January 10, 2025

#016 Venture University, Andy Goldstein

46 minutes

In this episode Christian Hüttenhein speaks with Andy Goldstein, an entrepreneur and experienced corporate venturing expert. They explore how large organizations can effectively structure and manage innovation to drive transformation. Andy introduces the concept of an Innovation Asset Portfolio and highlights the importance of tracking innovation spending. The conversation also delves into the distinctions between partnerships and client relationships in the startup ecosystem, offering valuable insights on how companies can shape successful innovation strategies. Additionally, they discuss the role of Corporate Venture Capital (CVC) and how it can be leveraged for maximum impact.

Takeaways:

Andy Goldstein is a serial entrepreneur with extensive experience in corporate venturing.

Corporates must innovate to stay competitive in today's market.

An Innovation Asset Portfolio can help corporates track their innovation efforts.

Structure is essential for managing innovation effectively.

Many corporates fail to recognize and manage their innovation assets properly.

The venture client model allows corporates to test startups before investing.

Innovation should be quantifiable and tracked like any other investment.

The relationship between corporates and startups can vary significantly based on the engagement model.

Understanding the value of innovation assets is crucial for corporate success.

Corporate finance departments often lack the knowledge to manage innovation assets. The distinction between partnering and clienting is crucial for corporates.

High interest rates and a weak economy present challenges for corporates.

Accessing breakthrough technology is essential for corporate success.

CVCs often lack the structure and talent of traditional VCs.

Understanding the corporate landscape is vital for CVC success.

Venture University offers a practical approach to learning VC.

Real investment experience is key to understanding venture capital.

Family businesses require clear boundaries between work and personal life.

Effective leadership involves inspiring others to exceed their own expectations.

Honesty and transparency are fundamental in leadership.

Chapters:

00:00 Introduction to Andy Goldstein's Journey

02:48 The Corporate Experience: Insights from Deloitte

05:49 Understanding the Current Venture Landscape

09:06 Innovation Asset Portfolio: A New Approach

11:56 The Importance of Structure in Innovation

14:53 Navigating Corporate Innovation Challenges

17:58 The Role of Evaluation in Corporate Innovation

20:46 Differentiating Between Partnering and Clienting

23:25 Understanding Corporate Partnerships vs. Client Relationships

24:17 Navigating Economic Challenges and Opportunities

25:12 The Role of Corporate Venture Capital

27:30 Choosing Between CVCs and Traditional VCs

29:57 Introducing Venture University

33:39 The Ideal Profile for Venture University

39:16 Balancing Family and Business

44:14 Leadership Insights and Advice

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Mehr über Christian Hüttenhein:

Unternehmen: ⁠⁠https://www.pexus-ventures.com/⁠⁠

Person: ⁠⁠https://www.christian-huettenhein.com⁠⁠

LinkedIn: ⁠⁠https://www.linkedin.com/in/christian-huettenhein/⁠⁠

YouTube: ⁠⁠https://www.youtube.com/@ChristianHuettenhein⁠⁠

Kalender: ⁠⁠https://calendly.com/huettenhein⁠⁠

Buch: ⁠⁠https://venture-clienting-book.com/⁠⁠

Community: ⁠⁠https://www.venture-client-roundtable.com/

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By Christian Hüttenhein