Partner Selection Best Practices: Insights from Innovation Clusters

Decades into this era of open innovation, companies have tested a wide range of structures and strategies to maximize returns and results in selecting, forming, and growing effective partnerships — with widely varying results. Over the course of the COVID-19 pandemic, the world of open innovation has shifted to increasingly distributed, digital, and remote, and this trend is only going to accelerate as large companies, startups, and the nature of work adapt and reorganize in the aftermath. Moving forward, companies will face increasing pressure for speed, efficiency, and discernment in identifying and evaluating partners and investment targets. This talk draws on the experience of incubators, accelerators, and other innovation clusters to highlight best practices for selecting startup partners that will drive growth as well as pitfalls to avoid.