How we work · The Liminal Process Model
Corporate venture building, from belief to company.
Most corporate venture programmes are structured around advice. Limineer is structured around building. We come in, stay in, and share the risk of getting it wrong.
Four phases. A gate after each one.
Every phase ends in an explicit build/don't-build call, so a wrong assumption dies in weeks instead of consuming a budget year.
- Phase 01 · Uncertainty, Ambiguity & Common Beliefs
Liminal Space
We operate in a value space characterized by uncertainty. The goal is to identify 'Liminal Areas'-boundaries between known and unknown states. We map 'Common Beliefs' (deeply held industry orthodoxies) to spot 'Trigger Events' or 'Whispers' that suggest a radical shift is preparing.
What unknown shifts/trends could make our business obsolete? - Phase 02 · Cognition-based NBO Identification
Discovery Phase
We move from noise to signal by articulating a 'Contrarian Belief'-a counterfactual assumption that challenges the dominant mental model. We then formulate a 'Theory of Value' using strict causal logic: 'IF we solve these core subproblems, THEN we can realize this belief.'
What do we need to believe for this new business to be true? - Phase 03 · Action-based NBO Evaluation
Design Phase
Thinking stops, building starts. We test whether the NBO can make money before it scales — a working proof that someone will pay, at what price, and why that holds. The theory either survives contact with paying customers or it dies here.
Does our Theory create value in practice? Do customers want a share? - Phase 04 · Launch & Scale
Venture Build
With a validated theory and investable design, the venture is launched. This phase focuses on Lean Startup methodologies, effectuation, and executing the blueprint created in the Design phase. We finalize term sheets and the governance structure.
Who will lead the spun-out venture? What are the terms?
What happens at each stage.
Shared stakes, not rented frameworks. The venture takes shape with your team, not for it. The full engagement model →
Vetting sprint
Your strongest conviction about an emerging market or whitespace, stress-tested against real signals: customer discovery, competitor moves, an audit of what you already own, and a first-principles challenge.
The organisations who skip this step often spend 18 months learning what 6 weeks would have told them.
- A build/don't-build verdict
- Evidence, not decks
Embedded build
If the sprint confirms the conviction, we embed. Limineer operators work inside your structure, with your assets, your distribution and your institutional knowledge, at startup speed and with external accountability.
We don't rent you a framework. We build alongside you with shared stakes.
- Shared risk
- Embedded operators
Stands alone
Every venture we build is designed to stand on its own: a company with its own team, revenue model, and reason to exist.
We plan for the moment we step back from day one, because the best thing we can do is make ourselves unnecessary.
- Own team
- Own revenue model
- Designed to exit
What we don't do
- Run hackathons
- Deliver transformation strategies
- Advise on digital roadmaps
- Build anything we wouldn't stake our reputation on
On pricing
Priced per engagement. Scope, stakes and structure differ too much between a vetting sprint and a spin-out for a rate card to be honest.
What is fixed: every phase ends in a build/don't-build call, so the first gate costs weeks, not quarters.
Before you scope a sprint.
What is corporate venture building?
Corporate venture building is the practice of creating new businesses within or alongside established companies. Unlike traditional R&D or M&A, venture building focuses on rapidly testing and scaling new business models that can become significant revenue streams or strategic assets.
How does Limineer approach uncertainty in innovation?
Limineer treats uncertainty as an asset rather than a liability. We identify 'liminal spaces' - the gaps between current reality and future value - and develop contrarian hypotheses about where markets are heading. Through disciplined experimentation, we validate these hypotheses before significant investment.
What makes Limineer different from traditional innovation consultants?
Limineer focuses on contrarian thinking over consensus following, emphasizing speed to learning over speed to market. We work in the liminal space between what is and what could be, helping organizations build ventures positioned for emerging realities rather than current market conditions.
What is Limineer's track record in corporate venture building?
Limineer has run 47 vetting sprints across Fortune 500 partners in 12 industries. Each sprint ends in a build/don't-build verdict backed by evidence rather than a recommendation deck, and engagements that pass are built by embedded Limineer operators working inside the client's structure.
Who does Limineer work with?
Limineer partners with corporate innovation teams, Chief Innovation Officers, corporate venture units, R&D leadership, and strategy executives exploring adjacent markets across industries including financial services, healthcare, energy, manufacturing, retail, and technology.
Every engagement starts with one question.
What would you build if you weren't afraid to be wrong for a while? That's where we start.