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The transatlantic accelerator for tech startups.

Open Innovation

OPEN INNOVATION FOR U.S. CORPORATIONS

NYC Accelerator enables Open Innovation for U.S. Corporations

Spark Labs' Open Innovation Program enables U.S. Companies to tap into cutting edge technologies developed by European Union (EU) start-ups, augmenting their internal innovation capabilities at an extremely reasonable cost. Extensive research shows that there is a great need for this offer:

  • Approximately 50% of Fortune 500 companies are dissatisfied with their internal innovation results in terms of “idea generation” or “turning a high potential idea into successful product/service” (source: Booz & Co.). U.S. corporations are generally dissatisfied with their R&D spend ROI. Open Innovation tackles this issue head on.

  • On the other hand, while the EU leads the world in key technologies (e.g., mobile, clean tech, analytical tools), EU early-stage start-ups receive only 10% the amount of funding as compared to their U.S. counterparts. E.U. start-ups are eager to relocate to the U.S. not only to obtain the necessary funding but also to penetrate the large and lucrative U.S. market.

Spark Labs Open Innovation Program addresses both challenges above. Spark Labs matches the technology innovation needs of U.S. companies with EU start-ups that provide the exact technology required. The process is straightforward:

  • A U.S. Corporation looking for a given technology approaches Spark Labs with its requirements.

  • Spark Labs combs through its extensive deal flow of over 1,000 EU start-ups (through partnerships with leading incubators in France, UK and Germany) and develops a short-list of best-fit start-up candidates, to be presented to the US Corporate Partner.

  • The US Corporate Partner reviews the short-list and selects the EU start-up that best fits its technology innovation needs.

  • The US Corporate Partner then sponsors its chosen EU start-up. To put in in perspective, sponsoring one EU start-up is equivalent to the cost of “one engineer” while the upside potential might be worth tens of millions of dollars or more to the sponsor. Spark Labs charges EU start-ups a “minimal amount or zero” depending on the situation and no equity is taken.

  • Spark Labs manages the relocation of the EU start-up to the US, end-to-end. This includes obtaining legal immigration status and hosting it in its NYC facilities, for one year.

  • During the year long incubation program, Spark Labs also provides in-depth mentoring and marketing/operations support, to enhance the chances of success of the EU start-up. At the same time, the US Corporate sponsor becomes tightly integrated with the sponsored start-up, cooperating in pilots, discussing potential licensing agreements or even outright purchase.

  • It is worth noting that while it is possible for a US Corporate Partner to sponsor a US start-up (we can also help on that front), their valuations tend to be much higher (US start-ups are not suffering from a funding crunch like their EU counterparts).

Companies aiming to access cutting edge technologies through Open Innovation are encouraged to get in touch with us.

For more information, please contact us by submitting the form below:

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