In today’s growing investment market, startups are more confident than ever before. Being a startup founder or entrepreneur is a career path that ambitious young professionals prefer over a corporate career path. UBI Global coordinates startup ecosystems all over the world and observes that an extraordinarily high percentage of all startups express a desire to work with corporations in some capacity. Just because a business is in the startup phase doesn’t mean that it isn’t selective about who they work with and how. Partnership with the right corporation can make or break a startup.
So what, exactly, are startups looking for from their corporate partners?
Most startups view their partnerships with corporations as a long-term relationship, with the corporation as a customer with which the startup does direct sales. This gives the startup access to market share much faster than it could possibly gain on its own.
In contrast, a B2C relationship with a startup could see the corporation become a licensed owner of the startup’s product, an investor in the startup or another form of strategic partnership. This also gives the startup access to a marketing channel they wouldn’t otherwise be able to accomplish in such a short period of time.
It is this type of partnership that creates the deep relationship that startups are savvy enough to cultivate, and really a situation that is mutually beneficial. For this reason, the best startups concentrate on finding corporate partners that fit the product and/or have a similar culture.
The best startups see their corporate partners as more than just an open bank account
The best startups see their corporate partners as more than just an open bank account; they see them as mentors who offer access to rich resources, advice, and opportunities for mutual gain. Savvy startups know they have great ideas, but crave the guidance of a more experienced role model who can give advice on how to grow or overcome challenges.
Certain industries are more difficult for startups to enter and require years of insight and experience; for instance, the automotive industry. Credibility and industry knowledge go a long way with customers, and startups know it’s needed. Pharmaceutical, healthcare, media, and publishing, as well as technology and telecommunications, are all industry sectors that fall under the banner of being tough to enter as a startup.
UBI Global’s experienced staff recognizes the most promising startups in every industry, understands their needs and requirements and can make the best match with corporate accelerator partners for the best chance of success.
Do you want your corporate to be matched with the right incubation partner and/or their startups? E-mail today at firstname.lastname@example.org and let’s start the dialogue.