Startups and Brand Partnerships
Brands can be very valuable to startups with scalability; and I am not just referring to sponsorship of pitch contests, hackathons, or traditional elements of startup summits and conferences, etc., but long-term official partnerships.
Matching the business model of startups and their projects with brand objectives/needs within their search for alternate channels when it comes to innovation is critical in these collaborations. As a result a new business model has emerged encompassing all of the participants who each have a stake in this effort becoming successful.
Some brands have gone as far as designing models to work deeply with startup teams, starting with seed funding, then connecting them with strategic advisors and key business units inside their organisation as a means of mentoring. The hope is to nurture these startups to Series A funding and beyond.
Strategic Engagement and Activation
This could be yet another opportunity for us as agencies as we explore further options of strategic engagement and activation, generating authentic brand perception and branding association.
The current weaknesses of traditional innovation approaches have led us to explore these different avenues and seek new inspiration. (see “Innovation Platform” for more)
Innovative Processes
In today’s digital world, many of these solutions rely on innovative processes, and much of this innovation comes from startups. Established organisations increasingly look outside their own businesses for new ideas, technologies and capabilities that can complement internal innovation.
Intrapreneurs within those organisations can play an important role, especially when they collaborate with entrepreneurs and startups outside the business.
This creates opportunities to build an innovation ecosystem connecting startups, corporate partners, investors, Corporate Venture Capital teams, vendors, and academic institutions. Focus on collaboration, not exploitation.
As one part of the equation and as a brand partnership, sponsorship and activation agency, we can help brands navigate the emerging technology and startup landscape. But it’s also helping startups, incubators and accelerators realise the value of long-term brand partnerships critical for this marriage to work effectively.
An agency must have the proper resources in place, including direct relationships with brands, and their business development and corporate partnership decision makers, to “pitch” the potential opportunities and business plans presented as living documents by the ever-evolving startup industry.
In order to resonate with and excite the brand and marketers, along with the ad and media agencies, startups must also highlight and include their big picture and long-term aspirations, and not just what’s on their agenda currently.
These official partnerships and brand and co-branding alliances, if done properly, can be a win-win-win for all the parties involved. We are ready to go to work if you are.