Six Rules To Succeed In Collaborating With Start-Ups

If the reasons that push large companies to work with start-ups are well known (gain quickness, be in step with current innovations and create links with new generations, etc.). How to work with them is a theme more rarely discussed. The lack of mutual knowledge is often a source of misunderstanding, even disappointment. How to overcome this difficulty to make collaboration fruitful?

  1. Exceed the simple stage of locating start-ups

Many companies focus a large part of their business intelligence efforts on identifying startup toronto related to their fields of activity. This work is usually done by the advance department, which is often the first – and the only – point of contact with startup toronto. Meetings and discussions are organized and in a large part of the cases, efforts stop there, lack of clear strategy on the way ahead. This situation is extremely confusing for all parties involved. It is essential that the expectations and the modalities of interaction with start-ups are associated with the strategy of the company and explained to all departments before starting the first meetings. This will be a preface roadmap to launching an effective collaboration.

  1. Clearly identify the interlocutor (a person who takes part in conversation)

It is important that the interlocutors are easily identifiable by both start-ups and internal resources of the company to facilitate the understanding of the needs and expectations of each party. A poor identification of the interlocutors generates a multiplication of fields to different participants. This prevents to emerge a global vision of the problem to be solved and leads to a slow, graceful and unstructured discussion process.

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  1. Integrate all stakeholders

If the startup Toronto carries an innovative project, it is certainly transversal. It is, therefore, necessary that the various departments, including the different functions, be involved collectively in the project as soon as it is launched. This will make it easier to go beyond the organizational silos and start working discussions with the start-up on the many aspects of the problem to be solved.

  1. Accompany start-ups in the long term

A success factor of collaboration with a start-up is to be willing to spend time with her and for that, to dedicate resources to attend her in the long term. The innovation department is well placed to play this role of the interface by taking the role of sponsor and project leader and by carrying the internal desire of the company.

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  1. Communicate often and in detail

Start-ups need specific feedback to create a solution that is perfectly suited to the company’s problems and to better understand the internal environment in which they operate. This open communication also helps to fake links between the two partners and always clarify their respective expectations and needs. This concern for communication, in both directions, must be long-term because start-ups and large companies do not always evolve at the same pace.

  1. Adopt an effective approach

It means to reach a preset end goal, it is often better to capitalize on new opportunities that will be discovered along the way, during a process of co creation of innovation. This so-called “real” approach offers large groups the opportunity to free themselves from their often rigid decision-making processes.