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A Fortune 500 company incubated 50+ start-ups for product innovation

A Fortune 500 company incubated 50+ start-ups for product innovation

Client’s challenge

The client, a global Fortune 500 Data Management company headquartered in the USA, had a majority of the client’s global R and D workforce present in India and focused on product innovation.

The challenge was to identify global start-ups that could derive tangible outcomes for the client; devise and execute project plan for cohorts throughout the year. Along with this the aim was to identify and execute relevant industry alliances.

Zinnov’s Approach

Zinnov has put together a 4-step framework to identify and select the start-ups, followed by an engagement phase.

The 4-step approach started from scanning, curating, and sharing relevant start-ups with the client. 1500+ start-ups were identified in this phase. In the next step of curation, the client reviewed and shortlisted 400+ start-ups, out of which 200+ start-ups were put in touch with the client.

The last step in the identification process was to de-risk – which involved collecting feedback from the client and assisting them in the final qualification process.

The engagement phase was where the client team works with Zinnov to work on the next steps.

Impact created

Since the inception of the program in 2017, 58 start-ups graduated from the program. All these start-ups ranged from early stage to mid-stage in terms of size. 13 POCs have been completed with the start-ups in the program and 6 start-ups have been acquired. Post the graduation from this program, close to US 100 Mn+ follow-on funding has been raised by the start-ups. This partnership has also seen the rise of women-found start-ups and 8 such start-ups were funded by this program.