LOIC was created as an answer to the needs of both startups and corporations. Yes, these two worlds that speak very different languages, and desperately need each other. We create a common language between these two, that would enable them to start working together.
Startups need clients to accelerate validation, product development, market penetration, and growth.
Corporations need startups to multiply, and accelerate their bets on innovation to be able to respond to the demands of a new digital economy.
Because we know it’s hard. It takes a lot of time to open doors of big companies that already have a captivated market, to explore collaboration.
It’s hard, but it is not impossible. We evangelize, clear the path for open innovation, look for and create opportunities to make collaboration between startups and big groups a reality.
You commit to speak the truth, and finish the application process.
If you are selected, you will enter negotiations on collaboration terms with the corporate. You are not forced by any means to accept a collaboration you are not excited about.
LOIC is an initiative that operates under the umbrella of a nonprofit, and it is financed by our corporate members.
Once you are selected, you will enter negotiations with the big group. It is you and the corporate that will design the framework of collaboration.
We serve as enablers of collaboration. We guide you from the start of your application, and until you meet the corporate. After that, we don’t take part in the negotiations, and do not benefit financially from the outcome of the collaboration between you and the corporate.
However, we will always be here to receive your feedback, to keep building best practices around open innovation.