Corporates
- Lack of innovation culture - fear of being disrupted before they can act
- Changing priorities within corporate
- Activating and prioritising resources - people and money
- Defining a lean approach to activating the engagement
- Personal risk vs career risk
- Leap of faith needed to embrace startups without a track record
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Corporates
- Business innovation is not seen as a strategic imperative
- Lack of urgency and speed in decision making around the ‘new’ vs ‘today’
- Lack of internal alignment at senior level
- Alignment of Corporate/Startup visions and values
- Wasted opportunities - “we miss something”
- Lack of upfront transparency to aid understanding of compliance requirements and other necessary information
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Corporates
- Sourcing talent - introducing fresh thinking and new ways of working together
- Solving problems faster and cheaper
- Ability to co-create common tools and processes
- Being relevant - working on solutions to solve real problems
Grow through projects - adopt a startup ‘test and learn’ approach
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Startups
- Corporates are highly risk-averse
- Lack of transparency as to the corporate’s strategy and objectives
- Knowing what and who is available within the organisational innovation ecosystem
- Speed of corporate decision-making
- Being relevant - knowing you are working on a real problem they have
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Startups
- Lack of documentation and internal processes to meet corporates needs
- Burning lots of money before confirmed engagement
- Corporate’s lack of transparency around strategy and objectives
- Alignment of Corporate/Startup visions and values
- Personal reputation risk
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Startups
- Knowing what and who is available to connect at the right level
- Designing a lean approach to activating the engagement
- Creating a set of common tools and processes
- Utilising NZ innovation ecosystem to test ideas before going global
- Being relevant - working on solutions to solve real problem
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