#35: Venturing Forward: Insights and Innovations with Roy de Weerd of Rockstart
Hi, I'm Jeppe and welcome to my weekly newsletter on Corporate Venturing, released every week. My aim is to provide a comprehensive perspective on the latest developments in the field and its related topics, drawing from the insights of top management, venture capitalists, founders, LPs, and family offices. I aim to offer valuable information and thought-provoking content that will aid in understanding the importance of Corporate Venturing in business strategy.
Today we explore the dynamic landscape of corporate venture programs with Roy de Weerd , Strategic Partnerships Director at Rockstart . Rockstart, a leading venture accelerator, collaborates with key industry players to fuel growth and innovation in agri-food, energy, and emerging tech sectors.
Roy de Weerd: Background and Role at Rockstart
Roy de Weerd stands as the Strategic Partnerships Director at Rockstart, bringing a unique blend of expertise from the worlds of sports, business, and venture capital. His journey from a sports professional to a pivotal figure in the startup ecosystem is marked by his passion for team dynamics and strategic planning. At Rockstart, Roy is instrumental in forging meaningful connections between innovative startups and industry-leading corporations. His role involves identifying and nurturing promising entrepreneurs, especially in the agri-food, energy, and emerging tech sectors. Roy's approach combines an athlete's resilience with astute business acumen, making him an invaluable asset to Rockstart's mission. Roy's career epitomizes the seamless transition from sports strategy to business leadership, underscoring his versatility and vision.
Rockstart: Catalyzing Sustainable Innovation and Entrepreneurial Success"
Rockstart, established in 2011 in Amsterdam, stands as a premier accelerator and venture capital firm, focusing on nurturing startups in agri-food, energy, and emerging technologies. Recognized for its intensive accelerator programs, Rockstart equips startups with crucial funding, mentorship, and an extensive network of industry experts and investors. A notable collaboration is with Ørsted, the Danish energy company, where Rockstart's Propel program significantly advanced green energy solutions. This partnership exemplifies Rockstart's commitment to sustainable innovation and technological advancement. Rockstart's work extends to forging partnerships with major corporations, driving mutual innovation and business growth. The success stories of startups nurtured by Rockstart underscore its profound influence on the entrepreneurial landscape, empowering founders to turn innovative ideas into viable businesses. Rockstart's blend of startup acceleration and corporate collaboration underlines its vital role as a catalyst in shaping the future of sustainable and technological entrepreneurship.
3D Hubs' Remarkable Journey: A Rockstart Acceleration Success Story
One of the standout success stories from Rockstart's portfolio is the journey of 3D Hub. Roy recounts how 3D Hubs, originally encountered at a startup weekend event in Amsterdam in 2012, was encouraged to participate in Rockstart's accelerator program. The founders, initially working in corporate roles, were persuaded to leave their jobs and focus full-time on their venture. This decision proved pivotal as, through the support and guidance provided by Rockstart's program, 3D Hubs grew substantially. Their success culminated in the sale of the company in 2019 for approximately 300 million euros. This case exemplifies the significant impact that Rockstart's accelerator program can have on a startup's trajectory, turning innovative ideas into lucrative businesses.
Unraveling Misconceptions and Overcoming Challenges in Corporate Venture Programs
One prevalent misconception in corporate venture programs, as discussed by Roy, is the belief that launching an open call or venture program will automatically attract all relevant startups. In reality, good startups have numerous opportunities and will only engage if there's a compelling value proposition. Moreover, the scalability of startup solutions can pose a challenge, particularly when integrating into the larger scale of corporate operations. Support and co-creation are essential for aligning the rapid pace of startups with the corporate environment. Lastly, there's a misconception about the nature of working in corporate venturing. Far from being an added stress, it can be a fulfilling opportunity that brings out an employee’s innovative spirit and offers the chance to collaborate on impactful projects. Understanding and addressing these aspects are crucial for the success of any corporate venture initiative.
Strategic Insights for Success: Initiating and Enhancing Corporate Venture Programs
Roy emphasizes the importance of having a well-structured internal governance system as a starting point for corporations looking to initiate or enhance venture programs. He suggests defining clear roles within the program, including decision-makers, venture managers, and experts who align with the startups. A significant part of this process is ensuring that these internal teams have the mandate and ability to make key decisions and push the program forward. Roy also advises on the necessity of building a compelling value proposition for startups. This involves creating attractive conditions that go beyond vague promises of collaboration, which are crucial in attracting the right startups to the program. Working with partners like Rockstart or others can enhance the program's appeal, bringing more value to participating startups and ensuring the program's success
Wrapping Up: Key Takeaways from Our Dialogue with Roy de Weerd
In conclusion, our engaging conversation with Roy from Rockstart has illuminated the multifaceted world of corporate venture programs. From Roy's unique journey to the impactful success stories and strategic insights at Rockstart, we gain a deeper understanding of the potential and challenges in this dynamic field. This dialogue underscores the importance of structured governance, compelling value propositions, and addressing common misconceptions for the success of corporate venture initiatives. Roy's experiences and advice offer invaluable guidance for corporations looking to innovate and grow through strategic venture programs.
I hope you enjoyed this week's newsletter. If you have any suggestions or contributions that you would like to share with me, please do not hesitate to reach out. I would be delighted to hear from you.
/Jeppe