It’s no secret that Innovation is the key to success for both startups and corporates. Collaboration between the two worlds is in many cases mutually beneficial, they often need to cooperate in order to innovate.
In order to build a longlasting relationship, it might take some time for startups and corporates to establish solid bonds. On one hand, corporates must understand that a startup’s budget, decision chain, and capacity are quite limited; Settled companies can largely benefit from the startups fast-moving, outside-the-box- way of thinking as it is free from the constraints in policies or that particularly spread big business cultural structures. This brand new, fresh attitude and mindset are core, important elements to provide customers with the best products and services at the top of avant-garde Innovation.
On the other hand, startups must realize that corporates don’t work with the same flexibility and short times and so should take a dynamic, responsive approach in order to accommodate the corporate workflow enriching it and learning from it at the same time.
There’s a new trend in Corporates: the Corp-up method.
First actions have been seen in the forms of incubators and venture departments, but corporations are moving more towards startups also in the way they work. Mikko Riikkinen – a reseracher in Fintech and enterpreneur from Helsinki has defined it as ‘’a temporary organisation within a corporation that is founded to search for a disruptive and scalable business model.’’
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