Why Corporations and Startups are Working Together

A Chicago Tribune article speaks on the value entrepreneurs can bring to larger corporations.

“Look no further than Think Big Partners. In 2013, Think Big Partners and H&R Block partnered up on an event entitled “Hackovate Health.” This health-focused innovation competition was designed to identify innovative mobile, online, social and other applications that help consumers navigate the new healthcare landscape. Teams large and small competed in a three month long competition, where ten finalists presented promising ideas, some of which turned into new joint ventures.

The Hackovate Health process involved coaching and mentoring from business, policy and investor leaders in the entrepreneurship and healthcare arenas. H&R Block fully embraced a role of working on open innovation and learning from entrepreneurs. Partly, this is because corporations with many shareholders don’t want to fail. “We believe we can offer corporations other ways to innovate and give them the ability to explore and work with bright individuals not within their four walls,” says Managing Partner of Think Big Partners Herb Sih.”

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