A G U I D E O N :

HOW TO KICKSTART STARTUP-CORPORATE COLLABORATION

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A B O U T & F A QA PIONEERS DISCOVER REPORT

As an advisory for startup-driven innovation, we receive a lot of inquiries on how corporates can effectively collaborate with startups in order to promote innovation.

This helpful guide addresses some of the top questions we get, leveraging the learnings and insights we’ve gleaned from over 80+ projects. They include:

- What is the best way to kickstart startup-driven innovation?

- What can my company do to establish sustainable startup-driven innovation?

- Which innovation methods are most effective for my company?

- How does my company secure internal commitment to innovation?

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Define the reason why you wish to work with startups – is it mainly about product or market innovation, or are you seeking new talent or technologies?

Reasons to consider: product innovation / process innovation / market innovation / new business models &

revenue streams /culture & mind-shift / talent search / branding

1 . S T A R T W I T H W H Y !

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Setting clear and measurable outcomes will help you to determine the right strategy for achieving success. What exactly is it that you wish to achieve with the startup initiative?

Potential outcomes:

2 . S E T A G O A L

- Foothold into a disruptive new technology or market space- Financial results on equity investments

- Integration of innovative technologies or business models into organization

- Open and innovative company culture

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Defining an innovation area is more than half the battle. Once you’ve determined the specific challenge or innovation area where startups can assist,

the startup scouting field as well as the collaboration approach can be developed.

A workshop with startups and experts will help to uncover innovation challengesand opportunities, and potential next steps.

3 . D E F I N E Y O U R I N N O V A T I O N P R O J E C T

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For innovation to succeed, you need plenty of internal support and backing from all levels –including management, which determines the budget,

and employees, who work the projects.

Get colleagues and management on board by hosting a startup-collaboration workshop that demonstrates clear benefits and concrete opportunities for the company.

4 . G E T B U Y - I N

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There are many startup-driven innovation approaches: accelerators, VC funds, open innovation programs, to name just a view. If you are not sure how exactly you can benefit

from startup collaboration, start with a small kick-off project and go from there.

Small kick-off projects include:

5 . I F Y O U D O N ’ T K N O W W H E R E T O S T A R T –S T A R T S M A L L

- Hackathon: Invite startups to hack a problem in 48 hours or less- Startup 101 Workshop: Learn how startups operate and approach innovation

- Innovation Day: Learn about innovation and how to incorporate it into your organization

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If you know startup-driven innovation is the way to go, set up a bigger initiative with greater output and impact.

Large kick-off projects include:- Accelerator/Incubator Program: Invite startups to develop solutions

while fostering their growth and development- Open Innovation Program: Source innovation ideas from various stakeholders

- ‘Discover Club’: Internal innovation taskforce trained on startup tools and methods, and innovates in guided sprints

6 . I F Y O U W A N T I T A L L - G O B I G !

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Most companies lack a clear process for proactively finding and engaging startups –often it falls on ill-equipped business units to do the job.

Communicate the challenge you want to solve! Create an open innovation platform where startups can apply and contribute their solutions.

Then, you can scout the startups with the best ideas and invite them to take part in the project.

7 . C R E A T E A N O P E N C A L L

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It’s no longer easy to win startups for a collaboration, since the rise in demand for startup-driven innovation means more corporates are fishing in the same territory. To lure startups

for a partnership, make clear what resources you can provide.

Possible resources to highlight:- Infrastructure / Labs / R&D/ Technology Access

- Supplier & distribution network - Access to customers & partners

- Accelerator Program & funding/investment

8 . D E F I N E Y O U R S T A R T U P O F F E R I N G

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There are many startups worth collaborating with out there, however only a few might be a great match for you. Not every startup fits every project, that is why you must thoroughly

screen startups based on pre-defined criteria to create a basis for a long-term partnership.

Top startup considerations: - Product offering, technology & traction

- Team & expertise- Funding stage & next strategic goals

9 . P I C K T H E R I G H T S T A R T U P S

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If you’d like to embark on a successful partnership with a startup, Pioneers Discover is happy to help:

ü Define innovation challenges and opportunitiesü Introduce the startup mindset and tools to your company

ü Bring you the startups, technologies and trends relevant to your organizationü Find the best-fit startups to achieve your innovation goals

ü Help to bring ideas to life

1 0 . E M B A R K O N A S U C C E S S F U L C O L L A B O R A T I O N !

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A D V I S O R Y F O R S T A R T U P - D R I V E N I N N O V A T I O N A team of corporate innovation

and startup specialists.

70+collaboration projects on an

international scale.

A network of 13,000+ high-potential early-stage startups.

We help corporations implement innovation through the potential of startups and their

technology.

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Happy to help!Feel free to contact us in case you havequestions about startup-driveninnovation or how your company mightbenefit from collaborating with a startup!

Tamara StixSr. Innovation Consultanttamara.stix@pioneers.iowww.pioneers.io/discover

Let‘s make YOU pioneer.

pioneers.io/discover

@pioneers @pioneersfestival pioneers.io

ADVISORY FOR STARTUP-DRIVEN INNOVATION