Large enterprises are now paying closer attention to the startup ecosystem as they seek to leverage startups for innovation, panellists said at a session during the TechCircle Live 2019 event held in Bengaluru recently.
“Corporates, some of who were startups before, should look at innovation through collaboration with startups because of the challenges that corporates may face from several areas,” Ajay Motaganahalli, senior director of strategy, business operations, at NetApp Excellerator.
Motaganahalli was speaking at a panel on ‘Leveraging startup innovation for corporate strategies’. The panel also included Dinesh Goel, partner at venture capital firm Siana Capital and Venkatesh Peddi, executive director at technology investor Chiratae Ventures and was moderated by Shalil Gupta, chief business officer, Mosaic Media Ventures, the company that owns TechCircle.
Goel said that technology corporates such as Cisco and NetApp are more aware about the advantages of collaborating with startups because of the fast-paced nature of the sector.
When asked whether corporates were looking to leverage startups due to a potential existential crisis or for innovation, Peddi said that startups exist in India and other geographies because corporates are not ready for innovation.
Watch the video for an extended version of the panel discussion.