Challenges, Risks and Opportunities

Top 5 Challenges	Top 5 Risks	Top 5 Opportunities
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	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	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
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	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	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 problems

FACILITATOR COMMENTARY Free-flowing discussions led to commitment to using the challenges, risk and opportunities to design new ways of engaging and working together. There was recognition of each other’s strengths and issues - time/speed, money, resources. A number of opportunities to co-create a common ‘working together plan’, were discussed with tangible tools and resources identified. There was also a an understanding that relationship development across the ecosystem is key, so connections and ongoing conversations were seen as important.