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Btomorrow Ventures (BTV), the venturing unit of British American Tobacco, is a CVC unlike the rest, in the sense that While the typical aim of corporate venturing is to complement and innovate on top of its parent company’s business, BTV’s main purpose is to help its tobacco producing parent to move away from its core product and into new categories that will create growth in the future.
Lukasz Garbowski, investment director at BTV, joins the pod to talk about the unit’s unique approach, how it thinks about the new product categories that can leverage BAT’s existing strengths, the challenges involved in convincing health-focused startups that they are a good fit, and the work the unit does not just investing, but introducing non-portfolio startups to BAT through its Labs programme.
“Funky Chunk” Kevin MacLeod (incompetech.com)
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