Open Innovation corresponds to the principle of Innovation with external partners (researchers, students, etc.). RaiseLab carries the conviction that the Start-up/large group collaboration Is a Winning duo, and the preferred method in the context of an approach ofOpen Innovation. Discovering this key tool for transformation and innovation within large companies.
To remain leaders and competitive, Major Groups must transform themselves. This transformation involves the search for operational excellence and in particular, through optimization and digitalization. Major Groups must also reinvent themselves by monitoring and creating new offers, products or services. La collaboration enters Startups and large groups is a way to achieve these goals. Exploring this Winning duo.
Open Innovation: definition and explanations
The definition ofOpen Innovation is clear. The latter is defined asset of innovative processes based on sharing and collaboration. In this context, an Open Innovation approach presupposes the opening of the company's Research and Development (R&D) process to external partners and actors.
Historically, this concept was popularized in the early 2000s by Henry Chesbrough, Professor at the prestigious University of California Berkeley in the United States. According to the latter, open innovation is assimilated to theories related to collective intelligence.
Start-up/large group collaboration: how does it work?
In recent years, relationships between Startups and Major Groups have evolved. Collaborations with Startups have developed, confidence in these young structures has increased. In terms of marketing and communication, Major Groups must work hand in hand with these start-ups to show their vitality and embody their Innovation approach to the general public.
But working with Startups is not only a marketing or communication asset. Indeed, Open Innovation with Startups is above all a powerful tool at the service of Large Companies that facilitates transformation and Innovation. In advance, the Major Group must have a precise knowledge of its needs and its functioning:
- Brakes,
- Obstacle points,
- Field issues,
- Employee needs,
- Procedures.
These essential key points must be precisely identified. Secondly, this mapping of needs and the precise state of affairs allow the establishment of a collaboration with a Start-up with clear and relevant objectives.
What are the goals of Open Innovation?
THEOpen Innovation Serves multiples objectives which apply both operationally and strategically. Here are the 3 main objectives that can be achieved through open innovation within a company:
1. Improving operational excellence
An Open Innovation project that aims to improve operational excellence corresponds to the use of innovative tools, methods or solutions aimed at the internal organization of the Major Group. This logic is also an opportunity toBringing a fresh perspective on the internal functioning of society.
2. Diversifying your activities
In order to launch new activities or products, the Major Group relies on the knowledge and expertise of Startups to explore new markets. La diversification of activities presupposes a opening posture and discussions conducted with emerging or disruptive players.
3. Positioning yourself at a break in a market
Positioning yourself at a break in a market requires a radical change in perception. The final objective is to improve the value proposition of the Major Group's solutions in order to stand out from the competition in its marketplace or its sector of activity (industry, technology, banking,...).
How to do Open Innovation?
For Do Open Innovation, the principle consists in extricate yourself in a radical way Of innovative theories developed during the last century. At that time, the objective of business models was to protect innovations so that they did not go beyond the scope of the business.
Today, the Open Innovation concept promotes and encourages the sharing of technological or societal innovations. This collaborative vision establishes the sharing of knowledge and skills for the good of the company. In an increasingly competitive world, developing partnerships is the key solution.
This collaborative approach allows companies to reinvent their processes to go further in their innovative project. However, the installation of this type of Innovation requires operational and methodical support at each stage of the process.
Chez RaiseLab, the expertise and support of Major Groups in their Open Innovation approach is available in 4 main components. These 4 panels are key axes to initiate or develop Open Innovation within a large group:
- Creation : this first part determines the objective of the company (large group, company, ETI, public authorities,...). Then, the aim is to launch an open innovation process linked to this objective. The creation of an innovative project requires structuring the process beforehand to meet the needs of internal teams: resources, management, number of employees, training courses, etc.
- Transformer : the purpose of this second part is to gain in performance thanks to Startup solutions. RaiseLab's support consists in understanding the context and strategic objective of the company, racing and scoring Startups in France and internationally, in framing collaboration and in managing the deployment of projects.
- Explorer : the shutter exploratory allows you to discover new Business opportunities, breaking with the market and then deploying them on a large scale.
- Develop your network : the creation of a community bringing together internal and external actors is an important part of the Open Innovation approach. It turns out that creating a community makes it possible to animate its ecosystem, to promote its actions or even to create content and opportunities for stakeholders.
How to build an Open Innovation strategy, a source of success and concrete results?
For building an Open Innovation strategy, source of success and concrete results, the first step involves questioning processes and collaboration within the company. Here are the structuring questions that make it possible to working collaboratively in a company :
- Identify thepurpose : definition ofthe wherefore And of the typology of the innovative project.
