🗺️ Venture Clienting at Siemens visualized 💡
This map illustrates where Siemens sources its startup technology. The data points shown are gathered from publicly available case studies, reference customers, and Open Innovation events where Siemens’ innovation teams showcase their most impactful partnerships. So the actual number of partnerships is likely to be higher.
It’s also important to note that we haven’t included any Proofs of Concept (PoCs) enabled directly through our work with Siemens.
The decision to publish PoCs is up to Siemens and the startups involved.
A key takeaway from this map is the comparison between Siemens’ annual R&D budget and the total venture capital raised by their partnered startups. While the €21B in VC funding spans multiple years, Siemens’ R&D budget of €6.2B is for 2023 alone.
Nonetheless, the contrast reveals Siemens’ ability to leverage substantial external capital without having to raise it themselves.
Siemens also stands out for partnering with more advanced startups (measured by VC raised per partner) and for fostering highly international collaborations. For example, we identified 96 partnerships with U.S. startups, collectively raising €10.8B.
A big shoutout to the fantastic work of Danijel Grabovac, Dr. Annika Hauptvogel, Dr. Julian Boha, Andreas Schertl, Quang Mai Thy Le, Johan Tuulse, Alexandra von Frankenberg and many others who contributed to this success! (Some partnerships might even surprise you as they were likely established through traditional procurement channels.)
For fellow #VentureClienting professionals: I use visuals like this to convey the advantages of systematically partnering with startups to executive boards. Working with startups is not new, all companies do it!
But Venture Clienting offers a way to professionalize and systematise collaboration taking it to the next level really, which is why the term exists.
For more insights and similar maps, visit: https://lnkd.in/dg9tFxnt
