In the third instalment from my presentation on “Leveraging Startup Innovation” we’ll talk about:
Considerations when engaging with Startups
What to consider when engaging with Startups.
Moonshot recommends these 3 main considerations when engaging with Startups:
- Identify, Screen and Monitor –
How will you identify, screen and monitor your engagement with Startups? Startups can change, pivot or stop their offering in short timeframes, depending on feedback from their customers. If you are speaking with Startup founders today about solving problem X, in 12 months time when you are ready to do a deal, they may have pivoted to now be solving problem Y. Moonshot specialises in helping medium to large organisations engage with Startups including the identification, screening and monitoring process. We know first hand how big a project it can be to curate!
- Your Value –
What value are you bringing to the table? Even if you don’t have a big budget, large organisations can instead leverage their customers, member base, staff, marketing expertise, physical locations or even supplier networks to the benefit of Startups.
- Outcomes –
Have a clear idea of what outcomes you are looking for when engaging with Startups. Don’t just do it because it is the latest trend in the market and will keep your shareholders happy. Any organisation can create huge win-win outcomes when engaging with Startups if they go in with clear goals, and have buy in from the highest level of the organisation.
You really can have huge win-win outcomes when you do all 3 of these steps properly. If you would like some assistance with any of these steps, please reach out to us – we’re happy to help!