As a large enterprise, why do you engage with startups and how do you choose the right ones?
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There are many reasons why large enterprises engage with startups. Some of the most common reasons include:
1. To gain access to new and innovative technologies.
2. To find new and innovative ways to solve problems.
3. To tap into new markets.
4. To find new and innovative products and services.
We have a special team in Merge and Acquisitions department for doing this based on market tendencies and to bring new and innovative relations.
We buy them to integrate them in to our core service offering. Selection process is rigorous and to date successful.
Engagement with startups is an important and easy way to understand what technology and innovation may be emerging that you should be aware of.
Fully agree with you.<br>I will just add that sometimes they have a product that big established companies don't. 90% of our interaction is with an established business, only 10% is using products from startups and we choose startups as they have products that we needed but did not know existed on the market.<br>
We seek to establish long term partnerships with large and small firms. When we begin exploring a relationship with a partner, we look to it as almost an interview to determine if we are compatible and if they will truly partner, or if they just seek to make a quick sale. We also look for references and results.