Framework for successful ecosystem collaboration
There are many models for corporate collaboration with early stage, high potential businesses. Opportunities exist to form mutually beneficial partnerships, which have the potential to boost productivity and competitiveness. Co-development and Ecosystem orchestration is one of the ways that corporates can jointly work with start-ups to solve big challenges. Hackathons and Accelerator programmes provide multi-disciplinary innovation, with seed-funding, mentoring and training for start-ups.
Corporate Venture Capital works well when businesses invest their money in aspiring start-ups, with viable market propositions, to either obtain financial returns or for strategic advantage; the latter benefits from funding that facilitate access to new markets and scale-up growth.