- Determine the medium (how): definition of the operating model that works for the company and its stakeholders.
- Clarify the governance : definition of validation steps, resources and supports as well as decision makers within the stakeholders.
- Structuring a communication : definition of a strategy to promote the Open Innovation approach, the project and the concrete results as well as the internal and external ecosystem mobilized on the subjects.
What are the advantages for a Start-up of joining forces with a Large Group?
For a Start-up, collaborating with a Large Group includes a lot of advantages and a certain interest. With regard to Start-ups, opting for a partnership with Large Companies allows you to benefit from the following advantages:
- increase Ofbusiness opportunities And of turnover.
- Gain in visibility And in credibility.
- Development ofthe network.
Why do companies build partnerships with Startups?
Globally, the development of collaborations with external organizations is a powerful lever at the service of transformation Major groups. It's about the main reason that pushes companies to turn to Startups to form partnerships. Moreover, this observation is shared by the common opinion, in view of the main figures that derive from collaborations between Startups and Major Groups :
- 90% young businesses have commercial relationships with Major groups*.
- 87% of Large Groups consider Open Innovation to be a strategic subject in business*.
Beyond recognizing the value of an open innovation approach for Large Groups, the logic of Open Innovation is now encountering limits focused on the concrete transformation of the project and the commitment of employees:
- Only 30% of POCs (Proof Of Concept), considered successful, are transformed into real projects*.
- Less than 10% of employees in large companies Are really involved in the Business relationship with Startups*.
RaiseLab was designed to respond to these problems and obstacles. Therefore, the objective of RaiseLab is to help Large Groups and Startups to overcome these limits as part of their collaboration.
As a true trusted third party, RaiseLab is positioned between the Major Group and the Start-up to allow the Open Innovation project to become a real common project with clearly identified goals and objectives for all stakeholders. In short, the final objective is to create concrete and measurable value for all actors and at all levels (short term/long term, core Business/Adjacent Business/Business Disruptive Businesses).
Start-up and Large Group Collaboration: Key Tips from RaiseLab
Clearly, collaboration between Startups and Large Groups is a powerful lever for accelerating business transformation. As agile structures, Startups are key partners.
Very often, a new vision external to businesses proves to be particularly beneficial in contributing to the success of new innovative products or services. For develop a collaboration between a Start-up and a Large Company, it is advisable to structure the development of the collaborative project around 5 main questions :
- What is theintended objective (opening new business lines, improving operational excellence, positioning yourself as a break in a market,...)?
- What are the actors (customers, suppliers, competitors, research world, Start-ups,...) to be involved?
- What are the methods and best practices to promote?
- What is the Temporality of the project (retroplanning, chronology, short term/long term vision)?
- Are there any partnerships Or investments to be expected?
Overall, the sharing of knowledge and know-how allows companies to gain in agility and efficiency. For many of them, reinventing themselves is a real challenge, accentuated by digital technology, which leads to a constant modification of their models.
Why join the RaiseLab ecosystem?
Resulting from the collaboration between SL Group and RAISE, RaiseLab is positioned as the first player exclusively dedicated to Open Innovation between Large Groups and Startups in France. Convinced that transformative innovation requires openness to the outside world, RaiseLab combines two activities to support Major Groups in their collaborations with Startups: strategic and operational support for projects and the animation of the Maison RaiseLab in Paris, a place conducive to co-creation and innovation. This ecosystem, bringing together institutional partners and private actors, is oriented towards collaboration as a catalyst for innovation.
The RaiseLab House goes beyond its physical functions as a place. It is positioned as a source of inspiration and reflection, orchestrating events on major contemporary challenges and innovations. RaiseLab aspires to bring together current and future leaders to contribute to business transformation and growth. The organization is also committed to forward-looking initiatives aimed at anticipating and understanding the future.
This collaborative approach, promoting a positive impact, supports a growing number of companies in the design of innovative products or services. By choosing to collaborate with RaiseLab, organizations benefit from tailor-made operational support at all stages of the research and development process.
In summary, RaiseLab represents an innovation hub that transcends traditional boundaries between Large groups and Startups, promoting fruitful collaboration to meet the challenges of the future.
In the end, the Start-up/large group collaboration is a winning duo to do Open Innovation. This concept shows that it is possible to go further in the development and creation of an innovative product or service. Based on this conviction, RaiseLab accompanies you to bring your project to success.
* Source: David with Goliath study by RAISE and Bain & Company (2018 and 2019 editions).
