Skip to main content

LUP Student Papers

LUND UNIVERSITY LIBRARIES

From Software Consulting to Venture Building: A Case Study on Venture Studio Business Models

Magneteg, Hugo LU and De Maré, William LU (2023) INTM01 20231
Innovation Engineering
Abstract
This master's thesis explores the relatively unexplored phenomenon of venture studios (also known as venture builders or startup studios), which are companies that systematically and concurrently build startups. Despite their growing popularity, the academic literature on how venture studios operate is still limited and no structured and extensive description of the business model appears to exist. This study aims to fill this gap by conducting a case study on six Swedish venture studios, interviewing co-founders, CEOs, and COOs to provide a clear and structured description of the business model.
The business model canvas framework is used to present a generalizable venture studio business model identifying central elements such as a... (More)
This master's thesis explores the relatively unexplored phenomenon of venture studios (also known as venture builders or startup studios), which are companies that systematically and concurrently build startups. Despite their growing popularity, the academic literature on how venture studios operate is still limited and no structured and extensive description of the business model appears to exist. This study aims to fill this gap by conducting a case study on six Swedish venture studios, interviewing co-founders, CEOs, and COOs to provide a clear and structured description of the business model.
The business model canvas framework is used to present a generalizable venture studio business model identifying central elements such as a split workload allocation between consulting and venture building, a revenue division between capital and equity, a broad range of business and technology expertise as well as a structured approach to developing companies. The results are then compared with the business model of a software consulting firm, Backtick Technologies AB, highlighting key obstacles and possibilities for implementing the model.
The authors’ final strategic recommendation for Backtick is to consider implementing a complete venture studio model, working with both internal and external business ideas, as they can leverage their technological expertise and product building capabilities while needing to strengthen their competence in necessary areas such as business development, recruitment, and investment sourcing. This study's main contribution, however, lies in providing a better understanding of how venture studios operate. (Less)
Abstract (Swedish)
Detta examensarbete utforskar det relativt outforskade fenomenet venture studios (även känt som bolagsbyggare, venture builders och startup studios), vilka är företag som systematiskt bygger bolag. Trots att antalet venture studios ökar så är akademisk forskning kring ämnet relativt begränsad. Denna studie syftar till att fylla denna kunskapslucka genom att genomföra en fallstudie på sex svenska venture studios, där medgrundare, CEOs och COOs intervjuas för att skapa en tydlig och strukturerad beskrivning av affärsmodellen.
Affärsmodellen presenteras med hjälp av ramverket business model canvas för att identifiera centrala element såsom en fördelning mellan konsultverksamhet och bolagsbyggnad, en intäktsfördelning fördelad mellan kapital... (More)
Detta examensarbete utforskar det relativt outforskade fenomenet venture studios (även känt som bolagsbyggare, venture builders och startup studios), vilka är företag som systematiskt bygger bolag. Trots att antalet venture studios ökar så är akademisk forskning kring ämnet relativt begränsad. Denna studie syftar till att fylla denna kunskapslucka genom att genomföra en fallstudie på sex svenska venture studios, där medgrundare, CEOs och COOs intervjuas för att skapa en tydlig och strukturerad beskrivning av affärsmodellen.
Affärsmodellen presenteras med hjälp av ramverket business model canvas för att identifiera centrala element såsom en fördelning mellan konsultverksamhet och bolagsbyggnad, en intäktsfördelning fördelad mellan kapital och aktier, en bred kunskap inom affärsutveckling och mjukvaruutveckling samt en strukturerad process för att bygga bolag. Undersökningens resultat jämförs sedan med affärsmodellen för IT-konsultfirman Backtick Technologies AB, för att identifiera centrala hinder och möjligheter kring en implementation av affärsmodellen.
Författarens slutliga strategiska rekommendation för Backtick är att överväga att implementera en komplett venture studio-modell, där man arbetar med både interna och externa affärsidéer, där bolaget kan dra nytta av sin tekniska kompetens och förmåga att bygga produkter samtidigt som de behöver stärka sin kompetens inom områden som affärsutveckling, rekrytering och att säkra investeringar. Studiens huvudsakliga bidrag ligger därutöver i att skapa en allmän förståelse för hur venture studios verkar. (Less)
Popular Abstract
In today's business landscape, startups play a crucial role in driving sustainable innovation. However, a significant number of startups face an unfortunate fate, failing within just a few years. As a result, a new startup support actor, the venture studio, has emerged. This thesis paper has, through an extensive case study, produced a structured presentation of the venture studio business model.
Please use this url to cite or link to this publication:
author
Magneteg, Hugo LU and De Maré, William LU
supervisor
organization
course
INTM01 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
venture studio, venture builder, startup studio, startup support, business model, business model innovation
language
English
id
9121711
date added to LUP
2023-06-14 12:14:02
date last changed
2023-06-14 12:14:02
@misc{9121711,
  abstract     = {{This master's thesis explores the relatively unexplored phenomenon of venture studios (also known as venture builders or startup studios), which are companies that systematically and concurrently build startups. Despite their growing popularity, the academic literature on how venture studios operate is still limited and no structured and extensive description of the business model appears to exist. This study aims to fill this gap by conducting a case study on six Swedish venture studios, interviewing co-founders, CEOs, and COOs to provide a clear and structured description of the business model.
The business model canvas framework is used to present a generalizable venture studio business model identifying central elements such as a split workload allocation between consulting and venture building, a revenue division between capital and equity, a broad range of business and technology expertise as well as a structured approach to developing companies. The results are then compared with the business model of a software consulting firm, Backtick Technologies AB, highlighting key obstacles and possibilities for implementing the model. 
The authors’ final strategic recommendation for Backtick is to consider implementing a complete venture studio model, working with both internal and external business ideas, as they can leverage their technological expertise and product building capabilities while needing to strengthen their competence in necessary areas such as business development, recruitment, and investment sourcing. This study's main contribution, however, lies in providing a better understanding of how venture studios operate.}},
  author       = {{Magneteg, Hugo and De Maré, William}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{From Software Consulting to Venture Building: A Case Study on Venture Studio Business Models}},
  year         = {{2023}},
}