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Why Corporations and Startups Need to Work Together

 

Introducing innovation to your company is not a one-time offer for startups to hop in, do the job, leave, and you’re good for the next 20 years. It’s a long-term process that must be implemented in a corporation for good. And here’s why.

If you work in a corporation, you know it takes a staggering amount of time to implement new features. Who’s even responsible for doing that, anyway? Well, it could just be the Innovation department, but here’s the deal. It can’t do the work itself. It must be introduced from the very top to the bottom of an organization. Innovation needs to be incorporated in the very structure and stay there as long as possible.

One good thing is that you are reading this article. It’s your first step to get to know the startup community, its pros and cons, and to find out, how to make the two parties work together effectively and with mutual respect.

Before you think about startups…

It’s crucial that we all understand innovation. People commonly misinterpret it as improvement, thus coming to a conclusion, innovation is easy, you just need a little creativity. Upgrading the car with the latest sound system and heated seats cannot be called an innovation. Self-driving cars, however, make a difference. They’re innovative in a way that many trend observers haven’t seen before. Being used to sitting in the driver’s seat and controlling (almost) each aspect of your journey, it might be disturbing to experience a car turning the wheels or braking when approaching traffic lights.

Improvement means making existing things more convenient, the solutions are never so revolutionary that they cannot be copied by others. Implementing innovative solutions, on the other hand, creates added value. Only 10 years ago no one in their right mind would consider renting out a couch in their living room, and yet, once Airbnb launched in 2008, it resulted in a massive success and over 150 million users today. It was an answer to people’s desire to have extra income. Many have created businesses around Airbnb by renting out whole apartments or buying properties with the aim of short-term rentals.

Therefore it’s highly recommended to follow both current and prospective trends on the market, analyze the moves of your competition, and look for inspiration outside your own company.

How do you determine the need for innovation?

Corporations are successfully creating innovation departments, responsible solely for finding room for innovation. The key here is to have the right people, who have innovative thinking in their DNA. Whether it be an innovation architect, or a Chief Innovation Officer, change is crucial for corporations to stay on track. These managers have the experience and set of skills that allow to lead a dedicated team. One of the most important tasks is to implement the culture of innovation by constant education, attending conferences, and business networking. Diversifying the educational resources is also essential, unless we want a team that follows the same way of thinking. The startup ecosystem is not as hermetic as one could expect. It blends with other environments to create more value to regular customers and users, so corporations need to look at it from a wide perspective.

If you struggle to determine the need for innovation, why not turn to your end clients? The easiest way is to run a survey and ask consumers directly. What could be improved? What’s missing? What annoys them the most when they use the service or product? The results might be surprising and if you aren’t conducting similar research on a regular basis, it is time to change it.

Ideas from the inside

There’s also a different approach and it includes a lot of teamwork. If you are a leader, encourage your team to dive into tech news, read reports, annual statistics and predictions for the upcoming years. Implement a culture, where each member is eager to expand knowledge and seek new solutions. Start with yourself. Show how you do the research, help them adapt their schedules, so they have time to explore trends, not only in your industry, but other ones, too. Join them in an attempt to come up with ideas for innovation. Think about what clients will never say, because they don’t know certain solutions, yet. Many have probably wondered, if human interaction could be reduced to minimum when shopping. We’re talking introverts, but still, wouldn't it be convenient, to just enter a store on your way home, pick what you need, and still manage to catch that 6:32 train home? Amazon came up with an idea like that. You just need an app and your smartphone. Amazon Go store is a fresh concept that became reality. It’s an almost 100% automated system, with no shop assistants within your sight. Actual people still need to make deliveries, so until we have self-driving trucks (hey, Tesla?), Amazon Go remains an almost automated thing.

How do you start with startups?

If you work in the innovation unit or are in desperate need for innovative solutions in your department, start by searching the internet. There is literally no way startups have no references, as it’s in their core to be seen and recognized globally. Study different materials and reports, that are often available online for free. Make sure they are up-to-date. you don’t want to rely on resources from 2015 in 2018. Organizations such as Startup Poland or Startup Genome release their report every year. Find out the characteristics of the startup community, what the work culture is, and how they grow the business. Having a solid background on startups is crucial to even think about implementing their technology. Such companies run on different terms than bigger entities, have a relatively lower life expectancy, work quickly, and are pro-creative. Corporations, on the other hand, provide vast knowledge on data analysis, maintain a large client network, and have the capital.

