Entrepreneurship is a magical thing. Creating a valuable company from whole cloth. A new product, brand, institution, culture – all can be invented in the classic tradition of Thomas Edison.
Yet like most magic, it isn’t as easy as it looks. In a recent survey of top CEO Challenges, CEOs cite “stimulating innovation and creativity and enabling entrepreneurship” as one of the top 10 challenges they face, and 24% said it was “of greatest concern.”
Yet on the other side of the economy, in the start-up hemisphere, entrepreneurship is flourishing. My fellow Venture Capitalists report that the flow of business ideas, plans and innovations has never been at a higher level.
So why is it that inside the big corporation, stimulating innovation is so hard, while at the same time VCs are awash in innovative business plans and people?