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Drop a note to the CAL to let them know about your conversation and ask the CAL how you can help move it forward.
Best advice I’ve seen here. CAL should be delighted to hop on it!
Are you seriously not going to pursue this?? This will help you so much more in your career than any internal contribution. Sell the project and don’t let leaders take it from you. Build yourself as the manager and force it. You’ll get a promotion after if it’s a large and successful
Set up a meeting with SVP with or without your manager from the previous project. Understand the project from him and tell him that you will find the right people on this topic and will set up a follow up meeting with him. If there is a partner who manages that account or had managed in past, better would be to involve them in this meeting. You don’t have to provide solution in the first meeting itself. Just understand the problem so that you can identify the right team and people.
What is the problem?
You can absolutely do something about this in your current role. The people who get promoted above manager do so for their ability to bring in business. If whomever the partner team is that would lead this new biz opp is worth a damn they will keep you involved and you should ask to remain involved. Will it be added work? Yep, but that's life as you move up the ladder.
Tell your boss then carry on as before.
I don’t want him to feel like I’m just tossing it over the fence but I can’t really do much in my role to materialize a project out of it.
You can help materialize this opportunity by finding the right resources. Find the right people and set-up a meeting. Talk to your project leadership. Run with it!
Send a note to the SVP copying the CAL thanking them for the great discussion and mentioning you want to follow-up on the XYZ idea you discussed. I'd email the CAL in advance.