Let’s Talk… Startup/Corporate Collaborations
By James Harkness
Retrieved from: https://www.dynamicbusiness.com.au/featured/lets-talk-startupcorporate-collaborations.html
Collaborations between startups and corporates can be a fantastic way for the former to build brand credibility and gain scale and for the latter to innovate quickly. Of course, not all collaborations are guaranteed to bear fruit.
For this week’s “Let’s Talk…” feature, we asked nearly two dozen thought leaders to identify the key ingredients for a successful, win-win collaboration. Responses included cultural alignment, mutual benefits, open communication, knowledge sharing, trust, clearly defined expectations including desired outcomes, patience, a commitment from each party to work shoulder-to-shoulder towards a common purpose, and freedom for both to ‘be themselves’.
Read on for further insights from this week’s lineup of commentators…
Emma Perera, Co-founder and Director of WellBeing GROW: “WellBeing GROW is a great example of startup-corporate collaboration as we began as a simple brand extension of the media brand GROW published by Universal Media Co. This gave us the benefits of mentorship, commercialisation, legal and financial services, marketing, creative services, digital support and other services to create a faster path to growth. One of the keys to fully realising the benefits of such a relationship is to maintain your independence so you can still move fast when needed and make autonomous decisions to change strategy or direction if needed, as startups often need to do, while corporates do not by nature. It is also key to work with a corporate that shares your startup’s passion and purpose.”
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