There is growing recognition among business leaders and commentators that in order to be innovative and remain relevant, collaboration with startups may be essential, particularly if larger corporates (in many different sectors) are to continue to command the share of market that they currently enjoy.
It is a belief that is also shared by large corporates themselves – 86% of them, according to a 2014 survey conducted by KPMG (see attached).
However, there is also an open acknowledgment that few big businesses foster collaborative relationships that actually succeed, not just for the collaborators, but importantly also, their target consumers.
The original content on which this blog is based is a ‘must’ read. It sets out brilliantly why we should all collaborate more, not least since more and more startups are successfully disrupting not just sectors and niches of markets, but entire markets. Digitisation is accelerating this trend at a rapid pace.
What marks this out as a thought-provoking and more interesting read than a number of others that I have come across on this topic, is that it also contains a number of well-presented tools, suggestions and ideas for identifying what sort of collaboration is likely to work for your business and how to go about making it happen.
At elXtr, we strongly believe in the benefits of collaboration. We wouldn’t have such an exciting future ahead of us without our collaborations with other like-minded brands, large and small, established and ‘newbie’. And ultimately, it is not any of us, but the consumer, who really wins.
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"The digital disruption and acceleration of markets, customers and companies accordingly calls for new approaches in creating future technologies and business models. One party alone will find it more and more difficult to address all of the challenges. This is why Co-Innovation programs with strong focus on Co-Creation and ‘Joint Value Propositions’ are so valuable. They will bring together collective actors and thinkers in an effort to broaden the innovation-value-chain to address these fast moving collective challenges." THOMAS R. WERNER Director, Cisco EIR