You know the joke that went along with the merge of Nokia by Microsoft? It went like this: Do you know where Nokia met Microsoft? At the train station when they missed their train... the same thing is now happening to ŠKODA AUTO a.s. in China, and apparently not only there. Are we witnessing the end of the dominance of Western cars in world markets, because China is no longer the derided outsider and has quietly taken over the Middle East (saw it recently in Saudi Arabia) and is moving further westwards?
An economist Dominik Stroukal recently said: We are unable to renew the most creative and productive factor or natural resource we have, human creativity. I can't agree more. So are we at the verge of such a great leap or even greater fall? The right answer actually isn't "out there happening" and won't be decided by governments or c-level executives. It's in you and me.
As we almost head into 2023, the venture building landscape is looking more and more attractive for companies. The COVID-19 pandemic has forced companies to think outside the box when it comes to building their businesses. Many areas that were "nice to have" (such as ESG for example) changed over night into pure survival due to the soaring energy prices, missing supplies and fade of the talents quietly quitting or greatly resigning.
Venture builders have stepped in to fill the void, providing much-needed resources to bring growth. The trend is expected to continue in the new year, as more and more companies turn to venture builders to get their businesses off the ground.
What is a venture builder and why are they growing in popularity? It's for a number of reasons. First, the COVID-19 pandemic has made it more difficult for startups to raise capital. Traditional VC firms have been hesitant to invest in early-stage companies during the pandemic, leaving many startups without the funding they need to grow. Venture builders have stepped in to fill the void, providing much-needed resources to help startups grow. Second, venture builders are more hands-on than traditional VC firms. They take an active role in helping startups grow and scale, rather than simply providing capital.
Entrepreneurs in residence (EIRs) are a type of venture builder. EIRs are experienced entrepreneurs who work with startups to help them grow. EIRs typically have a deep understanding of the startup ecosystem and can provide valuable mentorship and resources.
Many industries are ripe for disruption, and venture builders are well-positioned to help companies in these industries grow. It is expected to see more venture builders emerge in industries such as healthcare, education, and food and beverage. Because if a companies don't innovate, they will likely struggle to grow. Without innovation, a company will likely be stuck in a cycle of decline.