Unilever predicts closer corporate and start-up collaboration
19 Sep 2017 --- Unilever Foundry has launched a global study into corporate and start-up collaboration at the Dmexco conference. The Unilever Foundry is Unilever’s platform for start-ups and innovators to engage, collaborate and explore business opportunities with Unilever and its 400+ brands.
Through the Unilever Foundry, start-ups can view and apply to address new briefs from the company’s brands and functions, apply for mentorship through its partners and register to attend events across the world.
Unilever Foundry predicts corporates and start-ups will form the ultimate partnership, working side by side in the same physical space by 2025, seeking greater proximity for innovation as they evolve to meet changing consumer needs.
“The State of Innovation,” a global study and white paper from Unilever Foundry, was launched by Unilever EVP Global Marketing, Aline Santos. It looks at how the relationship between corporates and start-ups will continue to evolve and identifies three predictions on how the industry will change over the next decade.
“Collaboration can no longer be viewed as an optional extra, it’s a strategic imperative. Start-ups are now widely recognized as invaluable sources of innovation, fueling growth and providing pioneering business solutions,” says Aline Santos, Unilever EVP Global Marketing.
“The State of Innovation report reveals the appetite for collaboration between corporates and start-ups and signals a shift in the models adopted for future partnerships. As the Unilever Foundry continues its journey looking for exciting new partnerships, we are continually learning to ensure our future collaborations are effective as possible.”
Start-ups and corporates to work side by side in the same office by 2025
As the pace of change increases, corporations know that to meet evolving consumer needs they need to look for the right partners to innovate and build relationships with.
With 90 percent of corporates already working with a start-up expecting to continue to do so, Unilever Foundry predicts physical shared working spaces will become commonplace to facilitate growth and break down barriers to collaboration.
The research reveals the three most important reasons for working together: learning something new (start-ups 88 percent/corporates 85 percent); improving efficiency (start-ups 81 percent/corporates 81 percent), and solving business problems in new ways that can scale (start-ups 89 percent /corporates 80 percent).
The future of corporate and startup innovation
After an initial rise in “tech tourism” – shorter term activity ranging from trips to tech HQs to less formal partnerships – a longer-term model will win out. While 83 percent of start-ups value the publicity from these short-term models, 80 percent of corporates believe that start-ups can have a positive impact on large companies’ approaches to innovation.
As a result, Unilever Foundry predicts that large businesses will become more willing to invest in structured programs as companies choose meaningful partnerships over PR-driven quick fixes.
One start-up described their experience with tech tourism models saying: “At the low end of the spectrum is tech tourism: a brand shows up in Silicon Valley, rides the Google slide, meets a couple of startups – at best it's inspirational but basically it's a waste of time. […] Start-ups want meaningful new initiatives and uses of technology.”
Start-up and corporate collaboration will evolve and become critical
In order to keep up with the accelerating rate of innovation in business, Unilever Foundry predicts that start-up collaboration will become a necessity for corporates over the next five years, with around four out of five corporates (79 percent) and start-ups (78 percent) anticipating more collaborative work in the future.
Start-ups believe that they are up to the task, with almost nine in ten (89 percent) claiming that they’re able to deliver business solutions which can scale.
