A major problem many startups, scaleups, and mature technological companies face is connecting with large customers, in both public and private sector. They need these connections to earn consistent revenue, and to grow their companies.
However, large organizations are understandably complex. Plus, enterprise business isn’t generally prone to connect with unknown companies. That is, of course, unless they need to solve new problems quickly.
Challenges of Connecting Innovators & Corporations
While most corporations are well aware they need to innovate and may understand technology trends, that doesn’t necessarily help them connect with appropriate innovators. Technology is a diverse, complicated sector and corporations may need to sort through a huge array of potential innovations. Nonetheless, choosing the right companies is essential if they are to accomplish their company objectives.
Regrettably, a recent study found most companies waste about 30% of their IT budget. Most lack a well-defined system to identify and test and trial potentially suitable technologies. Trying to innovate internally also stresses internal resources and is often too slow to offer a competitive edge.
Conversely, it can be extremely difficult for innovative startups, scaleups, and mature companies to find new business, because the process is typically very resource intensive. Negotiating a company hierarchy in search of the appropriate party is difficult enough, never mind showing them that what they offer aligns with organizational needs. With so many disruptive technologies available, they seldom have the opportunity to demonstrate why big business should choose what they offer over other choices.
Furthermore, many large organizations aren’t eager to try new, untested technological innovations, while others have complex procurement cycles that won’t lead to consistent revenue for a very long time. That’s the opposite of what startups, scaleups, and mature companies need if they are to build consistent revenue quickly.
Ever-Increasing Need for Collaboration
Large companies are always trying to respond to marketplace shifts, quickly and effectively. Nonetheless, in-house innovation can be challenging due to high demands on resources.
Additionally, the technology sector continues to expand and change. No business can possibly obtain the expertise they need in all aspects of innovation. The sector is far too broad. As a result, collaboration is now essential to business success.
Collaboration Benefits Both Parties
Corporations need to innovate to stay ahead of the competition and disruptions. They also need to access new technology, which existing innovative companies already have or are developing.
The obvious benefits for innovators are corporate funding, greater resources, and the potential to increase customer access. This can strengthen the business and generate more consistent revenue.
Connecting Startups, Scaleups, and Mature Companies with Big Business
Startups, scaleups, and mature companies in the technology realm need a better way to connect with big business. Big business needs a better way to identify suitable, actionable innovations that can solve their business challenges.
Luckily, EarlyBirds can help through their Open Innovation System, Ecosystem Maps, and unique programs.
EarlyBirds Innovation Ecosystem
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal connecting Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
The Ecosystem has a data pool of over 4 million global innovations that may already address organizational challenges. Startups, scaleups, and mature companies can list what they offer, making it easier for big business to find potential solutions for their organizational needs.
Innovators can sell their products directly on the platform too, which is useful to big business looking to accelerate innovation through an initial proof of concept, pilot program, or license.
Furthermore, organizations may benefit, since they may not need to go through procurement each time to secure product trials. Organizations can also list their challenges and request solutions from innovators.
Ecosystem Maps
EarlyBirds develops dynamic ecosystem maps of industry domains, emerging technologies, and organization’s capabilities. These maps help companies understand strengths, weaknesses, and highlight opportunities for collaboration.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet your organisational, technical, and risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who identifies your key issues. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
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EarlyBirds helps startups, scaleups, and mature companies connect with big business. We have helped those in the Public Sector, Retail, Food Industry, Operations & Maintenance, Manufacturing, Finance & Insurance, Energy, Education, Cybersecurity, and other areas connect with innovative solutions.
Startups, scaleups, and mature companies and businesses looking to innovate are encouraged to register at https://earlybirds.io/. Alternatively, please contact us to discuss your needs.