Difficulty in adapting to change
The large organisational structures of multinationals have always been the focus of criticism about their lack of flexibility and their inability to take on new business models. As the former CEO and chairman of GE said, "If the rate of change is greater outside than inside, the end is near".
But the tide is beginning to turn and corporations are becoming more aware that a new way of incorporating innovation is taking hold. A wave of corporate venture capital funds is emerging. In Spain, for example, the one led by Wayra has taken centre stage, and also in the financial sector, the initiative of the Banco Sabadell BStartup and the work of the Foundation Bankinter in the entrepreneurial world.
Profitability versus CSR
Due to the media effect that these initiatives have on Spanish corporations, many wonder whether their origin comes from the corporate social responsibility department or whether they are really economically motivated. For example, recently Simon Devonshireresponsible for Wayra Europe, explained in an interview "Our motivation is economic. Wayra Europe is already focused on providing a return on investment in start-ups. We have had very few losses, less than expected". Proof of this is that there are already 80 Wayra startups working with Telefónica as a client.
We hope that 2015 will bring us new corporations that include investment in innovative startups as a source of future growth in their strategic plans.
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