Rob Chapman – Director at Founders Intelligence

Rob Chapman  – Director at Founders Intelligence

[MUSIC PLAYING] So for a startup, it’s
incredibly useful, because they can test
their product market fit by getting a deal done
early in their development. And that might be that
they’re saying to their end customer, which
is the corporate, and so they’re testing
the fit that way. Or it might be they’re
working with people who’ve been selling products to their
consumers for a long time and so understand that market
that they’re targeting. So Founders
Intelligence was started to try and bridge that
gap between corporates and startups. And the way we go
about that is really trying to help
corporates to understand how they can set themselves
up to more effectively engage with the startup community. And there are a number
things they have to do. Firstly, to really
understand what they’re trying to
get out of it, and so set the structure
up in the right way. But then think about
from a startup, how can you make
yourself most attractive? So any corporate
should be looking to work with the best
technology partner no matter where they
are in the world, rather than focusing on
people in their local markets. And in order to do that,
you need to, as a corporate, be attractive for the startups
to come and work with you. And so we spend a lot of time
with our clients, helping them think through how
you set the right legal structures, the right
internal governance around it, the right financial structures. So that when you go
out to the market and you talk to startups,
you can say, well, look, we’re going to be a
good partner for you. We’re going to be
good to work with, because we thought
in advance about how we’re going to engage with
you, how this project will move forward. So it won’t be a long
procurement process. It’ll be a quick decision. We’ll get projects
going, and we can prove the value of the relationship. When we first started
out, Founders Intelligence was having conversations
about why corporates should work with startups. And actually, over the
last two and a half years, our clients and the corporates
we speak to every day are now asking
about how they do it and what the best
structures are. They’ve got over
that why question. So I think the reason
that’s happened is, because there’s been so
many more examples of corporates doing it well. So I think the
ecosystem of corporates trying to do it will continue
to grow over the next few years. And I think there’s a growing
ecosystem of partners around for them to turn to and make
sure they do it properly. And I think it’s only by having
case studies of corporates who’ve really got
it right that we’ll see every corporate around
the world start engaging with startups. [MUSIC PLAYING]

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