Big companies want to get into bed with entrepreneurs
Every other well-established company sees value in collaborating with entrepreneurs. But far fewer have actually tried it out.
More than every tenth well-established company in the Confederation of Danish Industry’s business panel see “very much” value in collaborating with entrepreneurs. Adding to that the 35% that see “some” value in such collaborations, every other company sees potential, shows a new analysis carried out by the Confederation of Danish Industry together with TechBBQ, a tech summit taking place 24-25 September.
The summit focuses on collaboration between established companies and startups, and according to Avnit Singh, CXO at TechBBQ, the analysis shows that both sides have become increasingly aware of the advantages to teaming up.
We’ve launched a matchmaking platform to help members team up on precisely the thing they want to collaborate on CEO Kent Damsgaard, DI
“In other countries, established tech companies have long played a much greater role than in Denmark. But we’re seeing more collaborations between startups and established companies at home, and along with the analysis, that indicates that the Danish ecosystem is maturing,” says Avnit Singh.
Read the analysis: Cooperation between established companies and startups
Potential for more
Meanwhile, only 39% of companies in DI’s panel have or have had partnerships with entrepreneurs, and that is why DI believes there is potential for even more collaboration.
“We can only encourage business leaders to look into the possibilities. The fact that companies benefit from collaboration is not news. But because we live in a time when technology and markets are constantly evolving, it’s about making use of all available shortcuts that can help bring established companies closer to the latest developments. And at the same time, new startups have the chance to accelerate their development,” says CEO Kent Damsgaard, DI.
Help with legal requirements
According to the study, innovation is the area where collaboration has the most to offer. However, access to new knowledge and competences and development of new business models are also areas in which both established companies and startups see potential.
This is true of the collaboration between startup Copenhagen Industries, which produces electronically controlled replica weapons for the film industry, and EKTOS, which has worked with developing and testing electronics since 2007.
“Our collaboration with Copenhagen Industries is a good and inspiring way to help a new company move forwards. They have a really good foundation and a good idea, which is why we want to lend them a helping hand by sharing what we know. Whether or not they eventually become our client is not what’s important right now,” says Director Niels Martin Jørgensen, EKTOS.
One of the things EKTOS helps Copenhagen Industries with is understanding the legal requirements their products must fulfil.
“We’re brand new to the market and don’t yet have experience with testing and certifications, so for us it’s incredible to connect with people who both know what’s required and understand our situation,” says Mie Haraldsted, CTO at Copenhagen Industries.
DI stepping up initiatives to promote collaboration
Copenhagen Industries and EKTOS met at a DI event where entrepreneurs had the chance to introduce themselves to more established companies. It is precisely such meetings between companies that DI wants to help promote.
“As a trade organisation for almost 11,000 companies, large and small, new and old and in all industries, we’re a natural breeding ground for these kinds of collaborations. We’ve therefore launched a matchmaking platform to help members team up on precisely the thing they want to collaborate on,” says Kent Damsgaard.