In the current landscape of high-velocity market shifts, radically game-changing ideas, and technological breakthroughs, businesses must be actively engaged in innovation in order to remain competitive. Those that are not will be left behind, and run the risk of obsolescence. In today’s hyper-competitive environment, companies must be adaptive.
Collaborative innovation is a means by which established corporations and startups can work together for their mutual benefit. A collaborative innovation program is a critical tool for businesses to gain access to innovations, discover disruptive new technologies, and address new markets. It is a process by which corporations can become acquainted with, and deeply knowledgable about, a diverse array of new business ideas before their competitors do.
CORPORATIONS’ DEEP ENGAGEMENT WITH STARTUPS IS VITAL.