Stina Lantz och Linda Krondahl från Ignite Sweden.
Stina Lantz and Linda Krondahl, Ignite Sweden.

Startups and big companies in collaboration

This week, young startups will meet large companies when Ignite Sweden North is hosted in Umeå. More and more companies want collaboration with startups.

Strategic collaborations are more requested than capital among Sweden’s most talented startups.

Sweden’s entrepreneurial spirit is celebrated worldwide and highlighted as a brilliant example of how startups and established corporations can interact. Ignite Sweden works with startups which are meeting the future with new ideas and innovations by developing new business models and technical solutions.

On Wednesday November 28 Ignite North Sweden is held in Umeå. North of Sweden is a thriving tech zone well worth a deep eye upon. At Ignite North Sweden enterprises will have the opportunity to meet up to eight startups during one intense day. The startups are looking for a potential new customer, validation of their business idea and technology, and help verifying the final product requirements by a potential customer.

“The startups we are working with aren’t just here to find another investor. Instead we establish collaborations between startups and large corporations where knowledge, experience and the ability to develop an idea into a fully competitive company is in focus,” says Stina Lantz, Project Manager, Ignite Sweden.

Collaborations ranks as number one

Numerous larger corporations traditionally believe that capital is what’s most requested among startups. But according to 78% of the startups who participated in Ignite Sweden’s events in 2018, strategic partnerships with large corporations are what are valued the most. It is the possibility to validate products and services as well as finding new customers that is most attractive – and not access to capital.

“More opportunities to collaborate increases the degree of innovation. It is exciting to see how large corporations incorporate startups as suppliers to evaluate them as any other company. It clearly shows how important young companies are to traditional industrial corporations,” Stina Lantz continues.

Influence large corporations

More and more corporations discover cooperation with startups. It is no longer a way to buy new technology and creativity, but an important tool that contributes to innovation. Startups are often a contributing factor to make larger corporations work with disruptive innovation instead of only solving the problems and challenges the customers are asking for.

“I am convinced that more established corporations have a lot to gain from finding partnerships with startups. It lays the foundation for digital progress and becomes the ultimate tool to break traditions and force development,” Stina Lantz concludes.