Good news for Corporates & Startups in Australia
Great article from Sydney based media company WHICH-50 on the challenges and benefits for corporates and startups within the innovation space.
It's a changing dynamic as corporates look to increase (in particular) the speed of innovation through the use of accelerators, incubators and external tech startups which are largely unincumbered by the entrenched processes so often seen in large businesses.
For innovative startups, it's a positive outlook that reinforces the need and significant value that corporate partners bring, including distribution channels and brand backing.
Not without pitfalls fore both parties though, as getting buy in and alignment of cross-functional resources within corporates is challenging. Hence the appeal of "outsourcing" innovation. For startups, be prepared for some unrealistic expectations of a perfect solution, as well as the usual commercial/risk issues raised by procurement.
All in all a great read for innovative startup founders and corporate leaders alike.
Check out the full article here and let us know what you think.
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