That’s why 67% of corporates are targeting early stage startups for partnerships, according to our new study with Imaginatik, The State of Startup/Corporate Collaboration 2016. The main reason is to explore new business models and technologies, to see what new transformative products and ideas they can bring to the market together.
Organizations like Microsoft, Zipcar, Cydan Development Inc., Massachusetts Clean Energy Center, EYP, and The John W. Henry Family Foundation are well aware of this and in order to achieve this impact, they have teamed up with several MassChallenge startups to foster engagement and collaboration through scholarships.
Our research shows, quite clearly, that corporations have begun to think and act like startups. Sounds like an oxymoron, except it’s true. Rather quietly, many companies have built innovation teams that focus on:
Developing proactive collaborations with the startup community – with a focus on flexible, informal, and agile partnerships.
MassChallenge was established in 2009, at the depths of the recession and a time when corporations were still reeling from the 2008 economic crisis, much less exploring new ideas. However, we knew that corporations needed to work with startups in more collaborative and innovative ways than had been standard practice, and to support the ecosystem as a whole in order to survive.