We provide influential corporations in the U.S. and Europe with insight on the most exciting startups in the tech sector.
- The platform benefits startups who can find distribution partners, implement pilots or sign strategic partnerships with top brands.
- Corporations can leverage their position in the marketing by getting access to talented entrepreneurs, innovative ideas, and brand new products.
We have strategic deal flow partnerships with top VC's, incubators and accelerators from all over Europe enabling us to have one of the biggest deal flow of technology companies.
A landing platform's mission is to provide founders with an opportunity to connect with industry experts and establish meaningful relations with them long after the program is complete.
By including our partners from the very beginning of the process not only are we providing value to startups but we are also able to ensure our partners are making the right technology choices.
WHY OPEN INNOVATION
Spark Labs' Open Innovation Program enables U.S. Companies to tap into cutting edge technologies developed by American & European start-ups, augmenting their internal innovation capabilities at an extremely reasonable cost. Extensive research shows that there is a great need for this offer:
Approximately 50% of Fortune 500 companies are dissatisfied with their internal innovation results in terms of “idea generation” or “turning a high potential idea into successful product/service” (source: Booz & Co.). U.S. corporations are generally dissatisfied with their R&D spend ROI. Open Innovation tackles this issue head on.
On the other hand, while the E.U. leads the world in key technologies (e.g., mobile, clean tech, analytic tools), the amount of funding available in the E.U. for early-stage investing is only 10% the amount of funding available in the U.S. Hence, European start-ups are eager to relocate to the U.S. not only to obtain the necessary funding but also to penetrate the large and lucrative U.S. market.
Spark Labs Open Innovation Program addresses both challenges above by matching the innovation needs of U.S. companies with European start-ups that provide the exact technology required. The process is straightforward:
- A U.S. Corporation looking for a given technology approaches Spark Labs with its requirements. Spark Labs combs through its extensive deal flow of over 1,000 European start-ups (through partnerships with leading incubators in France, UK and Germany) and develops a short-list of the best-fit start-up candidates to be presented to the US Corporate Partner.
- The US Corporate Partner reviews the short-list and selects the European start-up that best fits its technology innovation needs.
- The US Corporate Partner then sponsors its chosen start-up. The upside potential for the sponsor might be worth tens of millions of dollars or more. Spark Labs charges DOES NOT charge start-ups a fee and it DOES NOT take equity either.
- Spark Labs manages the relocation of the start-up to the US, end-to-end. This includes obtaining legal immigration status and hosting it in its NYC facilities for one year.
- During the year long incubation program, Spark Labs also provides in-depth mentoring and marketing/operations support to enhance the chances of success of the European start-ups. At the same time, the US Corporate sponsor becomes tightly integrated with the sponsored start-up, cooperating in pilots, discussing potential licensing agreements or even outright purchase.