Partnership between a Startup and an
established business can be a Win Win
situation as startups brings focus, speed and innovation to the table while an
established business brings access to the market and a ready customer base to
the relationship. However this is easier said then done because these partnerships
entail serious work from both sides. Critical piece here is the desire and the
commitment from the bigger partner to create and build this relationship. Large
businesses often tend to stamp their way on partners. One has to have the DNA
that we will look for innovations from outside if not available inside.
Startups also need to align and fit into the working of a large corporation.
Discovering areas for collaboration is relatively
easy. However, finding most suitable startups in that space with the right
chemistry is harder and fraught with uncertainty. Often, an established
business sets up an in-house ‘intrapreneurship’ program or even an incubator or
an accelerator. However, one is often limited to only those companies that are
part such a set up. Collaboration with the startups in the larger ecosystem by
way of a joint ‘go to market’ and possible investments is a better option.
NTT Data (www.nttdata.com) stand out for their
organized approach and deep commitment to creating partnerships with startups
globally.
