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5 Questions To Answer Before Going Into Bed with Startups

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Let's talk corporate digital transformation! In this SlideShare, you'll get insights into:

☑ Aspects to look at before partnering with startups
☑ Ways to prepare your organization for venture collaboration
☑ Types of startup-corporate collaboration
☑ Cultural / organizational differences
☑ Final checklist aka Reality audit
☑ Data-driven solution

By Catapult | Data-driven Solution for Corporates
https://www.catapult.guru/

Publié dans : Données & analyses
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5 Questions To Answer Before Going Into Bed with Startups

  1. 1. 5 QUESTIONS TO ANSWER BEFORE GOING INTO BED WITH STARTUPS www.catapult.guru CORPORATE DIGITAL TRANSFORMATION
  2. 2. IN THIS SLIDESHARE, YOU'LL GET INSIGHTS INTO: ☑ Aspects to look at before partnering with startups ☑ Ways to prepare your organization for venture collaboration ☑ Types of startup-corporate collaboration ☑ Cultural / organizational differences ☑ Final checklist aka Reality audit ☑ Data-driven solution
  3. 3. THE GLOBAL BUSINESS LANDSCAPE IS TRANSFORMING AT A SPEED OF LIGHT. WHY? RAPID DIGITALIZATION.
  4. 4. 80% OF CORPORATES BELIEVE that startups can have a positive impact on a large company’s approach to innovation. study by the Unilever Foundation 80% 20%
  5. 5. 89% OF STARTUPS BELIEVE they are able to deliver business solutions which can scale. study by the Unilever Foundation 89% 11%
  6. 6. WHAT QUESTIONS YOU SHOULD ASK YOUR ORGANIZATION AND YOURSELF BEFORE GOING INTO BED WITH STARTUPS?
  7. 7. QUESTION #1 Often companies embrace startup-corporate collaboration for the wrong reasons, that are not aligned with company’s short-term and long-term strategies, across departments or among corporate’s leaders. DO YOU KNOW WHAT YOU WANT TO ACHIEVE?
  8. 8. It is also about setting preliminary goals in accordance with available resources: BUDGET PEOPLE TIME KNOW-HOW
  9. 9. QUESTION #2 Drawing a clear path for partnership is not only one of the main criteria for successful startup scouting and validation, but a fundamental internal strategy to be agreed upon in advance with staff involved in venture collaboration. WHAT TYPE OF COLLABORATION IS SUITABLE FOR YOUR ORGANIZATION?
  10. 10. Some types of the startup- corporate collaboration COLLABORATION Are you seeking for new technologies, innovations and solution providers to collaborate with? INVESTMENTS Is your main goal to find an investable company? ACQUISITIONS Are you serious about acquiring a promising startup? OTHER? Establishing an in-house acceleration program, an investment fund, or smth entirely different?
  11. 11. QUESTION #3 One way to minimize risks and assure successful partnership with startups is to recruit/assign a dedicated person, or a team, or even an entire department to oversee venture-collaboration activities. DO YOU HAVE A DEDICATED PERSON OR A TEAM FOR VENTURE COLLABORATION?
  12. 12. Questions to ask: INTERNAL VS EXTERNAL Can we validate ourselves which startups are the right fit for us, or we do recruit an external partner with in-depth knowledge about startup ecosystem? TOOLS & RESOURCES Are we going to scout relevant technologies through digital tools, consulting firms, events or elsewhere, and what human resources do we need in accordance to the chosen path?
  13. 13. QUESTION #4 Take a look at your industry, its trends, its market leaders, its growth. With more Ubers and AirBnBs challenging big traditional players, corporate giants need to act fast to the changes in the industry. HOW DO YOU FEEL ABOUT THE FUTURE OF YOUR INDUSTRY, AND YOUR COMPANY’S PLACE IN IT?
  14. 14. Time is a pressing matter. Think of the following questions: THE FUTURE How do you see your organization in 5 years? Will the industry still exist? RIGHT PATH? Are you confident that your current direction will strengthen your position on the market long-term? SPEED Are you fast enough to find promising technologies, growth companies and innovations? COMPETITION What are other corporates doing in this focus area and are they succeeding?
  15. 15. QUESTION #5 Good startups are like good programmers. You don't choose them, they choose you. Ask yourself: what can we offer to a startup? Are we sexy enough? Can we move along with the same speed? ARE YOU READY TO ADAPT THE STARTUP WAY/CULTURE?
  16. 16. Differences in innovation and organizational structure (startup VS corporate): TOP-DOWN Startups cannot be approached top-down way, but rather at eye level. ATTITUDE TO FAILURE Failure is a natural milestone for a young company, wherein in many corporates even the slightest sign of failure has a heavy cost for those involved. MATCHING THE SPEED Things move fast in a startup - few months can mean growth or death valley, wherein corporates might take months just to make a decision on venture collaboration.
  17. 17. FINAL CHECKLIST Do you know what you want to achieve? What type of collaboration is suitable for your organization? Do you have a dedicated staff for venture collaboration? Are you ready to adapt the startup way/culture? How do you feel about the future of your industry?
  18. 18. Senior management has to be ready to adapt, make fast decisions, and throw overboard conventional and tested ways of thinking, i.e. be curious and open-minded.
  19. 19. CATAPULT'S DATA- DRIVEN SOLUTION FOR CORPORATES Helping corporates find the best and most relevant tecnologies, startups, innovations, solution-providers. Our data-pool on 100.000+ European startups + State-of-the-art AI/ML algorithms + In-depth startup scouting and validation + Venture collaboration know-how + Proven record of success with industry-leading corporates www.catapult.guru
  20. 20. HAVE A FOLLOW-UP QUESTION? WISH TO GET MORE CONTENT ON THIS TOPIC? READY TO START VENTURE COLLABORATION? Drop us a message --> www.catapult.guru/contact WE HOPE YOU ENJOYED THIS READ!

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