I was recently speaking to a advisor that said it maybe a good idea to take this idea to a partner and have them build it in-house as it compliments what their platform does. It would be a Intrapreneurship where I'm working for the company with some equity to build out the idea. Currently we don't have a cto or development team so it would allow us to take the product to market at lot faster and without as much risk.
I’m curious if anyone else have been down this path and can share some pro’s and cons? One of my biggest concerns is that I can pitch the joint venture partner and they take the idea an execute it themselves.
Well essentially this does not sound like a Joint Venture but rather an M&A for Talent. Not a bad idea, but what it does is two things:
Not necessarily a bad tradeoff but that is really what you are talking about here. A true "Joint Venture" would be a case where you build out the MVP and then go to the partner and offer to do a joint deal. Yes MSFT has a long long long track record of engaging with a "partner" in a market they want to get into for a fixed period of time, and then blowing that partner off.
I've sat on both sides of that table with MSFT. The most famous case of this was probably Media Player and Real Networks where the CEO Rob Glazer ended up even giving testimony to Congress. The irony to me was that I had watched Rob do exactly this strategy to other partners when he was working for Microsoft - so when he opted for the JV with Microsoft, he full well knew what the MSFT strategy was going to be
but setting that aside.- what it sounds like is that your advisor doesn't believe you can execute an MVP given your current configuration and team. That may or may not be accurate.
Pitching an idea as a way of getting hired is a time honored technique and works pretty well. But understand that this is what you are doing. You are walking away from owning the startup