Being innovative is no longer just reserved for startups. At present, bigger companies are also highlighting on innovation to remain competitive by embodying research labs and other entities to further drive innovation.
Accelerators have also gaining popularity among multinational companies (MNCs) as means to inject creativity and efficiency into the traditional corporate ecosystem in exchange for startups to receive guidance, capital and contact to investors. Thereby, creating a win-win situation for both parties. In addition, relevant personnels of organisations that collaborate with startups can get to pick projects to enhance and expand their products and services, create new entities in their image and have an investment in the future.
MNCs can magnify their creative potential by collaborating with more experienced startups who have the capacity for trial and error conditions in uncertain environments, unlike established companies. Further, MNCs can look into the establishment of partnerships with offices that can them be informed and invent.
Participate in the upcoming QS in conversation – “University-Public Sector Partnerships: Smart Cities” which will be held from 3-5 October 2018 in Singapore.