To put it bluntly, one side accuses the other of not having the right understanding of business and of not understanding how the economy really works—or could work.
From their respective perspectives, both sides have good reasons to defend their positions.
First, it’s important to understand that the established business world and startups represent two completely different work cultures that could hardly be more different. They work and communicate differently. They have different values, different knowledge, and a different language.
Unfortunately, these differences lead to a lack of mutual acceptance and appreciation.
𝗗𝗮𝗯𝗲𝗶 𝗯𝗿𝗮𝘂𝗰𝗵𝗲𝗻 𝗯𝗲𝗶𝗱𝗲 𝗪𝗲𝗹𝘁𝗲𝗻 𝗲𝗶𝗻𝗮𝗻𝗱𝗲𝗿 and would benefit greatly from each other through collaboration.
In my opinion, it is practically the duty of the “young rebels” to question everything and to think they know better. It is good and important that they try new things. Precisely because they are not part of the established business world, they have a different perspective on things. That’s how innovative solutions emerge.
Startups generally have a very deep understanding of engineering and technology—but not of the market and marketing. They often lack access to these areas. That, in turn, is an advantage that the established business world can capitalize on. A collaboration would therefore allow both sides to benefit.
Based on this insight, a fantastic project—𝗛𝗮𝗺𝗯𝘂𝗿𝗴𝗲 𝗜𝗻𝘃𝗲𝘀𝘁—has been launched in Hamburg under the umbrella of the Economic Affairs Authority. I spoke with Dr. Marius Diegel about his department’s activities. He heads the Start-up Unit. As a “matchmaker,” he and his team act as bridge-builders between the established business community and startups.
The goal is to spark companies’ interest in startups and their innovation potential, while also connecting startups with the business community. The appealing aspect of the concept is “venture clienting.” Companies don’t become venture capitalists but rather the first customers of these young companies. In this way, they gain access to innovative capabilities and digital expertise, while the startups generate regular revenue, allowing them to gradually build their businesses and gain market access. This benefits both sides and reduces risk for both. I really liked the Economic Development Agency’s concept because it offers great potential for collaboration. Learning from each other, growing together. Hamburg has a lot to offer startups.
Details: https://lnkd.in/erARcju2, Image: Lill Thelin
