Study goals
Innovation is considered a driving force that allows organizations and nations to achieve or sustain a competitive advantage. In this context, there is a segment of companies that has stood out in recent years: startups. The way in which large corporations engage with startups can vary considerably, from one-off events or acceleration programs, to eventual acquisitions. Therefore, the objective of this work was to analyze an open innovation initiative of a large Brazilian corporation that included everything from proof of concept to the acquisition of a startup in its entirety.
Relevance / originality
Open innovation models allow large corporations to use in their favor the thousands of early-stage solutions that emerge daily through startups, rather than competing with them, whether to improve their value proposition, make some process more efficient or add them to the portfolio. There are few studies on these types of interactions. In this study, the corporation in question chose to work with a startup acceleration model, in which a relationship was established with five startups and the support of an external partner who has experience with similar programs via a structured work model lasting four months, a model little mentioned in the literature.
Methodology / approach
To achieve the corporation's innovation objectives, an interaction model between the corporation and the startups was adopted through a third agent responsible for conducting a Startup Acceleration Program. The four-month acceleration cycle was divided into eight fortnights and each fortnight was called a sprint, so there were eight acceleration sprints. Success indicators were defined for the follow-up of each proof of concept and after the end of the acceleration process, the results were evaluated and the next steps for the relationship between the companies were defined.
Main results
Through the acceleration program the corporation was able to solve some of its problems with the help of startups and, mainly, managed to develop innovations that were outside the core of its business, something that was a concern of the company, since working in adjacent and / or transformational innovations internally had already proved a challenge. Additionally, in a subsequent survey conducted by the author with the corporation, it was shown that the corporation was satisfied with the process, the way it was conducted and the results presented by the work with the startups.
Theoretical / methodological contributions
Few studies on corporate acceleration programs are found in the literature, this study therefore contributes data for future analyzes of similar models. Additionally, as demonstrated in the report in question, the same model of open innovation in a corporation has generated different results in interactions with different startups. Such results generated questions that can serve as a basis for future studies in the area.
Social / management contributions
The results obtained point out that an acceleration program is a great initiative to obtain innovation in an open model. The interaction with startups generated lessons for the corporation that would not have been possible had it focused on making such innovations internally. The startup's maturity factor played a greater role in determining whether the long-term relationship would be built. Smaller team startups were less likely to have a lasting relationship set up. The interaction model, on the other hand, does not seem to be decisive for the perpetuity of the relationship.