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Corporate venturing to bring upcoming and established businesses together

Bizidee and KPMG launch Bizon Award

Bizidee and KPMG launch Bizon Award


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Corporate venturing to bring upcoming and established businesses together

Structural cooperation between upcoming and established businesses can foster innovation in Flanders. In corporate venturing, both parties benefit from this type of cooperation. Bizidee and KPMG are launching the new Bizon Award to promote such cooperation. Flemish Minister for Economy, Work, Innovation and Sport Philippe Muyters will present this award at the Bizidee award ceremony on 13 December. 

For the past 15 years, Bizidee, officially known as Ondernemingsplanwedstrijd Vlaanderen vzw [Flanders Business Plan Competition], has laid the foundation for the development of startups in Flanders. This growth platform for quality concepts has already led to the launch of many strong startups through this competition. "Bizidee focuses on startups in the preliminary stage of existence and entrepreneurs who have recently taken their first steps in business. The next logical step is to focus on their added value. Bizon, the first Flemish corporate venturing award, rewards successful collaboration between upcoming growth companies and SMEs or major corporations," states Philip Peeters of Bizidee. 

The award ceremony will be preceded by a corporate venturing summit. This event will bring together a number of leading companies and promising entrepreneurs. The companies will investigate possible cooperation in an interactive workshop led by Professor Omar Mohout of the Antwerp Management School. The participants will be seated at tables based on their sector. The organization works together with the five key policy clusters in Flanders: Catalistie, SIM Flanders, Flanders' FOOD, VIL and Flux 50. Three additional sectors are also represented: fintech, human capital and pharma. 

"Innovation is about constantly questioning oneself in order to foster improvement. KPMG is very much committed to this, both in our own operations and for our clients. By focusing on the five key policy clusters, we hope this award will contribute to the innovation policy in Flanders. We have also identified three additional sectors that offer the right set of circumstances for corporate venturing. Bizon allows us to offer additional innovation opportunities to established companies by putting them in touch with upcoming growth companies. This also provides those upcoming companies with additional growth opportunities," states Bart Walterus, Partner at KPMG. By promoting corporate venturing in the 8 sectors, Bizidee and KPMG are aiming to foster a sustainable economy in Flanders.

© 2020 KPMG Central Services, a Belgian Economic Interest Grouping ("ESV/GIE") and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

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