At least 40% of all businesses will die in the next 10 years…
if they don’t figure out how to change their entire company
to accommodate new technologies.
Startups are the best future prediction engine ever. Innovation comes from small, agile organisations, from people taking risks and pushing boundaries forward. Startups are disrupting whole industries and changing the business landscape forever, as this article explains. Since 2010, over 21.800 startups have exited worldwide for a total deal value of about 1.2 trillion dollars.
Large companies have long understood that turning to startups was a mandatory exercise and a major component of their innovation arsenal. You can expect to see more partnerships and collaborations taking place between them and startups as 80% of corporates are interested in knowing more about startups and pursuing a professional relationship.
A new business opens every three seconds. For companies, it is very difficult and time-consuming to spot the right startups to work with. In big corporations, large teams can be dedicated to spotting and analyzing startup files. In midsized companies, this work is often done by a single individual on top of his other duties. It’s either very expensive, or inefficient. In both cases, it’s not optimal.
Companies use different means for their startup scouting activities: databases, events, ecosystem relations or consultants. None of them combines speed, reach, quality, affordability and time-saving. New AI technologies like machine learning and NLP are almost non-existent in that business. The startup scene is chaotic, worldwide, noisy – AI can leverage personalisation, context and networks.
Prepare for the future
Engage in the Corporate Venturing trend and avoid the doomed fate of the following companies
