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Madrid, December 10th 2019 - For the fourth year running, startups across Europe have nominated the most active corporates in terms of open innovation as part of the Corporate Startup Stars Awards.
Madrid, December 10th 2019 – For the fourth year running, startups across Europe have nominated the most active corporates in terms of open innovation as part of the Corporate Startup Stars Awards. Enel has secured the top position, followed by SAP and Telefónica, according to the new ranking unveiled today during the SEP Scaleup Summit organized by Mind the Bridge at the Bolsa de Madrid.
Europe’s Corporate Startup Stars annual ranking is produced by the innovation advisory firm Mind the Bridge and innovation foundation Nesta under the European Commission’s Startup Europe Partnership initiative. 36 European companies have been awarded in total: 12 as Europe’s Corporate Startup Stars and 24 as Europe’s Open Innovation Challengers.
Along with Enel, SAP and Telefónica, companies awarded as among the Top 12 SEP Europe’s Corporate Startup Stars in 2019 are AB InBev, BBVA, Bosch, Daimler, Iberdrola, Mastercard, Samsung Electronics, Shell, and Sodexo.
The 24 companies awarded as “Open Innovation Challengers” are ACCIONA, Amadeus, Banco Sabadell, Barclays Bank, BP, Bridgestone, Centrica, Cisco, EDP, Enagás, Eneco, Ferrovial, FIEGE Logistics, Google for Startups, Hewlett Packard Enterprise, KBC, KPN, Nestlé, Orange, Pearson, Pfizer, Rabobank, Thomson Reuters, and Vodafone.
16 other companies also received special awards for various different categories. These special awards don’t provide a ranking but aim at signalling approaches and best practices that deserve to be recognised.
Enel, Iberdrola, and Vodafone received the “Corporate Startup Procurement Award” for 2019, while the “Corporate Startup M&A Award” went to KPN, SAP, and Sodexo.
Daimler, Orange, Telefónica have been recognised with the “Corporate Startup Accelerator Award”; Bosch, Cisco, and Samsung Electronics with the “Corporate Startup Investment Award”;
ACCIONA (novel approach mixing Acceleration and Procurement), Enagás (intrapreneurship approach), and UnipolSai (diversifying into mobility through POCs with startup and acquisitions ) with the “Innovative Programme Award”; BP with the “Best New Entrant Award” (reserved to the best first-time applicant).
The organizers also gave a special mention to Transport for London (TfL) for Public Sector Innovation, to recognise the efforts of public entities moving into the open innovation space. This will be institutionalized as an official Award category starting next year.
Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth commented:
“A sustainable ecosystem of innovation in Europe requires both startups able to grow dimensionally and internationally and established corporates capable to innovate. Then corporate-startup collaboration might benefit both sides. That’s why initiative such as SEP Europe’s Corporate Startup Stars are important to showcase best practices and role models.”
Alberto Onetti, Chairman of Mind the Bridge and Coordinator of Startup Europe Partnership (SEP), said:
Christopher Haley, Head of New Technology & Startup Research at Nesta, said:
During the award ceremony, Mind the Bridge and Nesta have unveiled new research titled “The Status of Open Innovation in Europe”. This report leverages the data gathered by all the companies applying to the Corporate Startup Stars and provides an in-depth analysis of how innovation leaders are evolving the way to work with startups. Specifically, the research profiles the approaches to open innovation by assessing both “internal” conditions (strategy, organization, processes, culture) and “external” outcomes (actions and results).
4 “types” of approaches/profiles clearly emerge (as summarized by the MTB Open Innovation Readiness Matrix):
By observing their evolution, the research identified some trends in the paths that companies typically follow over time to develop and implement their open innovation strategies and actions. Typically, well-performing companies start as Open Innovation Newcomers (bottom-left quadrant), then become Open Innovation Challengers (upper-left quadrant), before they transition to a Corporate Startup Star (upper-right quadrant). This indicates that having strong internal innovation strategies and processes may be a necessary precondition for designing and executing effective external open innovation actions over time.
Corporate Startup Stars tend to offer a mix of programmes, creating significant value for startups and their wider ecosystems — in Europe and globally:
Top 12 SEP Europe’s Corporate Startup stars
24 Open Innovation Challengers
Corporate Startup Procurement Award
Corporate Startup M&A Award
Corporate Startup Accelerator Award
Corporate Startup Investment Award
Innovative Programme Award
Best New Entrant Award
Corporate Startup Stars Methodology
Annually European startups are asked through a public call to nominate the corporates that are more active and friendly in working with startups. Nominated corporates are then invited to apply for the SEP Europe’s Corporate Startup Stars Awards by providing detailed information and references regarding their open innovation organisation, activities (such as one-off events, accelerators, procurement programmes, investment, acquisition, internal innovation) and results achieved. Corporates identified through secondary research were also invited. The ranking includes only the companies that applied to the SEP Europe’s Corporate Startup Stars Awards by providing all the required information. Companies that did not apply or submitted insufficient information are not considered.
About Mind the Bridge
Mind the Bridge is a global organization that provides innovation advisory services for corporates and startups. With HQs in San Francisco (CA) and offices in London, Milan, Cagliari, Barcelona, Brussels and Berlin, Mind the Bridge has been working as an international bridge at the intersection between Startups and Corporates since 2007.
Mind the Bridge scouts, filters and works with 5,000+ startups a year supporting global corporations in their innovation quest by driving open innovation initiatives that translate into curated deals with startups (namely PoCs, licensing, investments, and/or acquisitions).
Mind the Bridge publishes curated reports on the status of the scaleup ecosystems in different geographies, as well as M&As, IPOs, and innovation market trends in various verticals. Mind the Bridge has strong partnerships with entities such as the London Stock Exchange and the European Commission, for whom it runs the Startup Europe Partnership (SEP) open innovation platform.
Mind the Bridge is the organizer of the Startup Europe Comes to Silicon Valley (SEC2SV) and Startup Europe Comes to Israel (SEC2IL) missions and the European Innovation Day conference.
About Startup Europe Partnership (SEP)
Established by the European Commission in January 2014 at the World Economic Forum in Davos, SEP is the first pan-European open innovation platform dedicated to transforming European startups into scaleups by linking them with global corporations and stock exchanges.
By participating in the SEP program, global companies have access to the best technologies and companies with the goal of initiating business partnerships and venture corporate investments.
caleups are exposed to qualified sales/strategic opportunities as well as funding options either via venture capital, private placements or IPOs.
SEP is led by Mind the Bridge, a global organization based in Europe and Silicon Valley.
SEP is a Startup Europe initiative. Partners include leading corporates and the European Investment Fund/European Investment Bank Group, London Stock Exchange Group, Nesta, EBAN, European Startup Network, The ScaleUp Institute.
Nesta is an innovation foundation. For us, innovation means turning bold ideas into reality and changing lives for the better. We use our expertise, skills and funding in areas where there are big challenges facing society. We’ve spent over 20 years working out the best ways to make change happen through research and experimenting, and we’ve applied that to our work in innovation policy, health, education, government innovation and the creative economy and arts. Nesta is based in the UK and supported by a financial endowment. We work with partners around the globe to bring bold ideas to life to change the world for good.
For more info: www.nesta.org.uk
Nesta is a registered charity in England and Wales 1144091 and Scotland SC042833.
Mind the Bridge, Startup Europe Partnership
Serena Orizi – PR and Communication
Nesta press office
Juliet Grant – Media Manager
020 7438 2668 / 07866 949047