A chance to understand stakeholders
First off, startups and big corporations work completely differently. Everything from decision making to product development and organizational culture differs between the two. Basically it’s two completely different worlds. This often means startups struggle to understand the needs and wants of big corporations as well as their incentives.
- The future is for those who can adapt to a fast changing world. To enable that adaptability you have to work closer together and really create strong relationships, says Katarina Brud, Director of MobilityXlab.
When it comes to innovation in the field of mobility you are more often than not dependent on larger corporations investing in your invention or buying your product to even make it to the market or make a change as a startup. Getting to know what kind of stakeholder through collaboration can basically be your make or break.
As a startup it’s important to listen and be responsive to what the industry leaders need and be aware of their somewhat complex structures. That is seldom done by knocking on the CEO’s door and expecting to be heard. Entering collaboration hubs or programs where contact is solicited by a facilitator and where the corporations have made time and put in effort to be present will give you this unique opportunity.
Once there, startups have direct access to their stakeholders which can give priceless insights and potential partnerships.
A foot through the door
Sometimes all you need is a foot through the door. Collaboration can give that to a startup. Through collaboration a startup can acquire valuable contacts and potentially that crucial assistance they need to succeed. A collaboration between a startup and a large corporation does not need to end up in an investment to be successful.
For a startup to refine and perfect an innovation you need data and getting access to that data is hard. Getting a foot through the door by collaboration can give you that access and those important details you need.
- Through big corporations startups can reach new insights, industries and a geographical spread they might not have gotten on their own. MobilityXlab is that foot through the door, says Katarina.
Validation and strategic partnerships
As mentioned, a successful collaboration doesn’t necessarily end up in an investment. Through collaboration a startup can access strategic partnerships that will change their future and innovation process. That collaboration alone can give a startup the validation they need to be seen and heard. Those strategic partnerships can facilitate more useful contacts and connections for startups that will make a real difference in the long run.
- We believe that you don’t have to own the technology yourself, what you need is easy access to it as a big corporation. With that approach we create a more level playing field between startups and corporations, Katarina explains.
In summation, as a startup finding the right partner in collaboration can make all the difference.
For this to happen, it’s most likely that you need an objective third party who facilitates these partnerships and collaborations. We at MobilityXlab connect startups and scale ups with our partners through our collaboration hub every year. Through our program startups have the chance to accelerate with the help of our partners.
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