Try and find lists of startups, that complement your needs. Find places where you can meet the founders. If it requires travelling to another city or country, aggregate your meetings. For example, startups often stay within one area which provides them with facilities such as office space, favourable renting conditions, access to high-skilled team members and university graduates prepared and ready to work in a startup. Young tech companies gather in larger hubs and coworking spaces, like Campus Warsaw, IdeaHub, Brain Embassy, Business Link, HubHub, or Reaktor Warsaw. Their atmosphere fosters new business connections, innovative ideas, and formal or informal meetings. It’s good to contact at least three hubs and see, what they have to offer, as well as what startups you can expect to meet there.

Matt Komorowski, PayPal

Startuppers in corporate structures

Having an employee with a startup mindset is always a good thing. Having an employee that knows how to use it in practice - even better. Look for people, who understand the startup environment, be it a former startupper or a person that used to work closely with startups. It can often be difficult to implement a different approach towards innovation. Hire someone, who can cooperate with innovative companies and knows how startups work. Research you do on your own will never tell you as much as an insider. The knowledge your company receives, can give you more ideas and implementation schedules, so that innovation becomes reality. If you can afford it, create teams with ex-startuppers. Encourage them to blend in and to provide added value. A different working culture can be very beneficial for your corporate employees.

What are the benefits?

The abovementioned features lead to a conclusion. Startups and corporations complement each other in many aspects. The first group usually looks for thorough market research, since no market need is the number one reason startup companies fail, according to recent studies by CB Insights. They also frequently struggle to expand the business network and find potential clients. Another issue involves lack of capital, thus the necessity to pitch their projects and gather financing from VCs or private investors.

Corporations have the resources and only need to fetch the opportunity to implement startup solutions. With the startups’ fast execution methods, dedicated teams of professionals, and the ability to grow rapidly. They aren’t afraid of taking risks, as they’re written in their DNA.

Konrad Milewski, Bayer

Where can you find them?

Finding a startup to cooperate with is not easy, let alone finding a good one. We’re advising that you and your teammates attend networking conferences. You’ll meet many startups at large conferences, however don’t underestimate smaller events, like meetups or startup pitching days. Here at the Wolves Summit conference we match startups, corporations, and investors by creating favourable conditions to meet and establish new partnerships. The matchmaking system for 1:1 meetings includes detailed profiles of all participants, so that you can filter people who match your company’s needs. We’ve seen huge interest in the tool, hence the idea to move offline experiences to online and with the all-year-long access. If you’re looking for specific industries and solutions, the wide range of available filters will help you find the perfect matches.

Sounds good? Visit us at wolvesmatch.com and find out more.


