Launched in October 2013 and funded within the Seventh Framework Programme of the European Union, OPENAXEL (www. OPENAXEL.com) is a 30-month project involving 8 partners (leading accelerators, institutional entities, and specialized innovation consulting firms) from 6 European countries and with wide international exposure. OPENAXEL intends to open the entrepreneurial ecosystem in Europe by identifying the key stakeholders of the acceleration and the ICT industries and fostering coordinated involvement and smart cooperation among them.
With the OpenAxel WhitePaper on Corporate Startup Engagement , OPENAXEL partners wish to contribute to the lively debate on how to shorten the gap between established corporations and innovative digital startups. The analysis has been focussed on the role of business accelerators in facilitating collaboration initiatives.
The white paper start by analysing how large companies engage with start ups, a trend called Corporate StartUp Engagement (CSE). More than half of the world’s 500 biggest
public companies work with startups. Interactions between startups and corporations are
becoming increasingly popular and Europe is in the forefront of CSE.
According to OpenAxel “In light of the survey findings, almost all (97%) the European corporations have carefully analysed their needs for open innovation, though implementations are still on their way.”
The report has several interesting Case Studies of European companies doing CSE through several initiatives:
- Business Plan / Hackathons
- Partnerships with external accelerators / incubators
- Corportate Accelerator /Incubator
- Corportae Venutre Capital
- Scouting / Consultancy firms
The White Paper is aimed at:
- Startups and corporations: might find interesting suggestions on best practices and key problems. Additionally, they can find useful tips on how to identify good partners in the accelerators universe.
- Accelerator managers: might put into use a new set of self-assessment tools to position their business towards both kinds of clients.
- Policy makers: might survey up-to-date implementations of good practices by European corporations, and a framework to detect accelerators, which could help sustain policies of open innovation.
The document ends with some nice recommendations for the CSE ecosystems and participants. Enjoy the reading!