CbusineZ is the corporate venturing office of CZ, a major Dutch health insurer. It was established to drive innovation through new ventures, projects, and investments that contribute to a more patient-centric and sustainable healthcare system. CbusineZ has developed processes and tools to manage its portfolio of innovations, including a deal flow list that facilitates transparency into projects' progress and helps determine which ideas should continue or be discontinued. Its culture focuses on results over processes and emphasizes speed, networking, and thinking without boundaries to foster entrepreneurship within a typically risk-averse corporate environment.

1. CbusineZ
Corporate venturing in health insurance
“drive, focus, insights and speed”

2. Introduction
Currently:
board of CbusineZ
Past:
DSM and Managing partner The Essence Consulting
Experience in venturing:
- Set up 6 companies as a managing director
- Served on 17 boards as a (non-)executive director
Drs J.G.B. de Groot
- Involved in > 30 M&A deals
Joep.de.groot@cz.nl
2

3. Index
Our environment
Corporate Venture Office in practice: Why and How?
Growth patterns and implications
3

4. CZ a main player in the Dutch health insurer
market
Top - 3 H.I.C.
3.3 mln affiliates
supports 3 labels
staff: 2.450 Fte’s
market share: 20%
turnover: € 6.5 billion
4

5. The cost of healthcare have risen sharply
Rise cost of hospitalcare in Cost increase in AWBZ
Netherlands last 5 year (elderly care) in 10 year
30 % 66 %
to 20 mrd € to 21 mrd €
5

6. Life expectancy an increase in the number of
This will increase therisen
will lead to has coming years
And
elderly people
In 2020
there are
+3 3,3 mln 65+
Baby
in 65+ in
In
2010: 2010:
1970:
83jr 2,5 mln
72
year
LINH, RIVM, 6

7. Unhealthy lifestyle is not always healthy...
We live longer.... But an important reason for
chronicle illness
40% over weight 50% doesn’t
27% smokes
15% obesity exercise enough
LINH, RIVM, 7

8. Because of higher life expectancy & unhealthy
Can you imagine what this means for care delivery?
lifestyle the number of chronically ill will rise
1.2 mln
1.1 mln
569.000
463.000
Depression COPD Diabetes heartcondition
8

9. Index
Our environment
Corporate Venture Office in practice: Why and How?
Growth patterns and implications
9

10. Corporations have a ‘natural’ problem with
innovation
Innovation
Operational Tendency to Different skills No processes and
focus keep status quo set experience
Focus on There is (or was) A corporation Corporations and
‘getting the a reason for requires less departments have
business right doing things they entrepreneurial no processes nor
and controlled’ way there and integral experience for
done… skills. guiding innovations
A natural inertia
to change
10

11. CbusineZ realises innovations that contribute to a
more patient centric, sustainable healthcare
Incubator Participant
11

12. CbusineZ portfolio
jan 2013
Previously

13. CbusineZ organisation: the elements have to
aligned
Process &
Strategy
Tools
Corporate
Organisation Venture
Finance
Office
Culture People
13

14. CbusineZ organisation: the elements have to
aligned
Process &
Strategy
Tools
Corporate
Organisation Venture
Finance
Office
Culture People
14

15. Position in the CZ organisation: CSF
at board level
Board Board
CZ CbusineZ
Staff
Legally
CbusineZ is a separate legal entity
with its own board
Customer
Marketing
15
service
Functionally
To the CZ organisation the
Declaration
Sales services CZ-CbusineZ board present
themselves as one
Healthcare
procurement So CbusineZ is organised at C-level

16. CbusineZ organisation
Executive board
A. van Son J. de Groot
Support Investment managers Business managers
R. Yap A. Bonte JH Willemse B. v.d Kallen U. Soffers
T. Talen
GJ van Rossum H. Agten
16

17. CbusineZ network: CbusineZ, Venture managers
and CZ innovators
CbusineZ
Venture maangers
Executive board
CZ innovators
A. van Son J. de Groot
Support Investment managers Business managers
R. Yap A. Bonte JH Willemse B. v.d Kallen U. Soffers
T. Talen
GJ van Rossum H. Agten
17

