Innovate Together: Unleashing the Power of Partnerships for Change
By Upma Arora
In today's fast-paced world, staying ahead isn't just about innovating on our own—it's about teaming up with others. Through AD Stretch, our startup accelerator, we're bridging gaps across the value chain, co-creating sustainable solutions by combining expertise to make a real impact for the future.
Unlocking innovation: collaborate to relearn and transform
Do we know it all? Hardly. Technology is transforming industries at lightning speed. As a 90-year-old innovation leader, we have world-class researchers and facilities, but we're not always tuned into what's happening beyond our walls. The real challenge is anticipating how today's innovations will shape tomorrow's reality. The sooner we embrace collaboration, the faster we'll succeed—not just for our business, but for the planet.
Can corporations solve all challenges themselves? What if the answer lies outside organizations? New solutions come from integrating outside innovation through partnerships with clients, customers, and the startup ecosystem.
AD Stretch is our open innovation engine, pushing us to step out of our comfort zone, experiment, fail, learn, and ultimately, collaborate. As Anil Sharma, Material Group VP and GM for APAC, told our Cohort 1 startups: "Challenge us at every stage to help us relearn."
Take Mr Fresh, one of our Cohort 1 startups. We knew about shelf-life extension, but partnering with this university-based startup in China helped us dive deeper into real-time microbial growth control. Through the AD Stretch pilot, we tested the solution with Chinese customers in just six months. Now we’re incorporating Mr Fresh Paper rolls, which extend the life of berries and seasonal fruits, into our product line. Is this perfect? Maybe not, but it sparked excitement among our teams, pushed us to market the product, and opened doors to invaluable new partnerships. That's the real win.
Innovation takes time and leadership support
Another key factor is unwavering leadership support. It’s not just about revenue, but building a culture of learning and experimentation. Leaders must believe in this process and foster an environment where failure is seen as part of the innovation journey. I vividly remember Danny Allouche, Senior VP, Chief Strategy & Corporate Development Officer, telling me early on, “Success isn’t about immediate revenue. Tell me how many people we get involved in AD Stretch, how we’re transforming our internal systems to collaborate with startups. Revenue will follow if we get this right.” That mindset drives true change.
It's about listening. Real progress happens when we genuinely engage. It's not just about the technology; communication is key. From the start, we committed to being open and showing our vulnerabilities. Take Cellr, an Australian startup we brought to LATAM, to collaborate with five major brands. Initially, we struggled to get buy-in until we listened to founder Chris Brain's feedback: we needed to sell the vision of rapid brand engagement, not focus on the technical details. What if that single piece of feedback changed our entire approach and unlocked new growth? This feedback-driven approach shows how we’re always learning and evolving.
Embrace the challenge: innovate together for transformative solutions
It’s not just about running startup pilots for the sake of it. Success is built on creating a culture of experimentation and forging meaningful partnerships to tackle real business challenges. True progress comes from collaboration, not just checking boxes or chasing quick wins.
Innovation is a complex process, especially in large organizations. We must balance calculated risks with established processes, forging new pathways for innovation. While corporations strive to match startup agility, navigating the intricacies of a Fortune 500 company requires a keen eye on the bottom line. Through AD Stretch and other open innovation initiatives, we're learning to align core business priorities with long-term innovation goals.
For startups, partnering with big corporations can be risky. But what if the potential rewards far outweigh the risks? The road is often lined with unexpected financial and regulatory hurdles, but the rewards? They're immense. True transformation happens when both sides co-create, fueled by resilience, ambition, and a shared vision for disruptive ideas.
What if the next big breakthrough is just one collaboration away? Are you ready to embrace the challenge and start #MakingPossible?
