Best practices for collaboration between corporates and startups
They say that hindsight is 20/20. A few weeks ago we caught up with some key corporate and startup players in the digital health space to discuss and share key learnings that could help future decision makers and collaborators.
The importance of innovation is not lost on most corporates these days. Forward looking corporates know that often times, the greatest ideas don’t necessarily come from within their business. Some corporates are setting strong examples of how working with and investing in startups can help augment their market position.
Nobody will argue that a lot of the innovation today is led by startups.
Unrestrained by the legacy practices, scale or infrastructure of corporations, startups are agile and rebellious out of necessity (what is now their nature). And they are simply better–placed to use technology to create new business models and remedy dated ones. Public perception of a start-up is completely different as well, startups are no longer a one man band, some 'start-ups' are fast growing companies with significant revenues.
Here are the 12 Commandments highlighting the best practices for collaboration between big and small companies who want to make an impact on healthcare through collaboration, from those who have already learnt from their successes and mistakes.
The 12 Commandments was a collaborative effort of 13 organisations - Roche, Abbott, Wayra, PHS Fund, J&J, 7 Wire Ventures, Imperical Colleage Health Partners, Novartis, Sanofi, Health Beacon, Albion Capital, Plug & Play and Almirall.