Why Read This Report
These days, every man and his dog seem to have an incubator, a lab, or a venture fund in pursuit of startups. Many of these initiatives will disappear quietly in a few years, unable to prove their value.
It’s time to move beyond startup engagements that deliver only marketing hot air. There are potential cultural, commercial, and financial benefits to working with startups, but also plenty of risks. This report helps eBusiness executives at financial services firms navigate these risks and make the most of these budding relationships with startups.
Financial Technology Startups And Incumbents Are Getting Closer
Accelerators, labs, and venture funds are mushrooming as incumbents look for cuttingedge technology and speed, startups crave scale, and regulators give their blessing to the union.
Startup Engagements Often Deliver Just PR
Initial enthusiasm can wane quickly as digital teams hit the usual innovation roadblocks — legacy technology, resistance, and competing priorities — in addition to a host of startup specific problems.
Adopt A More Rigorous Innovation Approach
Working with startups requires a tested innovation process, tailored to startups’ specific needs.
Digital teams will need to understand these and adopt dedicated procedures, commit resources, and appoint champions.
Table of Contents
- Financial Services Firms Pursue Startups
- Digital Business Strategy Executives Engage
- Startups With Five Objectives In Mind
- But Startups Engagements Often End Up As
- No More Than Marketing Hot Air
- Move Beyond The Fintech Hype To Benefit
- From Engaging Startups
- Know Who You’re Working With
- Choose A Structure That Matches Your Goals And Resources
- Build Your Startup Engagements In 10 Steps What It Means
- Courting Startups Is More Difficult Than It Seems
- Supplemental Material
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