17 DHL Group partnered with the University of Bonn to develop Greenplan, a route optimization software. Though initially incubated within DHL, Greenplan was later spun out as a management-owned startup, demonstrating how venture building can transform ideas into independent businesses. General Mills formed a venture team, supported by a growth board, to explore consumer food-related challenges. This team conducted extensive experi- mentation before successfully scaling the most prom- ising solutions globally. Figure 5 suggests high engagement in venture building, more than 30%. But, in contrast from most Programs and Activities (which follow the overall engagement seen in Figure 4), the highest industry engagements for venture building are Construction, Manufacturing, and Energy and Utilities. Significant capital needs in those industries, combined with relatively low interest from entrepreneurs and VCs compared to high-tech, prompt corporations to step in. Key Components of Venture Building Programs Decision Model Organizations pursue venture building when they identify strategic gaps that cannot be addressed through tradi- tional M&A or external partnerships. Decisions to launch new ventures are typically based on market trends, emerging technologies, or internal innovation roadmaps. Corporate leadership, innovation teams, and external advisors assess feasibility, potential synergies, and long- term scalability before committing resources. Operational Integration New ventures often start as independent entities but maintain strong ties to the parent corporation. They may leverage corporate infrastructure, talent, and market access while operating with the agility of a startup. Over time, successful ventures may be fully integrated into the company or spun off as independent businesses. Governance & Scalability Venture building requires a structured governance mod- el where corporate leadership, venture teams, and ex- ternal partners collaborate to drive growth without the constraints of the established business. Investment decisions are made with a long-term strategic focus, balancing risk with potential market impact. Scalability depends on internal resource allocation, market vali- dation, and the ability to attract external funding as the venture matures. Ten years ago, venture building was a novelty in the corporate landscape. However, our data suggests that the practice is growing in popularity. “