Part 2: How Can Corporations Be More Interesting To Startups

Following our interview with David Lai, CEO of YES.TAP, we wanted to find out how other startups thought corporations could make themselves look more attractive to the startup world. Many big companies have been struggling to get successfully involved in the startup community so who better to learn from than the startups themselves.

Victor Dillard, COO and founder of Desktop Genetics, told us what he thought corporations could do. After working with several large biotechnology firms, the team at this life sciences software startup have learnt a few things about working with the big guys.

Victor said: “I believe large corporations can make themselves more attractive to prospective startups by facilitating and simplifying interaction with new products and services from startups.

Specifically, encourage their employees to pilot new products and services and discourage the bearish view of startups. This requires a greater appetite for risk, innovation and entrepreneurship, and an infrastructure change to make it easier for new products and services to be tried (e.g. test platforms, servers and projects that enable secure and trusted trials of new products & services).”

We also spoke to Anthony Ng Monica, CEO of Swogo, about how he thought corporations could make themselves more attractive to the startup world. Working with the likes of Tesco, Shop Direct Group and CDiscount he has first hand experience with large corporations. He said: “Corporations can do a lot to make themselves more attractive to startups. Most importantly, corporates should start by promoting a culture of experimentation. In order for this to be effective, senior management must lead by example and get involved with startups. Tesco do a fantastic job at this with their partnership with Rainmaking Loft. I would then look at simplifying the decision making process and ensure that the right technical infrastructure is in place.”
With startups coming up with more amazing ideas and growing in prominence each day it’s important for corporations to learn from them how their relationships can develop in a mutually beneficial way.

Image credit: Caccamo