Venturing

How does Fortis Venturing work?

The Fortis Venturing process is a well-structured, organised and controlled tool that guarantees a rapid development from the idea to a sustainable business concept, to a business plan and finally to an implemented project.

The different stages in the Fortis Venturing process are:

	Strategic Guidance: evaluation whether or not the idea is compatible with the Fortis strategy and whether it fits the Fortis Venturing scope.
	Concept Development Workshop: workshop organised and facilitated by the Fortis Venturing team in order to develop the embryonic idea into a sustainable business concept.
	Idea Purification: further development of the business concept based on the input given during the concept development workshop. Specific attention is given to testing the underlying assumptions of the business concept.
	Innovation Committee Presentation: presentation of the business concept to the members of the Fortis Innovation Committee who will challenge and judge the idea on market opportunity, strategic fit and personal commitment of the idea champion.
	Project Development: development of a business case for the project. This implies the development of a financial plan, team planning, rollout plan, governance structure, assumption mapping, milestone mapping, intrapreneur assessment, etc.
	Fortis Venturing Board Presentation: presentation of the business plan to the members of the Fortis Venturing Board. In case of an approval of the project, the Fortis Venturing Board will also decide on the budget that is allocated to the project, the strategic positioning inside or outside the Fortis structure and the overall monitoring requirements.
	Rollout support: Fortis Venturing will continue to support the project manager into the setting up and the marketing of his business. The role of Fortis Venturing however will depend on the positioning of the project within Fortis: in case of the set-up of the venture as a stand-alone company funded partially or entirely by Fortis Venturing, the support of Fortis venturing will be much more active and intense then in case of the integration of the venture within a specific Business.