A Practical Checklist for Partnership Success From Day Zero

Abstract

This chapter considers a variety of conditions and needs for startup-corporate partnerships to be successful from strategy to discovery to implementation. Based on personal experience in leading enterprise business development for a VC backed company and managing a Silicon Valley accelerator as well as an in-depth look at a Silicon Valley startup founder’s experience, this contribution examines practical lessons learned throughout the startup scouting process. Topics include: Understanding your startup strategy; defining strategic fit and startup criteria; aligning with business units and leadership early and often; early conversations with startups; leading with honest and open information; setting realistic expectations; defining success and future terms before a POC or trial; co-developing an implementation agreement; POCs versus trials; avoiding shortcuts that create double processes, giving constant feedback; tracking the right metrics; and being willing to pivot.