TheFactory - Partnerships & Corporate Services
TheFactory helps partners stay relevant by connecting with new growth and investment opportunities, and providing support on how to best engage with startups and scaleups.
How do you organize your innovation?
Established companies are under pressure to become more sustainable while retaining or increasing profitability. Most large organizations are organized to drive operational efficiency, not to be innovative. But the digital transformation and the green shift forces companies of almost every industry to innovate, adjust rapidly to new technology, regulation and consumer expectations in order to be competitive.
The question is how does your organization go about innovation? How do you introduce new products, services or processes to serve existing or new customers better?
Internal venture building?
Pilots and partnerships?
Investments through corporate venture capital?
Acquisitions?
Stay relevant by connecting with young technology companies
We believe the best way to meet the future is to interact and explore closely with startups and scaleups — small, lean organizations designed to explore and conquer new ground.
Corporates have found that working alongside startups is an efficient way to both partner with new technologies and to understand the trends that are disrupting their industries. A corporate’s inherent goal is to stay alive and conserve as much cash as possible, while a startup's goal is to grow and use cash to grow as quickly as possible. At the same time, corporates have cash and customers, and startups need to grow. Therefore, the two are finding that working together is proving to be mutually beneficial.Patric Riley, CEO of GAN Global Accelerator Network
DON´T GET LEFT BEHIND
Around 50% of large listed Nordic companies have an active Corporate Venture Capital Unit, not only looking for ROI, but to innovate and introduce new or better services through collaboration with startups and scaleups. About 75% of large listed Nordic companies have some experience in collaborating with startups, though not without its challenges.
TheFactory InnoBridge - Bridging the gap between corporations & scaleups
Our playground is Norway and the Nordics. As a leading Nordic accelerator and innovation hub, TheFactory has accelerated 300+ startups and invested in more than 50 of these in several industries, including financial services, real estate, sustainability and more. Our team follows the Norwegian and Nordic startup scene closely, and we know how to find just what you are looking for.
With our InnoBridge service, we help you solve your long-term innovation and sustainability challenges by connecting you with the most relevant startups and scaleups from the Nordic region and beyond. We work with sustainably oriented entrepreneurs, startups, scaleups and corporate partners primarily within financial services, insurance, real estate and retail.
We have guided many corporate-startup partnerships and know that they can be immensely powerful. We also know they at times can be frustrating and hard to manage. This is why we have researched the dynamics of startup-corporate relationships and have developed a unique framework to help corporations and startups succeed in collaborations.
Why do corporations want to collaborate with startups and scaleups?
To find new ways to serve their customers better.
To learn how to innovate faster and optimize efficiency with new technologies.
To explore, open and enter new markets or approach new segments.
To strengthen their brand, employee engagement & CSR efforts.
To acquire new technology and talent for the corporation.
Why do startups and scaleups want to collaborate with corporations?
To gain credibility and legitimacy.
To validate their ideas/proof of concept (PoC)/Minimum viable product (MVP).
To get mentoring, feedback and additional resources.
To gain potential funding for their startups or innovation projects.
To gain access to datasets and industrial knowhow.