Harnessing the Power of Entrepreneurs to Open Innovation
Oxford Economics worked with Accenture to survey 1,000 large companies and 1,000 entrepreneurs across the G20 countries in mid-2015. The data formed the basis for Accenture’s report to the annual G20 Young Entrepreneurs’ Alliance summit held in Turkey in September 2015.
We surveyed 1,000 C-level executives and their direct reports in 11 industries at large companies (mainly with revenues above $1 billion) and 1,000 business owners at small companies (revenues below $250 million) across the same range of industries. The research was aimed at exploring their views and attitudes toward collaboration and innovation.
Our research found that although nearly three-fourths of large companies (71%) reported successful collaboration with entrepreneurs, little more than half of entrepreneurs (57%) agreed. This is a gap that must be closed. Obstacles to effective collaboration were also identified: entrepreneurs often question their partners’ commitment to supporting the growth of their businesses; at the same time, large enterprises often lack confidence in a startup’s ability to move from idea to marketability in the context of a broader business strategy. The rewards of getting collaboration right are considerable, especially in broader, more open ecosystems. We found a statistically significant correlation between collaboration, innovation, and growth—among both large companies and startups—in all the G20 countries that we analyzed.
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