The power of connecting blockchain startups with enterprise
Blockchain technology is in its infancy. The opportunity for growth is fierce and tech leaders are recognizing this with the launch of programs like Columbia | IBM Blockchain Accelerator that encourage partnerships between corporations and blockchain startups.
In the right conditions, blockchain technology can grow exponentially (and fast), resulting in big wins for everyone. When corporates and startups collaborate it can jumpstart scaling in many ways, but these four top our charts.
It takes a village
In order to succeed, blockchain projects need a supportive network of businesses working together for the same goal. In the case of startup plus corporates partnerships, each party brings a unique ecosystem with the benefit of no competitive history. When everyone collaborates on neutral territory from the get-got, the investment tends to be stronger and there’s less chance of needing changeover down the road.
There’s no mountain too high
Startups are known for being fiercely dedicated to the cause. Their current innovation is often their only innovation, unlike their corporate partners who are often juggling many initiatives at the same time. The success of the startup usually depends on the success of the project, so they’re motivated to blast-through roadblocks and do whatever it takes to see a win.
Startups and enterprises work at different paces, which is a good thing. While the enterprise is moving slowly through policies and approvals, the startup team is usually powering through the technical side and quickly responding to curveballs. This balance keeps the project agile and moving while also making sure compliance is in check. It also challenges each party to perform in new ways, keeping momentum and motivation high.
There’s a lot of competition in the blockchain market and despite working toward the same goal, someone has to reach it first. As the process builds, the drive for adoption increases. In corporate plus startup partnerships each party has their own set of resources, which essentially doubles their power in the race to cross the finish line.
The blockchain is an ingenious invention that is rapidly evolving in capability and greatness. The tech community is continually finding potential uses for the technology and it will be exciting to see these unfold.
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