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Revolutionizing spatial planning with holistic evaluations by making use of algorithmic liveability scorings. Telemedicine platform that also serves as an artificial intelligence (AI) assistant supporting physicians in the diagnostic process. This solution integrates a range of modern technologies, such as 3D models that enhance the precision of presenting pain points, and advanced algorithms that support physicians in real time at every stage of the visit. The one-stop shop service for managing trademark portfolios worldwide. Company that specializes in the production of innovative harvesting systems for novel agricultural biomass in the form of corn cob cores, its processing for the production of biochar and energy. The company also deals with the commercialization of innovative biomass micronization technology enabling the full replacement of coal dust and gas. The company's latest service is the facilitation of biomass contracting through its own marketplace, which, thanks to the possibility of buying and selling biomass within its framework, has in-depth knowledge of this market and its principles and trends. Solution for recruitment and HR processes. It will conduct real-time interviews while engaging in natural conversations with candidates and evaluating them. Also serve as the perfect assistant, capable of completing tasks like scheduling calls with candidates, sending emails, and generating reports all via voice or written commands. An automated tool with endless capacity. Platform that enables easy data and information exchange anonymously between different development agencies, allowing for quick and accurate matching of needs and available programmer resources. This platform is an effective solution for development agencies seeking collaboration with other companies in the technology industry. Solution that enables filmmakers, graphic designers and animators to create their content fully in the cloud. Their users can do all of their editing, designs and animations from any place around the globe and on any personal device, even smartphones. All-in-one solution that connects entrepreneurs, universities, and students in one seamless ecosystem. Platform that elevates schools to the next level. It offers online real-time engaging teaching. It enables the creation of a lesson or an entire course with just one click using AI. It hosts the first interactive materials database which will be created by users. Additionally, it automates homework assignments and grades, and provides statistics collected during class lessons, such as teacher-student speaking time, student progress, and engagement. Moreover, it collects significantly more statistics than traditional LMS available in the market. A company that develops two devices for pulmonary rehabilitation: the system for home pulmonary physiotherapy that gamifies therapy with the simplest respiratory trainer using an AR mobile application, and the advanced mechatronic system for use in hospitals and remote therapy that automates resistance exercising. Cutting-edge virtual reality technologies to provide immersive and engaging therapy and educational experiences. Platform that serves schools, medical facilities, and direct consumers, catering to a wide range of neurological and psychological conditions. By combining intuitive VR applications with robust analytics and a user-friendly mobile interface, it simplifies the therapy process, making therapeutic exercises both accessible and effective at home or in professional settings. Software platform that facilitates safe and secure updates of industrial IoT devices using applied cryptography. The problem they’ve identified and are addressing is that the number of IoT devices worldwide is growing, but their quality in terms of security leaves much to be desired. Attacks on those devices pose an increasing global threat that we want to mitigate. Based in Warsaw, Poland, pioneers sustainable nanotechnology solutions, transforming food preservation and air quality management. Patented photocatalytic nanomaterials use light to activate a chemical process that eliminates harmful airborne agents like mold, ethylene, viruses, bacteria and smog, without producing toxic by-products. This eco-friendly technology extends the shelf life of perishables during transport and storage, significantly reduces food waste, and enhances food safety in vertical farming and food processing sectors. Tech and consulting company dedicated to the optimization of group discussions. Their mission is to enhance the quality of discourse and decision-making in both the public sphere and the business world. They have integrated the best of human insight, collaborative thinking, and AI to facilitate discussions and decisions of the highest quality. In a game-like environment, it gathers the most compelling arguments and counterarguments to ensure the right decisions are made. An affordable cost reduction application for SME's based on AI and ML technologies. The first interface between the «black box» of AI and the «white box» of traditional EMS. The internet after cookies - moves data storage, ad targeting, and personalization to user's devices putting users in control of their data and achieving conversion rates 10x the internet average. Developing a 3D printer that is capable of printing personalized and chronographic capsules for pharmaceutical use. Startup developing its own innovative software. Two products based on original AI algorithms: First one is a route planner for effective Last Mile Delivery. Second is for managing waste collection processes. Continuous pursuit of optimising and improving fleet scheduling goes hand in hand with growing ESG requirements. We are empowering individuals to fulfil their lives potential, through a new type of app that encompasses everything well-being. Proposing an approach to behavioural change through introspection on holistic well-being. An app designed for both life-strugglers and life achievers. Personalized AI platform for your company. Using your docs & data for faster work. It is a product that stores your company's knowledge (files, integrations, links) and allows you to create AI assistants with whom your employees and customers can chat (chatgpt like) getting information. Revolutionary