Huge Thing

Sign in

Photo by Matt Ridley on Unsplash

How corporations can cooperate with startups?

THE KEY FACTORS AFFECTING THE COOPERATION between CORPORATIONS AND STARTUPS | part 1

The relationships between startups and corporations are different. However, we have identified several key factors that in our opinion significantly influence the effectiveness of the business relationship between these entities. First two of them we described in a brief form below.

The Purpose of cooperation

If an organization wants to look for startups in order to have a real benefit from such a cooperation, one of the most important issues to consider before beginning to do so is to define the purpose. The simplest distinction is whether you are looking for solutions that can complement the company’s offer or those that can improve processes. Our survey (qualitative research carried out in 2019 for the needs of the Corporations and Startups 2019 Report) shows that approximately 28% of the innovations implemented in large organizations are external one meaning ones related to the services and projects offered. 71% are innovations aimed at changing processes within the organization.

Maturity of the solution

It is also important to know how to cooperate with mature startups. Are you ready to be the first organization to test the solution? Do you want to show positive results of a cooperation in a quick and certain way? For most of the large organizations, the key point of cooperation is the solution’s implementation . The development stage of startups is very important here. If you want to carry out the tests, the startup should be at least in the MVP phase, i.e. have a product in the simplest form that allows testing it in the organization. It all depends on what exactly the organization is looking for.

We have over 8 years of experience in supporting the development of startups in acceleration programs and supporting them in cooperation with corporations.