How to Create a Strategic Partnership to Spur Innovation

The Business to Community website noted that just as people are motivated by the company they keep, companies are influenced by the partnerships they embrace. Those hoping to innovate would be wise to look beyond their own walls and form partnerships with universities, startups, and other industry players. Working side by side with smart, innovation-minded individuals gives companies a new perspective on old problems, which helps them adapt to technological advancements and evolve with customer preferences. If you’re looking to recruit potential partners, consider hosting an open innovation program where people come together to discuss a specific topic. By listening to industry players at these events, you’ll see pain points emerge — those are problems you could potentially solve through a partnership.

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