We can finally live out ourJetsonsfantasies almost.
Thanks to this collaboration, catching a lift will have a whole new meaning.
So how important are this punch in of collaboration or partnership to a digital ecosystem?
What is an ecosystem in the first place?
Founders with problems to solve.
Co-founders who believe in their vision.
Networking events so they can find each other.
Funding from friends and family, angels, VCs, and private equity funds.
Support organizations like workplace communities, growth platforms, and networking and membership groups.
Venues and co-working spaces.
Support programs like accelerators, incubators, and open innovation initiatives.
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Steven Renwick, CPO at Regis 24, broke it down to The Next Web in simpler terms.
Collaboration, especially between smaller businesses and their larger counterparts, is the catalyst that precipitates innovation.
That innovation then ripples out, positively affecting other parts of the cluster.
There are several direct benefits to the small business.
These include investment, project funding, access to corporate information and data.
And theres no accounting for serendipity.
You never know who is going to introduce you to an investor or an employee.
He took part in Data Pitch, an EU-funded innovation program in which corporates share their data with start-ups.
By working with the data of a digital health company Weyer was able to confirm Statices utility.
Speaking of revenue, Weyer also attested to the fact that collaborations can assist with sales and customer acquisition.
He said: Usually, collaborations are part of our sales process.
Quite often these include setting up a proof of concept project with corporates to test our product together.
This is usually handled by our salespeople.
And the large corporations, their products are ready for new innovations.
If you put the two together, the corporation has customer reach and innovations.
This form of partnership, buy-outs, and corporate venture capital is long term and not for the commitment-shy.
Other forms of collaboration include procurement, co-development, and free tools.
But they hardly ever learned about each other.
A young company that is part of the InsurTech Hub in Munich is Smartlane Transport Intelligence.
Lorey said: Start-ups and big corporates have different areas of expertise and can greatly benefit from each other.
I think corporates need meaningful connections to startups to leverage this potential and to bridge the gap.
These aspects of business impact many other areas of the ecosystem.
