According to a Bitkom survey of 603 companies with 20 or more employees, nearly one third (32 percent) of established firms have already entered into at least one partnership with startups. Eleven percent are co-developing new products, three percent have a financial stake in startups, and two percent have founded startups from within their own organization. The majority (23 percent) engage in loose forms of cooperation, such as startup competitions.
Digital Business & Future
Startups – sought-after partners for German companies
Almost one third of all companies in Germany have already collaborated with or invested in startups at least once. However, 65 percent remain hesitant. Some even see startups as competitors. That’s the result of a recent Bitkom survey.
Large companies, especially in the insurance sector, are increasingly seeking proximity to startups because they often bring not only fresh ideas and new perspectives but also the latest technologies and innovative business models.
Investment in the future
Bitkom President Dr. Ralf Wintergerst encourages embracing young companies: “There is a simple way to accelerate the digitalization of the German economy: more collaboration between startups and established businesses. SMEs in particular, which are vital to Germany, would greatly benefit from this.” He adds, “At the same time, such partnerships strengthen startups, give them better access to the market and make Germany a more attractive startup location.”
Almost all established companies are satisfied with their collaboration with startups.
46 percent say their expectations were fully met, 47 percent say they were mostly met and 5 percent say their expectations were even exceeded. Hardly any of the established firms reported being disappointed.
However, two thirds (65 percent) of German companies are still holding back. When asked about the reasons, 45 percent cited “no budget”, 44 percent “no contact with startups”, 42 percent “no specific project” and 38 percent “no time” to engage with startups.
Additionally, 28 percent of respondents view startups as competitors and 25 percent see no added value in working with them.
For Wintergerst, this is partly incomprehensible: “Most companies would benefit from engaging with startups. The time and money required for this are an investment in the future viability of their own business.”
Source cover picture: Unsplash / Cytonn Photography
