Big companies have learned to look at small businesses or new projects as a way to grow rather than see it as a threat
Nowadays, companies can not rely exclusively on their own R&D departments to handle Innovation, startups are playing a key role and companies need to be present in the entrepreneur ecosystem in order to remain competitive in today’s fast changing environment, that is why more and more companies are implementing Open Innovation strategies. A process that involves the search for talent and innovation outside of the company. One of the options for doing it is to collaborate with external entities that are involved in the startups sector, with contacts and experience in the relationship with the entrepreneurs that should be dealt in a more dynamic way, since large companies have a much more rigid structure and it tends to cost them more to adapt to this process. It is also less expensive than creating a department dedicated to this task from scratch.
Big companies have learned to look at small businesses or new projects as a way to grow rather than see it as a threat. This is because startups drive significant innovations, have an entrepreneurial spirit and the agility to pivot and develop quickly.
We can see clear examples with companies like Spotify or Uber that in less than ten years of age, have reached valuations of billions of dollars and are replacing existing technologies and known business models.
Startups are a way to rejuvenate with fresh talent and new ideas the big companies that at the same time they can help with their experience, market knowledge, data, established networks and their brand power.
The companies dedicated at this sector have people specialized in the industry of interest that is investigated and also have ease in negotiation, adaptation, ease in dealing with people and contacts within the sector. The aim is that the group of experts who know your business is united with the mission of the scouter that is to find startups that give solution to the problems, needs or opportunities detected.
The impact of this search is not immediate, it requires the integration of new technology or business into the core processes of the company.
Bloomium offers this service and has the experience of the analysis of more than 500 startups in its route as well as its knowledge and dedication in the sector.
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