Build: Startups typically serve as inspiration for larger companies to develop next-generation products and services on their own, become more agile, and leverage the latest technologies. For this reason, large companies should constantly be on the lookout for the next big thing.
Buy: Companies that are capable of developing a particular product or service internally, but lack the expertise, may acquire or invest directly to hire an external team of experts. This usually does not mean acquiring a startup, but rather specific services or capabilities offered by the startup.
Partners: More and more companies are running startup initiatives. Companies such as Daimler, DZ Bank, and Adidas consistently monitor the startup environment. The selected startups then present their projects, hold hackathons, or collaborate to overcome common challenges.
Investing: Companies invest in promising startups that are working on the latest technologies that could benefit their industry or their own growth.
Co-develop: Companies want to co-develop products with startups, leveraging their expertise in a particular area, be it a technology, methodology, or business model. In return, the startup gets access to market insights, mentoring, and business networks.