5 ways to attract the right partnerships to your startup
Transformation is what startups do best – it’s why they exist. But while it’s one thing to become a challenger in a sector, it’s another thing to drive innovation forward and win advocates to support your business. One way that SMEs can grow and continue to disrupt is by securing partnerships that will prove beneficial to both parties.The great news for ambitious leaders is that global brands and corporations are looking out for the next hot startups to partner with. Many are aware that to remain a market leader they need startups to help support their own innovation, to keep them ahead of competitors. The agile nature of vibrant start-up allows for flexibility to adjust and respond to changing trends, quickly.That’s exactly how a game-changing collaborative deal between London tech start-up Spoon Guru and retail giant Tesco came about in 2017. A partnership that redefined the way consumers with specific dietary needs or health preferences discover food, with the AI-powered search engine – hailed as the Google for food? offering complete transparency.So how do you implement such a strategy in your own company
1. Be a partner!
It can be intimidating approaching a major brand and while going down the SaaS route works for some, you should consider entering an agreement as an enterprise partner. Rather than working silently in the background, maintain your independence and get your brand out there while ensuring your ambitions don’t disrupt the partnership.
For a successful co-working agreement, find partners that benefit from your contribution and make sure the value exchange is balanced. A good partnership thrives on value exchange; you know what your business brings to the table and likewise your partner.
Markus Stripf is the CEO and co-founder of Spoon Guru - the Google for food - and is leading a charge to change the way consumers around the world discover food through the use of AI technology. The powerful search engine is used by a number of heavyweight retailers including Tesco in the UK, Jet.com in the US, and Albert Heijn in the Netherlands (to name a few).
Following his role as Managing Director at Warner Music, Markus launched his award-winning business in 2015 after watching his wife struggle to find safe foods to eat due to her allergies and intolerances. In a bid to help, Markus created the Spoon Guru app, which scans barcodes on food products and informs users if it suits their dietary requirements.