Schneider Electric, the leader in the digital transformation of energy management and automation, has been recognised among the top 25 Corporate Startup Stars in 2021.
Collaboration between corporates and startups, if done right, can bring tremendous benefit to both. Startups can access invaluable resources and market insight which can help them scale, whilst for established companies, such collaborations offer an important mode of innovation – as well as subtler benefits like cultural change.
Corporate Startup Stars is an annual celebration of Collaboration between corporates and startups, if done right, can bring tremendous benefit to both. Startups can access invaluable resources and market insight which can help them scale, whilst for established companies, such collaborations offer an important mode of innovation – as well as subtler benefits like cultural change.
However, it is hard to get it right and modes of collaboration are in continuous evolution. We believe that the organisations doing this well should be recognised as trailblazers.
For the sixth year running, startups have nominated the corporates they believed to be most active in terms of open innovation for the prestigious annual Corporate Startup Stars Awards. Launched by Mind the Bridge under the European Commission’s Startup Europe Partnership initiative in 2016, the Awards have been scaled at global level thanks to a partnership with the International Chamber of Commerce (ICC).
“When adopting an open innovation model, companies don’t look to generate pioneering ideas alone but rather to utilise or build on existing internal and external ideas that enable them to be more effective at managing cost and risk and to accelerate technology development,” said Devan Pillay Cluster President, Anglophone Africa for Schneider Electric. “This way, innovation can be thought of as a continuum. Consequently, a key feature of the open innovation model is its flexibility and by way of the Awards we are shining a merited light on those companies that are leading the way for others and enabling more businesses to secure peace, prosperity and opportunity for all”.
As we move to a sustainable, electrified future, Schneider Electric, recognised as the world’s most sustainable corporation in 2021 by Corporate Knights Global 100 Index, is leveraging its deep history of technology leadership to develop innovative solutions to increase efficiency and lower emissions.
The company’s Innovation at the Edge programme invests in new ideas, emerging technologies and business models that both challenge and complement the Schneider Electric of today. “From partnerships, seeding and accelerating startups, incubations, and joint ventures with established firms, we are covering the globe and working with entrepreneurs to turn bold ideas into reality”, Pillay said.