Passion Incubator in collaboration with the Swedish Embassy has launched Collaborate. Collaborate is a platform that connects corporate organizations experiencing challenges with Startups equipped with solutions along those lines of challenges.
According to Disrupt Africa, the first phase of the Collaborate project is designed to engage and advise Swedish corporates on their future strategies and how they can partner with startups to be more efficient in their operations and solve their biggest problems using technology.
The platform aims to offer solutions to corporates through startups who are building disruptive technologies and help startups gain exposure and win new deals.
How it works
- Collaborate identifies corporates who have challenges to solve and design their problem statement.
- The Platform searches for startups who can solve these challenges.
- Then it vets and runs due diligence on the startup, ensuring they meet the criteria.
- Collaborate sets up meetings between them and the decision maker(s).
- Deals are signed.
According to Olufunbi Falayi, a partner at Passion Incubator, “Corporate organisations face challenges that yearn for solutions and they typically solve these problems by engaging internal resources without necessarily solving these problems efficiently. On the other hand, startups develop real-time solutions that should naturally be targeted at corporates but do not have access to pitch to them.
“Collaborate connects both parties effectively. Additionally, corporates and startups have different cultures; the former has resources but takes a longer time in decision making while the latter is agile and efficient, however, unstructured. Collaborate helps align both cultures for easy integration and collaboration. The goal is to make Collaborate the defacto platform for corporate and startup collaboration in Africa,” she added.
