As I pointed out in a previous post, the startup culture is now percolating into large corporations. Virtually all large companies have collaboration programs, from formal collaboration to co-working to competitions.
Nesta has published two interesting reports addressing the main types of collaboration and the related bottlenecks (see image below).
Governments have also promoted this kind of partnership as a way to for startups to grow. Rather than focussing on creating new large companies from scratch, recent efforts in Europe have focussed on matchmaking between large corporates and startups, for instance in the context of the Startup Europe Partnership. Collaboration is important for startups in order to scale, and for large corporates in order to innovate in traditional sectors and avoid being out-competed by new players.
This is certainly commendable, but is it enough? Large corporates are important, but they represent only a fraction of the economy. We can’t overlook the fact that a key role in Europe is played by smaller, more traditional midcaps companies, especially in traditional sectors such as manufacturing. Imagine for instance how big data startups could leverage the huge amount of data gathered by sensors present in most industrial machinery to develop predictive maintenance models.
This is even more worrying since, contrarily to large corporations, most midcaps lack the awareness and skills to establish and manage collaboration with startups.
How can we help startups to partner with the core traditional players of the economy? Is there any experience and lessons learnt worth sharing?