18. CbusineZ network: CbusineZ, Venture managers
and CZ innovators
CbusineZ event:
(Every 3 months)
Deal flow
CbusineZ
Presentation on relevant
Venture maangers
Executive board
CZ innovators
topic
A. van Son J. de Groot
(eg strategy, innovation
Support Investment managers Business managers
lessons from Jobs)
R. Yap A. Bonte JH Willemse B. v.d Kallen U. Soffers
T. Talen
Thought provoking topic:
GJ van Rossum H. Agten
(eg design, serious game)
Networking
17

19. We celebrate the successes and acknowledge
the business manager/ CZ innovator
19

20. CbusineZ organisation: the elements have to
aligned
Process &
Strategy
Tools
Corporate
Organisation Venture
Finance
Office
Culture People
20

21. CbusineZ attracts employees from CZ and
‘reprograms’ them
Intensive coaching program:
Board
from “corporatee” to innovator
CZ CbusineZ
Staff 1 Attitude
- Results Instead of process
2
Customer
Venture - Don’t tell me why it can’t be
Marketing
14
service
3 done, tell me what you need
Sales
Declaration - Connect instead of protect
services
Opera
Healthcare
procurement
Skills
- Focus, focus, focus
- PRISMA (problem solving)
1 Investment managers
Speed
2 Venture manager - Enourmous acceleration
3 Consultant
21

22. What is the biggest difference between working for
CZ and for CbusineZ?
In my opinion is the biggest difference that CZ has a control
and process driven culture. It requires you to think: “does it
fit and what pre conditions”. It tries to avoid risks in every
aspect of work.
CbusineZ expects you to think in terms of possibilities and
forces me to think/work without boundaries up front
T. Talen
For me the big difference between
working at CZ and CbZ is focus.
Focus on theme's, goal setting,
results.
A. Bonte And focus leads to speeding up!
22

23. CbusineZ organisation: the elements have to
aligned
Process &
Strategy
Tools
Corporate
Organisation Venture
Finance
Office
Culture People
23

24. CbusineZ developed (only last year) a process and
tools to manage innovations and ventures
2.1 New Venture
1. 3. 4.Exit
0.
Screen BP Start up Scale up Expansion Develop Exit
Idea Venture
mature Venture
Generation lead/idea
M&A Venture
2.2 Participation
Deal Flow Strategic Venture Mngt model contract library
Goal Map
Marketing &
dealflow en innovatie-mngt Cbusinez 18-okt-11 Strategic Goal Map sales
Innovaties
naam soort CVM-status BMngr Mijlpaal gereed% gereed
NIEUWE VENTURES CVM-status
Businessplan 1 1/2 dermatologie NV NV-2 Opstart + M&A-3 TT 01-12-11 25%
1. Market Map
Introductie PROMS NV NV-2 Opstart JvV/JdG 01-09-11 95%
Matching Talen: marktplaats voor Vp NV NV-2 Opstart TT 01-12-11 30% Business Partner
Nieuw Concept voor B&G (profielgericht verzuimmngt) UVV NV-2 Opstart TF 09-07-11 10%
plan strategy network
Centrale inkoop voor v&v huizen NV NV-1 Businessplan JN 01-02-12 0%
Premium Care & Living NV NV-1 Businessplan BLE ?
2a. Strategic goal for the parent Product
PARTICIPATIES CVM-status BM Mijlpaal % gereed
Control Strategic goal
Plannings- communicatiesysteem voor mantelzorg
Fusie en schaalvergroting WMO KT
NV
Part
MA-2 Screening aanbod
MA-2 Screening aanbod
NvL
JdG
01-10-11
15-11-11
90%
50%
2b. Needed results
Bekijken mogelijke participatie in Medicinfo van APO Part MA-2 Screening aanbod JdG 01-12-11 25%
Fusie PROMs en Miletus & aanscherpen CQI Part MA-2 Screening aanbod JdG 01-12-11 0%
Intellectual
Financial
3. Business goals for the Venture
Verkoop Huisartsenscan aan derde partij Part Ex-4 Onderhandelen voorwaarden
ABO 01-01-12 50%
Product
Projecten CVM-status Financial Property/
Zorgregelaar Proj PJ-4 Uitvoering ABO 01-04-12 25%
structure Strategic assets
Lichtere cardio processen met ehealth (Philips)
ZDF: Proces rondom verstrekking aan- en uittrekhulp verbeteren
Proj
Proj
PJ-3 Ontwerp
PJ-3 Ontwerp
TK/JdG
JD
29-06-11
22-06-11
10%
10% 4a. Needed links with the parent
4b. Needed links with other
ZDF: serious game ontwikkelen Proj PJ-2 Opstart JdG 01-04-12 50%
Mental ehealth in 2e lijn Proj PJ-1 Projectplan NS 10%
Ventures in the portfolio Financial Delivery
Verbeteren inzet Best Doctors proj PJ-1 Projectplan ABO 5%
Organisatie
IDEE EN VERKENNINGFASE
Arbo diensten te koop?
1-2
2. verkenning TT 90%
performance processes
Informatieuitwisseling binnen ouderenzorg met MMG 2. verkenning HA ? 75%
5. JV partner selection and abilities Structure & Managing
Ondersteuning BMI 30-35 2. verkenning TT 70%
Organisation
Model ziekenhuis met Bernhove 2. verkenning JdG 50% governance director
Bekijken mogelijkheid KZN voor fysiotherapie
KZN voor AWBZ ism buurtzorg&omaha systeem
2. verkenning
2. Verkenning
GvR
HA ?
50%
25%
to be transferred
Qiy als alternatief voor het EPD (incl investering/toezicht) 2. Verkenning WCA 01-09-11 10%
Kwaliteit meten door gezondheidswinst te bepalen 2. verkenning JdG 10%
DICA als benchmark voor oncologie 2. verkenning JdG 10%
Obesitas ondersteuning met mobiel (icm Rabobank) 2. verkenning JdG 5% Team & key
personnel
24

