Engagement between start-ups and corporations explored
Harietta Eleftherochorinou, Managing Vice President of Innovation Ventures at IQVIA, an S&P 500 company, wrote this article for MedCity News that is focused on corporate work with start-ups in the life science sector.
“Most of (big corporate) life sciences firms – 18 of the top 20 – have established innovation hubs or centers that operate as corporate VCs (venture capital), incubators, and accelerators,” she says. “Innovation hub and start-up engagement models can take one of a few flavors with equity investments, commercial partnerships and accelerator programs covering most of the cases.”
Describing the early process of exploration between a large corporation and a start-up as like dating, she notes that “there are critical elements in the evaluation process where alignment should be achieved around the innovation factor, the product-market fit, the market potential, the viability of the business model – it becomes the 1+1=3 rule.”
It’s a pretty insightful article for those entrepreneurs interested in exploring a corporate partnership, regardless of industry sector.