Governance of Ventures

In times of disruption, venturing becomes a key source of value creation. As new opportunities emerge and existing models fade, entrepreneurs, corporates and investors are eager to explore and exploit those opportunities. Venture governance, i. e. defining, implementing and following a fit-for-purpose model to provide direction and control in the best interest of all stakeholders, plays a crucial role in enabling and ensuring entrepreneurial value creation.This book presents twelve perspectives on the governance of ventures, bringing together viewpoints from both practitioners and academics. It provides practical insights, introduces new perspectives and invites the reader - whether a member of a venture board, an entrepreneur or an investor - to reflect on their own approaches to venture governance.

Introduction 5Section A: Foundations of Venture Governance 9Venture Governance – The Hidden Driver of Entrepreneurial Value Creation (Prof Dr Michael Hilb) 11The St Galler Startup Navigator as a Governance Tool (Prof Dr Dietmar Grichnik and Dr Manuel Hess) 24Free-Energy Governance – An Approach to Effective Venture Governance (Bijan Khezri) 36Leading and Overseeing Ventures – Fourteen Decisive Questions (Herman Arnold) 42Section B: Governance of Founder-led Ventures 47Venture Governance: How the Lean Startup Philosophy Changes the Work of the Board (Prof Dr Sebastian D Becker) 49After a Financing Round means before a Financing Round – The Role of the Investor in Venture Governance (Dr Thomas Duebendorfer) 57Ten Principles of an Effective Scale-up Board Member (Menno van Dijk) 64Corporate Governance in International High-Tech Startups (Prof Dr Rico J Baldegger) 69Section C: Governance of Corporate Ventures 77Mastering Corporate Startups – Opportunities and Challenges (Dr Thomas Sieber) 79A Principles-based Approach to Corporate Venturing (Jan Sedlacek) 86Cracking the Collaboration Codes – How to Succeed in Ecosystems (Prof Dr Michael Hilb) 97The Innovation Partnering Canvas – Getting Innovation Partners on the Same Page (Jan Paul Grollé) 107