From Intrapreneuring to Entrepreneuring

1
From Intrapreneuring to Entrepreneuring

• Early Stage Corporate Divesting

2
Intels New Business Incubator

• NBI Charter
• Identify and develop growth business
  opportunities for Intel
• What is NBI?
• Continuous Pipeline
• discovery ? first year revenue
• Portfolio mindset
• Managed costs, risk
• Dedicated staff and processes
• Protected environment
• Metrics driven - IRR and strategic impact
• Multiple Transition Options
• Internal acquisition, divestiture, early shut
  down

3
Why Early Stage Divestitures?

• Many investments, limited capacity to develop
• Generate returns
• Indirect value - General goodness, innovation and
  ecosystem development

Renewed interest driven by clarity of focus and
better understanding of Intels capacities,
strengths and weaknesses
4
Intel Specific ChallengesEarly Stage Spin outs

• People
• Optimization mania
• Paranoid to the core
• Experienced Investor
• Process heavy
• Think act big
• Transferable value proposition

5
Conclusions

• Invested corporations can be an valuable ally
  co-investor if you can get the deal done, plan to
  get ongoing value
• Corporations have many players and many
  objectives, find your empowered ally and stay
  connected
• The new venture will be significantly different,
  investors need to lead the change carefully but
  quickly