How established firms can profit from working with startups
Palgrave Pivot, Cham
School of Business and Law
There are substantial differences in the objectives, working culture and work practices of established companies and startups, and these differences have, until now, been little researched. This chapter presents the most important differences in order to demonstrate how these may influence the ability of these firms to work together to produce successful innovations that benefit both parties. Such differences include attitudes to risk, change and the future. Interviews were conducted with representatives from 20 firms engaged in collaborative projects. The interviews were directed at understanding their objectives in the partnerships, the structural properties of the collaboration, working culture and processes, and the work environment. The results showed specific and common, though not universal, differences, which lead to divergent expectations and behaviour, and therefore provide a basis for improving the partnership.