Ideas and Innovation Platforms
Big tech companies and startups are partnering to market the startup's innovations. Large tech firms get the innovations and the startups get the financing and marketing clout. Big tech firms are creating ideas marketplaces/platforms which startups can use to bring their ideas and innovations and create products and services required by big tech. To partner with a big tech firm, startups must have proven their worth first.
Microsoft Accelerator's Bala Girisaballa says that while big tech firms have good connections with Fortune 500 firms, "A joint bidding for a deal with startups provides the startups invaluable access". He notes that the services component in deals is shrinking, and that makes products and platforms from startups invaluable in the digital transformation that customers demand. Microsoft has its cloud platform Azure while IBM has its cognitive platform Watson. "Working with a hundred startups simultaneously means that companies like Microsoft can open up conversations with all customers as the platform will have a solution for most customer problems," Girisaballa says.
Virtually every industry is adopting digital tech to improve customer experiences and create new revenue streams. This requires new solutions using IoT, analytics and AI. Big tech, therefore, needs ideas from startups to innovate.
SJP @DigitalAsian - ShareYaar - IdeaIndia.Com