Every corporate venturing and corporate innovation programme is about to face what Greg Larkin likes to call the “f*** you, pay me meeting”. This is the meeting in which the team has to prove their value to the bottom line of the parent business — or they end up getting cut.
Larkin is a change management consultant, founder of Punks & Pinstripes, a network of transformation executives at Fortune 500 companies, and the author of This Might Get Me Fired, a book about intrapreneurship.
Larkin isn’t against innovation and venturing — but he wants it to be framed more seriously. This isn’t something fluffy and optional. This is about solving the serious technology talent retention problems that large incumbent companies have for example. Larkin recently examined where laid-off Tesla workers are going. It isn’t to any of the big automakers, and that is a problem.
In this interview with Global Venture Review, Larkin sets out his case for where companies are going wrong on innovation and venturing — and how to fix it.