Small startups and big corporations are both capable of innovation, but they don’t often play in the same park.
BCTIA wants to change that in BC by creating a new hub to “architect an innovation culture.”
“Disruption has created a new class of corporate giants,” writes Bill Tam, CEO of BCTIA. “Disruption has also accelerated the demise of many companies.”
Citing similar successful endeavours like MaRS and Communitech and successful startups-turned-titans like Hootsuite and Slack, Tam says the key to supporting corporate innovation “lies in creating a suitable environment.”
“Combining [startups and corporations] in the same environment can lead to all sorts of new opportunities,” he explains. “For startups, it creates an opportunity to connect with corporations as potential customers or channel partners. For corporations, it provides an immersive environment where they learn the startup techniques that drive faster development cycles and gain a glimpse into potential partnerships that can improve their dexterity.”