Partnerships between corporates and startups bring added value to both parties. The innovative spirit and disruption are commonly associated with startups. But they lack the notoriety and the prestige of being associated with a corporate. On the other hand, corporates have already achieved a considerable level of growth, success, and recognition, but they tend to lose the ability to innovate and take smart risks. Thus, synergies between startups and companies turn out to be win-win relationships, being very desirable especially for innovators, who are looking for opportunities to enter the market and prove their talents.
Corporates have a lot of resources that startups usually need, and our Projects Community Manager Beatriz Riscado knows this well. According to her, corporates can be a launching pad for what startups are trying to do, especially when it comes to developing pilots. In fact, it’s very important for innovators to be associated with a good corporate because it will help them sell and gain some sort of market credibility. But sometimes, these partnerships can be difficult to form. A study by Startupbootcamp found that almost 70% of startups experience a long internal process working with corporates and half of the startups had taken more than 6 months to sign a deal with a corporate.
So… How to approach a corporate? It depends on each startup, but Beatriz’s advice is to look at the mission of who you want to approach because that mission and those values are going to be the ones behind the strategy of the company. If the company wants to work with a startup, of course, the startup will need to be aligned with the company’s strategy.
Do you want to know more about approaching corporates? Watch Beatriz's video below and find out some more tips!
If you need extra help, open innovation events and programs can open many doors for startups, facilitating contact with large companies, and creating a bridge between the business world and the entrepreneurial world. Discover our latest open innovation event!