Checklist for successful collaboration

Collaboration between startups and SMEs offers great potential. While startups stand out through innovative ideas, new technologies, and agility, established companies contribute years of market experience, long-standing customer relationships, and stable structures. Through collaboration, both sides can benefit from one another — for example, in developing new products, the digitalization of processes, or gaining access to new markets.

However, for a collaboration to succeed, a few points should be kept in mind to avoid disappointment and frustration on both sides:

MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg GmbH

Frank Hummler

Frank Hummler

Investmentmanager

Content

Checklist

Define the goals of the partnership

  • What goal do we want to achieve through this partnership?

  • For SMEs: Are these goals aligned with our company's (innovation) strategy?

  • Are the goals of both parties compatible and achievable together?



Reflect on the internal rationale

  • Does it make sense for us to work with a startup or an established company to achieve our goals, or could we achieve the same results with internal resources?



Determine the type of collaboration

  • What form should the collaboration take in order to achieve the goal (e.g., paid pilot project, joint venture, knowledge transfer, etc.)?



Define success metrics

  • How will we measure success?

  • Are the measurement methods sensible, or do they contradict one another?



Consider resources

  • What resources are needed for this collaboration to succeed?

  • Do we have the necessary resources available?

(Does the startup have sufficient financial resources or does the established company have an adequate budget to achieve the collaboration goals?)



Select internal stakeholders

  • Who are the stakeholders in our company who will drive the collaboration forward?

  • Are these the right people to achieve a goal-oriented collaboration?

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