clinical decision support and intelligent scribe system offered to doctors to help them with diagnosis, documentation and patient management. Their mission is to facilitate and automate the day-to-day work of hotel managers around the world, while at the same time striving to make the company's innovative systems standard in the hospitality industry, especially in facilities of the highest standard. They extend its availability to such facilities as Museums, Theatres and other facilities that care about the experiences of visitors. The entire system enables monitoring of quality, safety, cleanliness and experience in the facility. Using AI reduces the time required to analyze the data 10 times, and quality tests themselves are 3 times more accurate. Startup that enables doctors to create medical documentation 10x faster and provide them with tools that enable data analytics at the level of the whole population. Team of industry professionals with expertise in Real Estate, Architecture and Interior Design, Construction, and Finance with more than 50 years of combined experience in delivering projects internationally. They develop a new procurement method for Real Estate projects. Proof of Concepts in Singapore have demonstrated up to 28% savings for key Bill-of-Quantity (BOQ) items even when delivery costs and taxes are taken into consideration. Leveraging legal and contractual frameworks based on traditional procurement, this method applies to Design Bid & Build (DBB) and Design and Build projects as well. Startup that aims at development the most OPEX efficient Li-ion cell manufacturing process. Deep expertise in the Li-ion manufacturing helps them to develop innovative mechanical design of the cells, which are designed precisely for the niche applications. Remote health monitoring system that saves horses' lives and owners' money using technology and AI. AI-driven e-commerce hub: Integrates ERP and connects other services, utilizes multi- regional data, and delivers experience to customer. The most innovative parking solution. Embrace an innovative subterranean solution enabling swift and efficient parking without sacrificing valuable property space. Solution that replaces traditional resumes with a smart form that captures skills and potential. Participating companies can offer job seekers the choice: applying with a traditional CV or taking the alternative path. While applying for a job - choose alternative path and fill out our smart form once to effectively present your skills and goals, just the way recruiters love. Eliminate CV reworks and stress, enhance your success chances with applications auto-optimized for each job offer. Healthcare startup dedicated to revolutionizing neurodevelopmental therapy through innovative technologies and personalized care. It provides cutting-edge therapies and assessments for individuals impacted by neurodevelopmental disorders such as autism, ADHD, and dyslexia. Also they are creating an innovative assessment system for people with neurodevelopment disorders which create an individualized solution for them to reduce functional imbalance in cerebral cortex. An industrial IoT platform that helps Grocery Retail Chains to improve food safety and quality, reduce food waste and improve overall sustainability by collecting and analysing data from industrial assets that are used in grocery stores. New brand of electric enduro motorcycles created by a team of experienced engineers united by passion for motorization. The goal is to create products that will become synonymous with advanced technology and quality in the motorcycle world. Real-time agricultural equipment data management. Automation of procurement processes in the cosmetics industry. Fighting plastic pollution by creating food packaging made of natural leaves. Leading enterprise-grade Web 3.0 Data Management Platform provider in the Asia. It provides Digital Asset Infrastructure and solutions to help enterprises transform their business and create new business models through blockchain technology. Photo sharing social media platform. Game-changing measurement system for the booming radiotherapy market. With global demand soaring, their adaptable and mobile solution promises unparalleled precision at a competitive price. It redefines precision in radiotherapy with groundbreaking features: Define the isocenter with 0.1 mm precision for every angle of the gantry, treatment table, and collimator. Safely irradiate multiple small tumors near critical organs. Perform quick isocenter measurements without a service team, ideal for daily radiosurgery routines. Access, Secure and Share your car with a Smartphone app. No need to carry your car keys any more. With this car sharing platform, you have an end to end solution for all your car sharing needs, from car rental agreements, pre and post trip car images, keyless access, and security all in one platform. The project involves the creation of a marketplace that will enable easy and convenient ordering of peri-cemetery services. This platform will act as a central place for those seeking and purchasing services. The platform will act as an intermediary providing the technology and infrastructure for ordering grave care services. Payment will also be made through the platform, as well as a photo gallery of the services performed will be collected here. This startup serves both B2C and B2B markets. For individual clients, they offer mock technical interviews conducted by experienced software engineers, complete with detailed feedback reports. This service is designed to prepare candidates for real interviews, enhancing their skills and confidence. For businesses, they provide a database of pre-vetted programmers with proven technical proficiency. This resource streamlines the hiring process, saving companies time and money by ensuring they connect with only the most capable candidates. Throughout the year, we'll showcase over 1,000 fresh companies, innovative ideas, and emerging startups in search of strategic partnerships and expansion capital. If you are an Investor and would like to see detailed Information and Contact details of the founders, please activate your Subscription to our Premium service here. If you're a Startup seeking capital, feel free to submit your details for consideration at no cost here.