25. Deal flow list facilitates progress by transparency
and killing projects that won’t progress
Managers want to show progress
dealflow en innovatie-mngt Cbusinez 18-okt-11
The deal flow makes the progress transparent.
Innovaties
naam soort CVM-status BMngr Mijlpaal gereed% gereed
NIEUWE VENTURES CVM-status
Businessplan 1 1/2 dermatologie NV NV-2 Opstart + M&A-3 TT 01-12-11 25%
Introductie PROMS NV NV-2 Opstart JvV/JdG 01-09-11 95%
Matching Talen: marktplaats voor Vp NV NV-2 Opstart TT 01-12-11 30%
Nieuw Concept voor B&G (profielgericht verzuimmngt) UVV NV-2 Opstart TF 09-07-11 10%
Centrale inkoop voor v&v huizen NV NV-1 Businessplan JN 01-02-12 0%
Premium Care & Living NV NV-1 Businessplan BLE ?
Managers want to show progress to the board and
PARTICIPATIES CVM-status BM Mijlpaal % gereed
Plannings- communicatiesysteem voor mantelzorg NV MA-2 Screening aanbod NvL 01-10-11 90%
Fusie en schaalvergroting WMO KT Part MA-2 Screening aanbod JdG 15-11-11 50%
Bekijken mogelijke participatie in Medicinfo van APO Part MA-2 Screening aanbod JdG 01-12-11 25%
Fusie PROMs en Miletus & aanscherpen CQI Part MA-2 Screening aanbod JdG 01-12-11 0%
the rest of the CbusineZ community
Verkoop Huisartsenscan aan derde partij Part Ex-4 Onderhandelen voorwaarden
ABO 01-01-12 50%
Projecten CVM-status
Zorgregelaar Proj PJ-4 Uitvoering ABO 01-04-12 25%
Lichtere cardio processen met ehealth (Philips) Proj PJ-3 Ontwerp TK/JdG 29-06-11 10%
ZDF: Proces rondom verstrekking aan- en uittrekhulp verbeteren Proj PJ-3 Ontwerp JD 22-06-11 10%
ZDF: serious game ontwikkelen Proj PJ-2 Opstart JdG 01-04-12 50%
Mental ehealth in 2e lijn Proj PJ-1 Projectplan NS 10%
Verbeteren inzet Best Doctors proj PJ-1 Projectplan ABO 5%
IDEE EN VERKENNINGFASE 1-2
Arbo diensten te koop? 2. verkenning TT 90%
Informatieuitwisseling binnen ouderenzorg met MMG 2. verkenning HA ? 75%
Ondersteuning BMI 30-35 2. verkenning TT 70%
Facilitates killing projects
Model ziekenhuis met Bernhove 2. verkenning JdG 50%
Bekijken mogelijkheid KZN voor fysiotherapie 2. verkenning GvR 50%
KZN voor AWBZ ism buurtzorg&omaha systeem 2. Verkenning HA ? 25%
Qiy als alternatief voor het EPD (incl investering/toezicht) 2. Verkenning WCA 01-09-11 10%
Kwaliteit meten door gezondheidswinst te bepalen 2. verkenning JdG 10%
DICA als benchmark voor oncologie 2. verkenning JdG 10%
Obesitas ondersteuning met mobiel (icm Rabobank) 2. verkenning JdG 5%
Corporate habit:
Simple list with We have invested a lot of effort in this project, so
Ventures & projects it would be a shame to stop now...
with their status and
milestone deadline Kill and kill early!
Ventures/projects that won’t progress are killed!
“Don’t be temped to let it simmer”
25

