Showstoppers in venture clienting: How innovation doesn't get stuck

Venture clienting can be an innovation turbo for companies - if showstoppers are recognized in time. Dominik Schütz shows what hurdles there are and how to overcome them.

There are many good ideas - but who makes them big? Lots of innovation projects start with a lot of enthusiasm. And yet only a few solutions make it into everyday business life. Innovation rarely fails because of the idea itself. Rather, success depends on whether topics are strategically anchored, resources are provided and progress is actively managed. We took a particularly close look at six key challenges when setting up the LBBW Venture Client Model. Because if you recognize these showstoppers early on, you can take targeted countermeasures - and thus drive innovation forward at full speed.

Showstopper #1: Without a strategy, there are only chance hits

Many companies invest in exciting pilot projects without clarifying what happens afterwards. The technology works - but there is no clear follow-up strategy.

Our solution: Successful venture clienting starts with the right questions: What problem should be solved? How does the solution fit in with the corporate strategy? And who is responsible for implementing it? At LBBW, this is exactly where we start: Every venture clienting project starts with ensuring the strategic relevance of the topic and continues with a structured venture clienting process that ensures business impact.

Showstopper #2: Lack of priority, lack of resources

"Sounds exciting, but..." - start-ups often hear this sentence. Departments are interested in new solutions, but usually don't prioritize them clearly enough: no budget, no time. Although innovation is not openly rejected, it is too often sat out.

Our solution: Successful venture clienting requires clear commitment, a secure budget and sufficient capacity right from the start. We disclose at an early stage which financial and human resources are necessary to ensure successful implementation - and what added value this will create for the specialist area. Our Venture Clienting team then keeps the process consistently on track and ensures that the project does not get lost in day-to-day business, but progresses in a structured manner.

Showstopper #3: Corporate mills grind too slowly

Long coordination processes, slow approval processes and endless risk analyses can prevent even the best innovation. The fact is: if you take too much time to make a decision, you've already made it - and unfortunately, it's against innovation.

Our solution: understand speed as a strategy. If you take innovation seriously, you have to make decisions quickly and keep processes lean. At LBBW, we create structures that promote innovation in a targeted manner without sacrificing the necessary stability and security. In addition, transparent reporting to management ensures that we have the necessary buy-in to make decisions quickly.

Showstopper #4: Contract negotiations become an endless loop

Even if everything fits - business case, technology, commitment - contracts can become a stumbling block. Contractual and purchasing conditions that are tailored to large, established suppliers often slow down collaboration with start-ups: In the worst case scenario, there is no collaboration at all due to a lack of resources to deal with the contractual requirements. Even though both sides would benefit from a partnership.

Our solution: Close cooperation with colleagues from Legal and Procurement makes it possible to develop pragmatic solutions and coordinate them at an early stage. Standard contracts, tailored to venture clienting, create a reliable basis and significantly shorten negotiations. Checklists with non-negotiable points, so-called "red flags", have proven to be particularly helpful. This prevents negotiations from going nowhere in the first place. This keeps the focus on the essentials: innovation.

Showstopper #5: Recognizing technical hurdles too late

The best idea is useless if it is incompatible with the existing IT landscape. All too often, it only becomes clear during the pilot phase that interfaces are missing or security requirements are not met.

Our solution: consider technological feasibility right from the start. We check whether a solution can be seamlessly integrated into our processes as early as the matching phase with the potential startup.

Showstopper #6: Unclear responsibilities

A successful pilot is only the first step. But who ensures that the solution really scales and is used in the long term? Many projects fizzle out because no one takes responsibility.

Our solution: every venture clienting project needs a clear owner - someone who not only understands the problem, but also has the assertiveness to anchor a solution in the long term.

Venture clienting needs clarity, courage and structure

Innovation does not happen on its own - it needs structure, speed and, above all, clear responsibilities. Venture clienting can give companies a real head start if showstoppers are recognized and eliminated at an early stage. Our approach at LBBW: clear processes, quick decisions and a corporate culture that not only allows innovation, but specifically promotes it. In this way, we ensure that good ideas do not fizzle out - but are made big.