How Innovation as a Service is Important for Start-ups and Corporates

Source | Entrepreneur : By Sanil Sachar

Have you ever walked into a party and found that you’re the only one there because you’re early?

Standing on your own, a series of thoughts make you contemplate your decision. At first, you question whether you’re at the correct party. Then, you wonder if the party is worth attending, making you consider whether to leave or stay.

Soon, you see the host of the party, who doesn’t find it strange that you’re there early. Over time, you see other guests enter and now, being the first one turned out to be a good decision.

Now, let’s put this in the context for you, the entrepreneur with an innovation.

Party = your innovation

Host = corporate

Guests = competing start-ups

The above scenario instantly relates to why being early at a party = the importance of Innovation as a Service (for the start-up and the corporate).

Several start-ups fail to succeed because they have an innovation that is ‘beyond its time’, which could simply mean, they have no customers in sight. Corporates fail to succeed in staying ahead of the curve because the practice to create the new comes at a cost of both time and capital.

The two scenarios are pieces of the same puzzle and when put together, come in the form of collaboration, i.e., Innovation as a Service (IaaS).

What Makes IaaS Such a Key Tool for Both Parties Involved?

Simply because everyone wants to experiment. Everyone is also apprehensive. A corporate is, as it might dilute their current value and a start-up is because while they are in the process of creating a value, they might not know the takers for it.

Although corporates have their own innovation labs, the abundance of solution providers is growing way beyond just the Bay area. For a corporate to think outside the box, IaaS requires them to look outside the box too. That’s where the start-ups are.

Once the solution is with the corporates, all they need to do is process and develop, making IaaS a perfect assembly line for success.

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