In an episode of Silicon Valley, startup founder Richard Hendricks reveals something that no venture capitalist wants to hear — he has no business plan.
“I cannot guide you until you give me something to guide,” the VC tells Richard.
Now, imagine the same situation happening with a corporation. It’s a scenario that’s going to become more common.
The rise in collaborations between corporates and startups today signals a change in corporates’ attitude toward the latter. Such tie-ups are now seen as win-win. According to a study on startup and corporate collaborations by Imaginatik and MassChallenge, 23 percent of corporations now see working with startups as “mission critical.”
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