In an article for Harvard Business Review last year after his brush with cancer, professor Clayton Christensen said: "Don’t worry about the level of individual prominence you have achieved; worry about the individuals you have helped become better people."
This advice sums up the intent behind the shortlist for the inaugural Global Corporate Venturing Awards & Best Practices 2011, revealed this week.
You can click here to see the firms celebrated in the shortlist but the intent is less to have a winner-takes-all than to identify and promote the practices that allow some firms to achieve great things.
The unique role of most corporate venturing units in having to deal with the politics and demands of a usually large parent company while finding and dealing with great entrepreneurs is probably one of the most challenging in the modern business world. But, when accomplished successfully, corporate venturing is a good way to help entrepreneurs achieve their dreams and allow companies to adjust and change with the market.
Out of this challenging environment, therefore, have come some very good investors and well-organised teams but also an industry that is overall remarkably open to helping others and new ideas.
In his article, How will you measure your life?, built from his teachings at Harvard Business School, Christensen said: "Generally, you can be humble only if you feel really good about yourself-and you want to help those around you feel really good about themselves, too. When we see people acting in an abusive, arrogant, or demeaning manner toward others, their behaviour almost always is a symptom of their lack of self-esteem."
He added that humility was defined not by self-deprecating behaviour or attitudes "but by the esteem with which you regard others".
The Global Corporate Venturing Symposium and evening Banquet on May 18 in London are an opportunity to put the industry into its proper context – what can be improved and what works well. (Click here for details and agenda.)
As a note about the May issue of Global Corporate Venturing for subscribers and event delegates, it is effectively to be split into two parts, the main magazine out this week with a supplement on the best practices sent on the 18th.
The June issue will have highlights from the day, and delegates can use the Global Corporate Venturing LinkedIn event subgroup to set up meetings with each other and have a forum for discussions.
I’m looking forward to seeing you there at what will be the first anniversary of my publishing company. My thanks for the event to strategic partners Frost & Sullivan, H-I Network, Gary Dushnitsky at London Business School, but especially the advisory board. Also, the event would not be possible without the pecuniary and associated support of sponsors SVB, Field Fisher Waterhouse and Dow Jones – others will be most welcome.