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GELLIFY’s Guide on 5 Types of New Venture Building

GELLIFY’s Guide on 5 Types of New Venture Building

Venture building refers to the process of initiating and expanding startups or businesses from scratch. Unlike conventional incubation or acceleration programs that impact existing startups, venture building entails starting from scratch and creating something that does not exist yet.

 

As a result, the process requires more hands-on effort: you need to develop an idea, create a product concept, build a value proposition, validate it in the market through a prototype, develop a minimum viable product, initiate sales, recruit an entrepreneur to lead the initiative (if not available), build a team, establish market traction, pivot (if necessary), and ultimately scale.

 

This approach is fraught with risk since each step involves exploring uncharted territories. Nevertheless, there is a tremendous opportunity to de-risk the startup creation process by validating value propositions, business models, market appeal, and customer needs step-by-step before launching into the market.

 

Once this process is rigorous and scientific, the venture building model transforms from a risky approach into an immensely powerful tool. For this reason, corporate innovation teams are increasingly turning to venture building to create new business units or spin-offs to stimulate innovation, growth, and impact overall enterprise value. At GELLIFY we identified 5 alternative models for creating and launching new ventures.

5 types of nvb

5 Types of New Venture Building by GELLIFY

 

  1. Novel: build and launch a new disrupting product from scratch
  2. Copycat: build and launch a copy of an existing successful product and give it your spin
  3. Technology exploitation: start from proprietary IP and tech assets to build a new product
  4. Forced acceleration: start from proprietary market assets to nail specific market opportunity
  5. Buy and Build: acquire external startups, IPs, technology, and build a new product upon them

 

Download the guide today and learn about the 5 types of New Venture Building and which one is ideal for your business.

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