With the reduced cost of software development and the growth of alternative financing platforms, it is now easier than ever to create startups. However, the low entry barrier also increases the number of players and competition for market shares. Starting a business is often a chaotic and risky process. With the time needed to build a team and secure funding, an entrepreneur has to put everything on the line for a small chance at success. Global Innovation Ecosystem’s Collaborative Venture Labs (CVLs) are a way to mitigate startup risks by democratizing the startup world. By applying the spirit of collaboration and rapid iteration to the startup process, an entrepreneur no longer has to brave the startup process alone, but can move forward with a global team of industry insiders, like-minded innovators, and the backing of a local investors and a venture capital firm for both early and later stage financing.
The CVLs are a core component in the Ecosystem, and are responsible for the business creation side of the process. They are industry specific think tanks focused on helping the CVL’s Communities hone in on viable business hypotheses.
CVL Team Components
The CVL Partner is the head of the CVL and is in charge of coordinating and monitoring its activities, communicating the status of the Labs
and Portfolio Companies to the CVL’s Angels and the Venture Capital fund.
Coordinate and monitor CVL activities
Lead the brainstorming sessions with the Mentors and document the list of opportunities
Identify and establish contact in different organizations like universities to form Communities
Report progress of the Portfolio Companies to the Mentors and Investors
Work with the CVL Communities to generate one good business hypothesis per Community every month
The Mentors are industry leaders and veterans that act as guides for the CVL and its Portfolio Companies. They convene once a month in a
virtual brainstorming session lead by the CVL Partner to come up with a list of Missions for the CVL to pass to its Communities.
In addition to helping brainstorm opportunities, a Mentor can offer advice to a CVL’s Portfolio Company in exchange for equity. If a Mentor decides to become more involved in a Portfolio Company beyond the initial advising, he or she can do so by negotiating for more equity from the Portfolio Company. In this way, the Mentorship role serves as a way for industry veterans to mitigate the risk of joining a startup by gradual scaling up their involvement in a company, and also allows industry veterans and academics to monetize their experience and connections.
Help aspiring entrepreneurs hone in on viable business ideas
Receive equity or cash stakes in exchange for the following activities:
Give feedback to Communities’ elevator pitch solutions to the Missions to hone in on business hypothesis
Offer basic advice to the CVL’s business hypothesis teams and Portfolio Companies (in exchange for 1% equity)
Become more involved in high potential Portfolio Companies (in exchange for more equity)
Convene once a month for a optional brainstorming session to generate a list of industry Missions
Advise CVL Partner on industry trend