More and more businesses see the added value of collaboration with startups to increase their innovative capacity. Still, an important question remains: what is the best way to make the collaboration successful for both the corporate and the startup?
That’s why we initiated a research project, to investigate together with companies what the best practices are to turn Corporate Venturing projects into a resounding success.
This research offers insights into the best practices and guidelines to successfully roll out and organize a strategic collaboration between both parties. We also pay special attention to family businesses, as they constitute almost 80% of all businesses in Belgium and make up 33% of the GDP.
Five years ago, Omar began the creation of a database to map out all Belgian startups. By 2016 he mapped out all of Europe, Turkey and Israel. In 2018, he published the book ‘Corporate Venturing’. "Putting large companies and startups together can be a match made in heaven.”
This white paper was created within the Corporate Venturing research project, a collaboration between AMS, PwC and PwC Legal. Based on research and expertise, contextual drivers for successful collaboration between start-ups and established organizations are defined. In addition, specific challenges and drivers for setting up strategic partnerships are discussed.
The book ‘Corporate Venturing’ provides insights into the different strategies and tactics to accelerate innovation and growth through collaboration. Because ‘Corporate Venturing’ is so much more than a hype story of how cool startups are and why you should invest in them with a fund or setup an accelerator.
In this second white paper of our research project ‘The Art of Corporate Venturing’ we shift our focus towards the perspective of established firms.
We explore 5 broad types of cooperation and link them to elements such as ‘CSC intensity’, ‘Motivation for CSC’, ‘Strategic performance’, ‘Financial performance’ and ‘Internal vs External innovation’.
- Omar Mohout
- Andries Reymer
- Vincent Molly
Both PwC and Law Square have been advising and assisting corporations, small, mid-size and large companies and family businesses for years and they have been early supporters and enablers of the start-up and scale-up community, whether local or international. Working hand in hand with these businesses, partners at both the consulting firm and the law firm are in a well-placed position to understand their clients’ needs. They have witnessed a growing space for corporate venturing and for strategic collaborations between corporations and family businesses on one side and start-ups and scale-ups on the other side, each of them being able to bring benefits to the other, and this more specifically but not limited to the field of innovation and access to customer markets. Indeed, corporate clients strive everyday more to innovate, a field where start-ups and scale-ups excel in, and they have the ability and means to manage challenges of possible disruption from the latter.
Both firms are acting as a catalyst to provide an easier connection between corporate clients and the start-up community, and accompany them in their venturing journey with the necessary legal, tax, technical, strategic and financial expertise.
In this era of fast-paced change, new technologies and disruption, thousands of new companies are currently moving towards changing your industry significantly in the coming years. Don’t fight them. Work with them.
Corporate companies looking to innovate must choose different technologies and business models. Omar: “By collaborating with startups, aka Corporate Venturing, a company can make use of talents and opportunities outside its own four walls.