It's time to get better at matching

Sander van der Blonk
Sander van der Blonk
Apr 15, 2022
2
minutes
It's time to get better at matching

More and more established companies are innovating through partnerships with start-ups.

Yet, start-ups tell us they have difficulty connecting with the right industry players. And large companies report that they often can't find the solutions they need.

Are we facing a massive FIND problem?

No. There is a MATCHING issue.

What's happening?

Assume your boss asks: "What's the bottom-line impact of those events and challenge competitions you've organized in the past year?"

Most probably, you will have difficulty showing the business outcomes.

You're not alone.

According to the latest academic literature, the impact of hackathons, challenge prizes, accelerators, and corporate investment arms has been limited.

The hardest part of any engagement mechanism is convincing people in the organization to prioritize start-up collaboration and allocate resources. And then integrate the outcomes.

Without buy-in, working with start-ups remains a PR effort on the side. And a career-limiting move.

And so, we are at a transition point: The game's name is showing the economics of start-up collaboration, not running one-off events.

It will change how companies organize for what matters most: Matching.

See the below picture.

Today, incumbent companies believe that the key to success lies in scouting and deal flow. They spend a lot of effort and money on it.

But, we know from research that wrong start-up assessment (and ill-conceived pilots) accounts for 75% of partnering failure.  

By and large, expectations crash, not a start-up's technology.

So, getting to a clear and mutual understanding about a common goal, need, and way of working is critical before you team up. And as no two start-ups are the same, each collaboration needs to be customized.

What to do?

Start-ups come and go. Allocating more resources to scouting will not lead to better outcomes per se.

Instead, adopt a disciplined opportunity assessment process to review dozens of start-ups efficiently and repeatedly. And get others in the organization aligned without disturbing their everyday.

We know that the odds of better choices then improve. And that's what your boss will appreciate.

Do you want to be more efficient and confident in finding best-fitting start-ups? We'd be glad to show you how you can with our training, tools and templates.

Request a demo.

Save hundreds of hours and be confident at every step. See how Scoutely helps perfect the pipelining efforts. And make better collective decisions fast enough to compete.

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