning workshop
· Mobilisation events: idea generation workshops, kick-off events etc.
· Screening workshops: evaluation of early-stage ideas and selection of learning opportunities
· Bootcamp: training of teams in idea maturation
· Final event: Dragon’s Den-style meeting to determine which ideas to invest in
· We are experienced in running both physical and online workshops and meetings
· Mobilisation events: idea generation workshops, kick-off events etc.
· Screening workshops: evaluation of early-stage ideas and selection of learning opportunities
· Bootcamp: training of teams in idea maturation
· Final event: Dragon’s Den-style meeting to determine which ideas to invest in
· We are experienced in running both physical and online workshops and meetings
Train
· Idea generation: what is a good idea, where do they come from, problems or needs to solve.
· Idea maturation: value propositions, business models, pitch training. · Incubation: market validation, pretotyping, business case viability
· Idea maturation: value propositions, business models, pitch training. · Incubation: market validation, pretotyping, business case viability
WHAT’S IN IT FOR YOU?
High-potential opportunities
Identified and developed high-potential opportunities from within the organisation, backed by management.
Training in entrepreneurship
Hands-on training in tools and methods for developing and validating innovation opportunities and business ventures.
Retain employees
Provide high-value employees that are not interested in the traditional leadership career path with an attractive alternative.
Quick validation of projects
Critical uncertainties tested fast and with little investment, making it possible to accelerate, or park, projects fast.
Build a culture of entrepreneurship
Build a competitive internal venturing model that train employees in entrepreneurship and provides them with methods that can be applied across other work.
“Our entrepreneurship program developed together with Nosco has been a key driver for our cultural transformation to become a more connected and innovative company”
Carlos Martinez Cristancho, Evonik
CASES
Check out our cases below to see how Venture Challenges are helping companies build a culture of innovation.
SUPPORTING FEATURES
How our platform supports the Venture Challenge
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