In today’s fast-paced business world, innovation and collaboration are key to staying ahead of the competition. One strategy gaining traction is the venture client model, where corporations engage with growth companies as clients rather than investors. This approach allows corporations to purchase early-stage solutions, gaining strategic advantages while growth companies maintain their independence and generate early revenue.
Why the Venture Client Model
The venture client model offers numerous benefits for both corporations and growth companies:
- For Corporations:
- Access to cutting-edge technologies.
- Customized solutions tailored to specific needs.
- Accelerated innovation fostering a culture of creativity and forward-thinking.
- For Growth Companies:
- Independence and full ownership.
- Early income through sales to corporations, providing financial stability and growth opportunities.
- Practical validation from real-world applications.
- Valuable industry knowledge and expert insights from corporations.
At Wärtsilä, we add value by assisting smaller companies in developing technologies through our extensive supplier network, global sales presence, and technical expertise. Through the WISE program, we can now accelerate these activities.
Wärtsilä’s Next Business Lab offers a structured approach to fostering mutually beneficial partnerships with growth companies. For example, by exchanging knowledge on industry dynamics, manufacturing and purchasing processes, and the global energy industry, we can create compelling business cases together.
At Wärtsila’s Sustainable Technology Hub in Vaasa, we offer space for proof-of-concept verification, minimum viable product testing, and additive manufacturing. Additionally, we can offer opportunities to join us at events or participate in publications to build thought leadership on shared topics of interest.
Conclusion
To sum up, the venture client model is a highly effective strategy for driving innovation and growth. By adopting this approach, corporations and growth companies can form mutually beneficial partnerships that propel progress and achieve success in today’s competitive business environment.
– Eleonor Hedström, Director Wärtsilä´s Next Business Lab & WISE Ecosystem Lead