This II Corporate Entrepreneurship Report in Spain starts with the impulse of the Santander Entrepreneurship International Center (CISE) and has been promoted by Academics from ICADE, Deusto Business School and the Autonomous University of Madrid, together with various business executives, including Pablo Penas, CEO from Scale Up Partner.
In a few years, corporate entrepreneurship has gone from being an unknown reality in large companies to becoming one of the most recurring areas of action in any strategic plan. Faced with an increasingly changing and competitive scenario, companies have seen in corporate entrepreneurship a way to adopt the successful innovation models characteristic of startups, either by building collaboration bridges with them, through open innovation formulas, or promoting entrepreneurial spirit of their own workers.
The purpose of the study is to update the I Corporate Entrepreneurship Report in Spain carried out in 2017. At that time, and through a representative sample of 35 large companies, whose accumulated turnover represented more than half of the total capitalization of the IBEX 35 index, it was concluded that nearly 80% of large companies had developed programs to attract entrepreneurial talent. However, and according to data from the Global Entrepreneurship Monitor (GEM) report, our country was far below its European peers in terms of penetration of the phenomenon in their companies. The conclusion then was that large companies expressed even more wishes than realities.
This II Corporate Entrepreneurship Report in Spain has used a broader database of companies, exactly 58, which represents more than 65% of the capitalization of the IBEX 35 with a combined turnover of 379,000 million euros. The study concludes that 84.5% of large companies actively promote corporate entrepreneurship (a five point increase compared to 2017) and 86% of them promote open innovation compared to 23% in the previous report. In addition, this second report has sought to introduce a very practical approach when studying the main corporate entrepreneurship tools used by successful companies.
The main conclusions drawn from the report are as follows:
- The commitment to corporate entrepreneurship in Spain is very recent and not always structured.
- The companies consider that the activity in this field will grow within their organization in the coming years.
- The corporate entrepreneurship programs with the least implementation are those of a financial nature, despite the fact that they are key for new initiatives to scale up.
- It will be difficult to obtain ascendancy over the entire company if the managers responsible for corporate entrepreneurship are not present in the highest governance bodies.
- In Spain there are a series of initiatives that stand out for their avant-garde character and their results, so that they can be classified as good practices at the international level.
- The impatience of the CEOs to obtain results in the short term has become an obstacle to consider.
In addition, the report makes a series of recommendations based on the evolution of the organizations studied in the two corporate entrepreneurship reports of 2017 and 2019 and which are summarized as follows:
- Place those responsible for corporate entrepreneurship in the top management of the company.
- Establish sandboxes for corporate entrepreneurship that avoid corporate bureaucracy.
- Introduce long-term evaluation indicators to monitor the impact of this activity.
- Learn from others, but develop a corporate entrepreneurship policy ex novo.
- Promote governing bodies of corporate entrepreneurship with the presence of external professionals
- Ambition in the scope of the corporate entrepreneurship strategy that makes possible the use of powerful tools.
You can access the executive summary of the report in this link.
It has been a pleasure for Scale Up Partner to have been able to contribute to the preparation of this study.