Building a robust relationship between stakeholders from the get-go is essential. Relationships require a foundation of trust and an understanding of the interests of each party – and nurturing these relationships throughout the partnership is equally critical. As leadership change takes place at different rates in academia, start-ups and large corporations, it can be challenging to re-establish trust and re-align on the goals in the face of change. It’s important to have a strategic consensus to sustain the essence of mutual goals and reinforce the relationship to maintain a solid relationship throughout their partnership.
“In particular, aligning on expectations from each stakeholder – academia, start-ups, and corporations – is a key to establishing trust and long-term success,” said Ram Jambunathan, Managing Director, SAP.iO. “Academia is often focused on pushing the boundaries forward through proof-of-concept demonstrations, while corporates may be looking for something incremental that can align to existing offerings, mature development processes or sales motions. And in between are start-ups coming from universities that are in the process of establishing product-market fit.”