A new generation of entrepreneurs has started to think differently about the purpose of a venture, its values, organizational design, collaboration, sharing and (equity) ownership. With such intentional background, the set-up of those ventures is lean, open and collaborative. Open Incubation is a venture governance model for lean, open and collaborative venture teams. It allows the participants to quickly agree on contributions & rewards and the rules of engagement.
Ventures that apply the Open Incubation model share four general characteristics:
- A group of potential founding partners – the venture team – share a vision to develop a new solution, product or service
- The venture team follows an agile development and open collaboration approach
- The balance between contribution and rewards & benefits goes beyond salary and equity incentives
- Full transparency enables trust among the participants and to develop shared values
Continue reading the next post of the Open Incubation Playbook