26. Index
Our environment
Corporate Venture Office in practice: Why and How?
Growth patterns and implications
26

27. An ideal venture develops in phases and
when reaching it goals develops new business
Value of the Venture
Time
BP Start up Scale up Expansion Develop mature venture
27

28. At Business plan phase the business concept
and organisation is designed
Result : Business plan
Value of the Venture
Important:
- Quantitative research with potential customers and
partners
- Clear value proposition
- Design of the value delivery organisation
- “real world” financials
Time
BP Start up Scale up Expansion Develop mature venture
28

29. At Start up phase the organisation will be
build and launching customers will start
Result : Organisation and key personnel
Value of the Venture
Product / service 0.1
Launching customers
Important:
- Updated business plan with new insights
- Top quality CEO and key personnel
- Marketing & Sales plan for next phase
Time
BP Start up Scale up Expansion Develop mature venture
29

30. The hurdles to reach ‘critical mass’ are to
successfully scale up operations and improve product
Result : ‘Critical mass’ & satisfied customers
smooth operation
Value of the Venture
cash flow positive / break even
Important:
- Use of customer feedback to improve product
- Focus on customer needs AND delivery
- Cash to finance the growth
Time
BP Start up Scale up Expansion Develop mature venture
30

31. The challenge in Expansion phase is the balance
between growth and professionalization
Result : Desired market share
& profitability
Value of the Venture
Important:
- Professionalise processes
& control
- Team able to expand &
control
- Cash to finance Growth
Time
BP Start up Scale up Expansion Develop mature venture
31

32. A mature ventures needs to foster it’s core while
developing new business
Result : Profitable core &
New business
Value of the Venture
Important:
- Rationalise & improve core
product and processes
- Develop new business
- Keep up the ambition!
Core
Time
BP Start up Scale up Expansion Develop mature venture
32

33. Unfortunately... Ventures “sometimes” deviate from
the optimal growth pattern
Value of the Venture
Stand Still
Slow grower
Flat liner or Zombie
Time
BP Start up Scale up Expansion Develop mature venture
Crashed
33

34. We had no tool to analyse organisational
maturity and to coach the venture director
How good are the ventures in the How can we help ventures to
portfolio? progress to the next phase?
Value of the Venture
Core
Time
BP Start up Scale up Expansion Develop mature venture
34

35. Bell-Mason framework
35

36. We’ve changed some aspects because of our
environment, CSF in our experience & mature phase
Marketing &
sales
Business Partner
plan strategy network
Control Strategic goal Product
Intellectual
Financial
Product
Financial Property/
structure Strategic assets
Financial Organisatie Delivery
performance processes
Structure & Managing
Organisation
governance director
Team & key
personnel
36

37. Based on literature,experience and case
study we devoloped our own rules set
Venture management Experience
literature
Cases
Subject literature
CbusineZ Venture Management
Heuristic rules set
37