“If you’re not innovating, you’re de-innovating!”
Startups have this cracked. They are inherently innovative or quickly drop out of the game, but regardless of their funding status, startups are notoriously short on budgets, know-how and processes to get their innovation off the ground.
Most enterprises are too heavy and cumbersome to keep up with market trends, let alone innovate. The equation is seemingly simple: enterprises are inherently complicated and riddled with problems which need solutions, while startups develop solutions to solve those very issues. But this equation is complicated by restrictions on time, money, logistics, security and effective communication. For large corporations, internal bureaucracy adds an extra hurdle, and for industries such as banking or healthcare that rely on sensitive user data, legal regulations and informational security protocols can limit the possibility of trial runs with potential partners.