Building Effective Startup-Corporate Collaboration Programs
Corporations need to collaborate with startups for various reasons. However, in the German-speaking world, there are many corporate initiatives, and each one must stand out to attract high-quality startups. To be effective, these company collaborations must have a clear focus, and their value proposition should align with the needs of the target startup audience.
We advise and support established companies in selecting and designing programs aimed at fostering long-term company collaborations. Through workshops, we transfer essential knowledge and help shape impactful initiatives. Additionally, we offer accelerators access to blended learning content via our platform, Konsultori Academy, which includes both online training and blended learning programs.
Startup initiatives are a dime a dozen
In recent years, the number of startup initiatives has almost exploded. In addition to accelerators, incubators, corporate venture funds, smart purchasing, there are client venture models. For startups, the market alone is difficult to keep track of, with more than 200 accelerators. In addition, there are initiatives such as competitions, individual cooperation agreements, one-time events, or corporate venture capital.
Those responsible regularly ask themselves whether the initiative is paying off. Accordingly, initiatives quickly disappear from the market.
Create programs to drive company collaboration
We see a trend toward highly specialised programs. This makes the initiatives distinguishable from their market peers. It becomes clearer which startups are being sought in which phase. The added value for the startups is more emphasised. But it also means that Corporate has better specified what it needs.
We have seen too broad of initiative in the past.
TIPS AND OUR APPROACH
Set up a suitable program for tailored cooperation models
Numerous cooperation models have already been tried and tested for years. Over time, however, these are being re-focused. Strong competition means that the models need to be well-focused. We focus on the added value that only corporates can bring. This includes customer access, a test environment, or a supplier network. It is important for us to include the goals of the startups that you want to win. This results in highly individualized models that are a good fit for you and the startups.
Achieve realistic goals
We support established companies in setting goals for their startup initiative. Together we set realistic strategic and financial goals. Good practice comparisons help to formulate the goals. These are linked to the goals of the overall company. We adapt them so that they are also attractive to the startups you want to target. The whole thing then naturally fits in with realistic budget assumptions.
Enhance company collaboration
There are many forms of cooperation models. Together we develop a customized model. It should fit your company and the startups. It should bring the expected added value to both. For this purpose, we use basic models and adapt them. Currently, we see greater chances of success with venture client models and individual collaborations. Individual models can also be institutionalized. Together we lift your internal treasures and define what is attractive for startups.
Engage resources and stakeholders
Why are company collaboration programs abandoned after about 3 years? One main reason is the unrealistic objectives. The second is the lack of internal commitment. Both at the management level and within the organisation itself, this is often lacking. Many people have to help out in order to implement a program successfully. We look at stakeholder management. It is important to us that resources are realistically planned and committed. Furthermore, we work together to provide continuous feedback within the organisation.
Processes, trade fairs and communication
Several things are necessary to make an initiative successful.
- Setting up the appropriate organization to oversee the program
- Implementing procedures
- Establishing single points of contact
- Holding regular steering sessions
Measuring contribution to defined goals and activities on a quarterly basis. We make sure that everyone is on board. Both for a program and for individual collaborations. We make sure that all sides see the added value and want more.
Company Collaboration and Program Support
„Coming together is a beginning, staying together is progress and working together is a success.” Henry Ford hit the nail on the head. Only by working together on a daily basis can we achieve the expected added value. The biggest problem areas are on the corporate side. This is based not only on our experience but also on numerous studies.
- Decisions are made too slowly
- decision-making channels are unclear
- communication, in general, is difficult
- the hurdles and internal regulations are too complex,
- the goals of both sides do not match
- the “not invented here” syndrome
But this can all be solved, as successful initiatives show.
We work with regular monitoring and scorecards. This makes the potential for improvement and what has already been achieved in terms of targets transparent. We strive to get even more out of the company collaboration. Cooperation is a living construct. Adjustments over time are needed.