I recently had the opportunity go on my friend Brian Ardinger’s podcast, where we spoke about The Startup Gold Mine. We were able to get into a few different things, including:
Startups and corporates speak a different language
- Different timeframes
- Size of deals
- Response times
- Number of stakeholders
Corporate incentive structures for successful partnerships
- How comfortable is the corporate team in innovating? If comfortable, they’ll have a higher tolerance for misses. Look at the entire portfolio.
- Companies that allow intrapreneurship give employees new outlets to thrive.
- Allow more employees to scout for deals – innovation can come from all parts of the organization.
What are the benefits of startups-corporation collaboration?
- Inside large organizations (10,000+ employees) it’s an echo chamber. They only see direct competitors.
- Need someone looking outside of direct competition. Expose the corporate team to new ways of thinking.
- Startups also get exposure to see how their tech can apply to different domains.
You can listen to the podcast on iTunes, Spotify, or your favorite podcast player. Learn more about this and other great innovation episodes on the Inside Outside Innovation website.
Make sure to grab a copy of The Startup Gold Mine at your favorite bookstore!