The Platform 100 Open Startups registered record numbers compared to 2020, with a 40% growth in startups in the base.
On october 27 100 Open Startups, the main international platform for connecting startups, released the Ranking 100 Open Startups 2021. It recognizes the most attractive startups for the corporate market in the country.
According to award data, despite the pandemic, open innovation activity with startups has doubled in the last year. For the 2021 edition, 26,348 open innovation relationships between corporations and startups happend. While in 2020 happend only 13,433.
Open Innovation model
Henry Chesbrough proposed the term open innovation in his book Open Innovation: the New Imperative for Creating and Profiting from Technology, published in 2003. In addition to his PhD from the University of Berkeley, Chesbrough has accumulated experience managing an innovation company in Silicon Valley.
This experience helped him observe the collaborative processes that existed between the companies and external partners. In carrying out his PhD, Chesbrough intended to bring the academic world closer to the real day-to-day of business.
Chesbrough describes the open innovation model as the use of internal and external knowledge flows to accelerate innovation and expand markets for external use of innovation. Undoubtedly, this model brings benefits for everyone.
The company is able to bring new ideas and projects at a low cost and faster. Thus, the other partners who contributed to the projects gain autonomy and scale. The market as a whole is also gaining with more innovation available. For small companies and startups, this opening of large companies is an excellent opportunity for growth.
Of the more than 18,000 startups registered on the 100 Open Startups platform, 2,414 had open innovation contracts with corporations validated for Ranking 2021, against 1,310 in 2020. That is, more than 1,000 new startups had an impact on traditional chains this year alone.
Regarding open innovation contracts, the average value also increased, from R$ 140 thousand in 2020 to R$ 270 thousand in 2021, totaling R$2.2 billion in contracts between corporations and startups in the period.
Regarding the categories that made the most open innovation, that is, the ones that added the most points, Artificial Intelligence, Big Data and Productivity startups stand out.
The most common type of contracts was the Supplier Development group, with more than 7,800 contracts. This shows that corporations are renewing their supply chains, increasingly including startups in their processes.
For more information: https://100os.net/ranking
For the 3rd consecutive year, 42 Codelab is in the TOP10 Artificial Intelligence startups, reaching third place in 2021.
To learn more about the benefits of Open Innovation, check out the main advantages of implementing business strategy:
1. Cost reduction
Developing new products or projects involves human capital, time and money.
And, according to a study carried out by MIT Sloan in conjunction with Stanford University and released by the National Bureau of Economic Research in 2018, the cost of innovating has been increasing, mainly because it is increasingly difficult to have and find new ideas .
Open innovation is an alternative for cost reduction due to the simple fact that it is possible, through it, to share the innovation function with external collaborators. Furthermore, the development of new ideas is much easier, bringing knowledge of the external environment.
2. Increased acceptance
The risk of producing something that is rejected by the market is reduced with open innovation. This happens because, with the integration of new employees, who have different visions, ways of thinking and come from different organizational cultures, knowledge about a particular market is expanded.
The final product is tested by many people throughout its development. That makes it more likely to reach and be accepted when it is launched to market.
3. Fast delivery
Stratups are able to focus more on their deliveries, reducing process time. However, because they have less access to resources, they suffer from being able to carry out their projects. Large companies, on the other hand, have more resources available, but are slower in the processes. An open innovation integration helps reduce process time in large companies and facilitates access to resources for small ones, by combining these factors in product development.