DOI: https://doie.org/10.0612/nerj.2024335854
Shreeram Iyer, Dr. Nisha Bamel, Dr. Mohd Akbar Ansari, Dr. Rahul Singh
Keywords:Prism, Corporate, Innovation, Firm, Work, Startups
Corporate innovation is a critical aspect of the business world, and its growth is becoming increasingly powered by collaborations with startups. These partnerships offer established corporations with access to the agility, innovative ideas, and cutting-edge technologies of young ventures. However, each company approaches these collaborations with unique strategies shaped by their individual goals, resources, and risk tolerance, leading to a phenomenon which is commonly termed the "prism of corporate innovation."
This qualitative, case-study-based research is designed to explore this phenomenon by deconstructing the specific motivations, preferred methods, and unique considerations for success within each company's engagement strategy in the Indian context. By conducting in-depth interviews with diverse stakeholders within the Indian innovation ecosystem, including corporations, startups, incubation centers, and a bank, the study investigates a range of engagement strategies, such as hackathons, accelerators, scouting, and venture capital investments.
The research highlights that although challenges such as cultural differences and mismatched expectations may emerge, success factors such as clear communication and shared goals can help overcome these challenges. By analyzing a series of rich case studies, this research illuminates the spectrum of corporate innovation engagement within India, identifying commonalities and variations across cases.
This research aims to shed light on the complexities of corporate-startup partnerships, providing valuable insights to help corporations and startups forge collaborations that foster both innovation and growth. The findings of this research will be useful to policymakers, entrepreneurs, and other stakeholders in the Indian innovation ecosystem, as well as to corporate innovation practitioners globally.