Why are we doing this?
Startups are an important means by which new ideas are brought to life – especially those ideas which challenge established industries or do not find ready support inside existing companies. They are core to the process of creative destruction and crucial for increasing employment. They exert competitive pressure on prevailing businesses, which drives improvements in productivity and prosperity. In short, the starting – and scaling – of new ventures is vital for innovation and economic growth. Unfortunately, many good startups fail to thrive, whilst many larger companies are desperately searching for new ways to innovate. This initiative aims to help by connecting startups with larger corporates in mutually beneficial ways.
What are we doing?
Nesta is part of the SEP Secretariat. SEP provides a cross-industry, pan-European, open innovation platform. It hosts a number of matching events where corporates interested in open innovation or acquisition are brought together with qualified startups. In addition, Nesta is undertaking research which aims to help make SEP more effective - such as better understanding the barriers and motivations for corporates and startups to work together.
SEP was announced by the European Commission in January 2014 at the World Economic Forum in Davos. It is led by Mind the Bridge Foundation, a non-profit foundation based in Italy and United States, with the support of Nesta, The Factory campus for startups and mature tech companies in Berlin, and Bisite Accelerator (Madrid/Salamanca).
To find out more visit Startupeuropepartnership.eu