Executive summary

Risk and reward in new ventures

Key findings

Research methodology

Acknowledgements

Chapter 1: Introduction

The challenge of managing innovation

Corporate venturing

The corporate venture unit

Mobilising talent

Chapter 2: Personal risk and reward

The nature of personal risk

What is at stake?

Risk, motivation and incentive alignment

The nature of personal reward

The role of reward management

Chapter 3: The corporate venturing process

A model of corporate venturing

Idea generation

Plan and build

Launch

Chapter 4: The corporate venturing context

The individual context

Reward and the individual

Risk and the individual

Individual contributions

The organisational context

Sharing resources

Internal equity

Salary structures

Rewarding the support team

Sharing rewards

Goal conflict and goal congruence

Communicating values

The environmental context

Attracting outside talent

The impact on the venture process.

Chapter 5: Managing risk and reward

Reward and value creation

Balancing risk and reward

Dealing with failure

Focusing reward systems

Beyond launch

Beyond corporate venturing

Chapter 6: Case studies

Unilever (Insense)

Powergen (Spark)

British Airways (London Eye)

Chapter 7: Conclusion

Nurture creativity and innovation

Develop an entrepreneurial culture

Create new stakeholder value

References

End notes

List of figures

Figure 1 Risk and reward

Figure 2 Intrinsic and extrinsic rewards

Figure 3 Risk and reward in the new venture process

Figure 4 The corporate venturing process

Figure 5 The changing level of personal risk in new business development

Figure 6 Risk and reward in context

Figure 7 Balancing risk and reward—personal perceptions

Figure 8 Focus of reward systems in new business development