How to apply entrepreneurial tools to corporations, easily!

Abstract

Corporations can benefit from leveraging commonly used emerging entrepreneurial tools such as hackathons and accelerators to achieve their innovation goals, but the answer of how to do so is not as simple as they wish. Many large corporations are eager to partner with entrepreneurs or startups and want to learn how startups are able to solve similar business challenges. This paper will provide a few case studies and lessons learned from different corporations' experiences with these tools and how they have partnered with startups. These valuable insights can help companies of all sizes learn and practice innovation differently. This paper will identify the key issues that corporations face when trying to leverage these emerging entrepreneurial tools, explore examples of how companies are leveraging these tools, and an overview of steps that corporations should consider before trying these tools. This paper will outline the important steps and considerations that companies should address prior to engaging with startups, entrepreneurs, and emerging entrepreneurial tools like hackathons and accelerators.