How traditional companies can overcome legacy obstacles to business building

Supporting start-ups in a legacy business requires changes in both skill sets and mind-sets.

Efforts to foster innovation at an established company often run into challenges from the existing technology, processes, culture, and mind-sets. Avid Larizadeh Duggan, entrepreneur and investor, draws on her venture-capital expertise to explain to McKinsey’s Philipp Hillenbrand how corporations can successfully transform themselves, establish their own venture-capital arms, and support start-ups.

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