A startup is founded when an entrepreneur
sees an opportunity or gets an idea. Deep passion and risk taking ability work
as catalysts for the entrepreneur to leave her secure job, invest personal
money and sacrifice social life to take the plunge.
Startups bring in focus,
speed and innovation in their offering that often misses an established
business. This is often very difficult if not impossible to create in an
established business. But if an established business creates partnership with
startups, it's a WIN WIN WIN
situation. First WIN is for the
customers of established business as they get access to state of the art
products and services that a startup offers. Second WIN is for the established business as they extend their
offering, leverage innovation to fuel growth and even fight competition. And,
the third WIN is for the startup
itself. No better way to create customers, create a Go To Market than
partnering with an established business. However, It is imperative that
startups maintain their distinctiveness and novelty and have other avenues
to generate business than just align with an established business. For example,
if you sell your products on FlipKart or Amazon, there must be other avenues
else you will be squeezed. Large businesses have the might and power to
road-roll a startup.
This partnership between a
startup and an established Corporation is easier said than done. First, the DNA
of a startup is way different than that of an established Corporation.
Established businesses are more structured with defined command and control. And
they are excruciatingly slow for a startup. Startups on the other hand are
unstructured, at times come across as chaotic but act swiftly. And, with due
apologies to a large Corporation, top quality startups have exceptional quality
founders and the core team that's hard to match for a large corporation. Ownership
frame of mind is not natural to people in large corporations, whatever their senior
management may claim. Often, many corporates think they need to control the
startup. It will end up stifling the startup. You lost the game before it
began. And finally, And finally, many startup founders don't even think of
building such partnerships.
Overcoming all of above is
NTT Data, a global systems services and technology giant and TiE Pune
(https://pune.tie.org), Pune chapter of The Indus Entrepreneur (TiE), world’s
largest organization by entrepreneurs for entrepreneurs. Together, they embark
upon an initiative whereby TiE Pune will find startups that will be earmarked for
potential partnerships by NTT Data. NTT Data seeks startups from around the
world including India. NTT Data program is called Open Innovation Contest 9.0.
Information is available on NTT Data web page http://oi.nttdata.com/en/contest/. It also has detailed information on screening
process and the selection criteria.
Headquartered in Tokyo, Japan
and it is part of NTT, one of the largest conglomerate from Japan spanning
telecommunication, software, services and other areas. Besides, popular areas
such as FinTech, HealthTech and IoT, NTT Data has its eyes on startups that are
working on disruptive social innovations, data distribution, digital marketing
and back office functions. Further, I reckon, any startup that's promising to
augment NTT Data offering has a chance to get selected.
TiE Pune is sourcing startups
not only from its ecosystem in Pune but also from Bangalore and Mumbai with
help from TiE chapters in Bangalore and Mumbai respectively. Towns like Hubli
and Belgavi (formerly known as Belgaum) are home to many good startups and will
be a source. Shortlisting of startups
will be finalized by January 2019. Selected startups wll travel to Tokyo for
the final round.
Inspite of hick-ups and many
speed bumps, India has emerged as one of top three startup hubs globally,
prompting a global giants like NTT Data to create a partnership with TiE. It is
my belief that this will be a trend setter encouraging other multinationals and
more important, Indian Corporations, conglomerates and even Government to create
such programs.
Very well written !!
ReplyDeleteWell said Kiran. This is a unique opportunity for start ups to partner with a global giant & leverage strengths.
ReplyDeleteThanks Ajay
DeleteA wonderful initiative.
ReplyDelete