New Data From InnoLead Shows Nearly 70 Percent of Respondents at Large Corporations Expect Startup Engagement Activity to Increase in 2023
Research Report Highlights the Global 1000's Increased Interest in Startup Collaboration
BOSTON, December 7, 2022 (Newswire.com) - InnoLead, a research and events company based in Boston, has released a new report sponsored by the MIT Office of Corporate Relations, which explores how Global 1000 companies are successfully scouting, collaborating with, and investing in startups.
The report gathered survey data from 146 corporate leaders to understand how they seek to connect to the startup ecosystem, and the challenges they face. Key findings from the report include:
- Sixty-eight percent of survey respondents said they expect their level of startup engagement to increase in 2023, compared with 2022.
- Fifty-six percent of respondents have a corporate venture capital group in place, and one-third of those groups have been created within the past three years.
- Half of the survey respondents said they already have more than 10 collaborations or investments with startups in place.
- But 17 percent of respondents said they haven't yet created a strategy for engaging with startups.
The survey also revealed that the top challenge of partnering with startups, from the corporate perspective, is convincing other internal decision-makers to engage with or invest in a particular startup. That challenge was also atop the list in InnoLead's 2021 research.
InnoLead conducted in-depth interviews with executives from Coca-Cola, Goodyear, JetBlue Ventures, TDK Ventures, and Johnson & Johnson, among others.
"One key lesson of the report is that companies that hope to connect effectively to the startup ecosystem need to approach it as a long game, and think about the benefits for both sides," says InnoLead CEO Scott Kirsner.
For the full 44-page report, please visit https://www.innovationleader.com/research-reports/startup-engagement-corporate-venture-capital/.
To learn more about MIT Corporate Relations, please visit https://corporaterelations.mit.edu/.
InnoLead is a media and events company focused on helping the world's largest companies thrive. Since 2013, InnoLead has built the largest community of corporate innovation, strategy, and R&D executives in both public and private companies, helping these executives to strengthen their innovation programs, connect with useful resources and vendors, and engage with peers online and in person. For more information about InnoLead membership and events, visit www.innolead.com or follow us on Twitter, LinkedIn, Instagram, and Facebook.