How and why should corporations work with startups? Lecture notes – Ukrainian Startup Fund

Ukrainian Startup Fund, the European Business Association together with ISE Corporate Booster held an online lecture on cooperation between startups and corporations.

Key messages by speakers:

✅Olena Malytska, ISE Corporate Accelerator, first took the floor and talked about the fundamentals of cooperation between corporations and startups: “Corporations practice the creation of in-house departments and corporate programs for cooperation with startups. For example, Google Ventures, BMW Startup Garage, The Unilever Foundry…Due to startups, corporations get quick access to technology, the opportunity to get a ready-made solution to an existing problem and be the first to bring a new product or service to market. Startups help create things that corporations are often unable to do on their own.”

✅ Maria Romanova, CEO of Radar Tech, focused on the cooperation with startups directly from corporations and its internal processes: “What are the options for developing corporate innovation and attracting startups? Innovative strategy, internal entrepreneurship, separate innovation team, innovative training/programs for employees, innovative tours, events, own and external accelerators, corporate venture funds.”
✅ Kirill Mazur, founder, and CEO of Center42 talked about ways of launching new products and looking for breakthrough ideas: “Why work with startups and innovations? McKinsey & Company’s 3 innovation horizons: 1. Sustaining innovation 2. Low-end disruption 3. Newmarket disruption Example: Henkel case and their paint marketplace of other manufacturers and painters.”
✅ Viacheslav Maiakin, Head of Cooperation at Sector X Acceleration Platform, presented theses on how accelerators work with corporations: “Accelerator in the classical sense is a service company that helps the technology business to grow and develop. The base of startups is not acceleration. The first clients, hypothesis tests, additional profits startups can get in corporations through the accelerator.”
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How and why should corporations work with startups? Lecture notes – Ukrainian Startup Fund