Definitions

Working definitions of venture building and venture builder used in this study.

Working definitions for this study

These are working definitions for this EC mapping study. They build on existing literature but are adapted to fit the study's scope - which covers university, research-linked, and publicly mandated builders, as well as the more common commercial models.

Activity

Venture building

The activity - what venture builders do

Venture building is the systematic creation of new companies, with the organisation actively involved from the idea or pre-formation stage. It means:
finding or developing a business opportunity
assembling a founding team
providing ongoing operational, financial, and strategic support
This is done across a portfolio of ventures, using shared methods, resources, and accumulated knowledge.
Venture building differs from one-off startup creation because it is repeatable and portfolio-level. It differs from startup support (like incubation or acceleration) because it involves co-founding and co-operating, not just helping from the outside.

Systematic & repeatable - not one-offPortfolio-level - not a single companyCo-founding & co-operating - not advisoryFrom idea or pre-formation - not post-formation support

Organisation

Venture builder / venture studio

The organisational form - what a venture builder is

A venture builder - also called a venture studio or startup studio - is an organisation that builds new companies as its core activity. It can be:
independent
part of a company
or part of a university or research institution
For this study, an organisation qualifies as a venture builder only if it meets all four criteria below.

Venture creation role

Do they start the venture?

The organisation plays a main role in starting or shaping a new venture. It may:

create ideas itself, or
actively develop external ideas or intellectual property

This happens before the venture is formally created.

Note: This is the most important criterion. It separates venture builders from accelerators, incubators, and venture capital, which work with ventures that already exist in some form.

Hands-on building role

Do they actively co-build the venture (not just advise or invest)?

The organisation is directly involved in building the venture. It contributes hands-on by providing:

talent
infrastructure
methods and tools

It works inside the venture during formation and early stages - not only advising or investing, but actively part of building the company, similar to a co-founder role.

Note: Advisory alone is not enough. Funding alone is not enough. The organisation must be actively involved in building the venture.

Value stake

Do they benefit from the venture's success?

The organisation keeps a meaningful stake in the ventures it creates. This may include:

equity
licensing
revenue-sharing
or similar mechanisms

The exact structure can vary depending on the organisation and legal context.

Note: This includes non-equity models, especially in universities or public institutions.

Portfolio model

Do they do this repeatedly across multiple ventures?

The organisation builds multiple ventures using a structured and repeatable approach. It:

works across a portfolio of ventures
uses shared resources and processes
reuses knowledge across ventures

This creates a system where learning compounds over time.

Note: One-off venture creation does not qualify. The key requirement is a repeatable, portfolio-level model.

Scope: There is no required legal structure, ownership model, or fund size. Venture builders can take many forms, including:

independent organisations
corporate units
university or research-linked entities
publicly mandated organisations

All are included if they meet the four criteria above.

The value stake criterion allows for different structures - including equity, licensing, and revenue-sharing - so that academic and public-sector models are also covered.

How venture builders differ from adjacent models

These models support ventures. Venture builders create and build them.

Each model is described by what it does - and what it does not do, compared to a venture builder (venture creation, hands-on building, value stake, portfolio model).

Accelerator

Time-limited (typically 3–6 months) and cohort-based. Works with ventures that already exist.

Provides:

mentorship
network access

May provide a small amount of funding, but not always.

Does not co-found or actively build the venture. Does not take a hands-on, co-building role.

When equity is taken, stakes are usually small (often below 10%) - but many accelerators take no equity at all.

Incubator

Provides workspace and basic support services.

Acts mainly as:

a service provider
a host environment

Does not:

start ventures
actively build ventures
take a co-founder role

Does not operate a systematic venture creation model.

Venture capital fund

Invests capital into ventures founded by others.

Adds value through:

board roles
network
strategic input

Does not:

start ventures
build ventures
take an operational role

Remains external to the founding team.

Corporate venture capital (CVC)

A corporate investing in external startups.

Typically:

takes minority equity stakes
operates as an outside investor

Does not:

build ventures internally
act as a co-founder

In contrast, a venture builder creates and builds ventures from within the organisation.

Corporate venture builder

A venture builder inside a corporation.

Meets all four venture builder criteria
Also has a strategic role aligned with the parent company

Acts as:

a venture builder
and a corporate strategy tool

Included within scope.

Tech transfer office (TTO)

Focuses on:

intellectual property protection
licensing

Typically does not:

co-found ventures
build ventures
take a hands-on operational role

Only qualifies as a venture builder if it:

actively co-builds ventures
embeds operational support
and retains a meaningful value stake

Most TTOs do not meet these conditions.

Note on terminology

This study treats "venture builder", "venture studio", and "startup studio" as synonymous. Where meaningful operational distinctions exist - particularly regarding the source of venture ideas or the degree of external co-founder involvement - they are treated as typological variables within the venture builder category, not as grounds for separate categorisation.