This document provides a guide on how corporations can effectively collaborate with startups to promote innovation. It outlines 10 steps for kickstarting startup-driven innovation, including defining goals, finding the right innovation projects, securing internal buy-in, starting small with hackathons or workshops, going bigger with accelerators or open innovation programs, issuing open calls, defining startup offerings, selecting the best-fit startups, and embarking on successful collaborations with guidance from advisors. The advisory firm Pioneers Discover can help corporations at every step of working with startups.

1. A GUIDE ON:
HOW TO KICKSTART
STARTUP-CORPORATE COLLABORATION

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ABOUT & FAQ
A PIONEERS DISCOVER REPORT
As an advisory for startup-driven innovation, we receive a
lot of inquiries on how corporates can effectively
collaborate with startups in order to promote innovation.
This helpful guide addresses some of the top questions we
get, leveraging the learnings and insights we’ve gleaned
from over 80+ projects. They include:
- What is the best way to kickstart startup-driven innovation?
- What can my company do to establish sustainable startup-driven
innovation?
- Which innovation methods are most effective for my company?
- How does my company secure internal commitment to
innovation?

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Define the reason why you wish to work with startups – is it mainly about product or market
innovation, or are you seeking new talent or technologies?
Reasons to consider:
product innovation / process innovation / market innovation / new business models &
revenue streams /culture & mind-shift / talent search / branding
1. START WITH WHY!

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Setting clear and measurable outcomes will help you to determine the right strategy for
achieving success. What exactly is it that you wish to achieve with the startup initiative?
Potential outcomes:
2. SET A GOAL
- Foothold into a disruptive new technology or market space
- Financial results on equity investments
- Integration of innovative technologies or business models into
organization
- Open and innovative company culture

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Defining an innovation area is more than half the battle.
Once you’ve determined the specific challenge or innovation area where startups can assist,
the startup scouting field as well as the collaboration approach can be developed.
A workshop with startups and experts will help to uncover innovation challenges
and opportunities, and potential next steps.
3. DEFINE YOUR INNOVATION PROJECT

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For innovation to succeed, you need plenty of internal support and backing from all levels –
including management, which determines the budget,
and employees, who work the projects.
Get colleagues and management on board by hosting a startup-collaboration workshop that
demonstrates clear benefits and concrete opportunities for the company.
4. GET BUY-IN

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There are many startup-driven innovation approaches: accelerators, VC funds, open
innovation programs, to name just a view. If you are not sure how exactly you can benefit
from startup collaboration, start with a small kick-off project and go from there.
Small kick-off projects include:
5. IF YOU DON’T KNOW WHERE TO START –
START SMALL
- Hackathon: Invite startups to hack a problem in 48 hours or less
- Startup 101 Workshop: Learn how startups operate and approach innovation
- Innovation Day: Learn about innovation and how to incorporate it into your
organization

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If you know startup-driven innovation is the way to go, set up a bigger initiative with greater
output and impact.
Large kick-off projects include:
- Accelerator/Incubator Program: Invite startups to develop solutions
while fostering their growth and development
- Open Innovation Program: Source innovation ideas from various stakeholders
- ‘Discover Club’: Internal innovation taskforce trained on startup tools and
methods, and innovates in guided sprints
6. IF YOU WANT IT ALL - GO BIG!

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Most companies lack a clear process for proactively finding and engaging startups –
often it falls on ill-equipped business units to do the job.
Communicate the challenge you want to solve!
Create an open innovation platform where startups can apply and contribute their solutions.
Then, you can scout the startups with the best ideas and invite them to take part in the
project.
7. CREATE AN OPEN CALL

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It’s no longer easy to win startups for a collaboration, since the rise in demand for startup-
driven innovation means more corporates are fishing in the same territory. To lure startups
for a partnership, make clear what resources you can provide.
Possible resources to highlight:
- Infrastructure / Labs / R&D/ Technology Access
- Supplier & distribution network
- Access to customers & partners
- Accelerator Program & funding/investment
8. DEFINE YOUR STARTUP OFFERING

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There are many startups worth collaborating with out there, however only a few might be a
great match for you. Not every startup fits every project, that is why you must thoroughly
screen startups based on pre-defined criteria to create a basis for a long-term partnership.
Top startup considerations:
- Product offering, technology & traction
- Team & expertise
- Funding stage & next strategic goals
9. PICK THE RIGHT STARTUPS

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If you’d like to embark on a successful partnership with a startup, Pioneers Discover is happy
to help:
ü Define innovation challenges and opportunities
ü Introduce the startup mindset and tools to your company
ü Bring you the startups, technologies and trends relevant to your organization
ü Find the best-fit startups to achieve your innovation goals
ü Help to bring ideas to life
10. EMBARK ON A SUCCESSFUL
COLLABORATION!

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A D V I S O R Y F O R
S T A R T U P - D R I V E N I N N O V A T I O N A team of corporate innovation
and startup specialists.
70+
collaboration projects on an
international scale.
A network of 13,000+ high-
potential early-stage startups.
We help corporations implement innovation
through the potential of startups and their
technology.

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Happy to help!
Feel free to contact us in case you have
questions about startup-driven
innovation or how your company might
benefit from collaborating with a startup!
Tamara Stix
Sr. Innovation Consultant
tamara.stix@pioneers.io
www.pioneers.io/discover

15. Let‘s make YOU pioneer.
pioneers.io/discover
@pioneers @pioneersfestival pioneers.io
ADVISORY FOR STARTUP-DRIVEN INNOVATION