They know and respect each other: Medium-sized companies don't seem to have any major reservations about startups. At least, that's what one study suggests.
The opportunities for cooperation between old and new economy are on everyone's lips. The RKW Competence Center examined how frequently joint projects actually occur between medium-sized companies and startups and surveyed 200 small and medium-sized enterprises about their collaboration with startups. The participants come from the mechanical and automotive engineering, information and communication (ICT), and chemical and pharmaceutical sectors.
The results show that startups are already on the radar of SMEs. More than half (57) of the respondents know startups from their business environment, and 37 have already collaborated with young companies. At least from the SMEs' perspective, the collaboration was extremely successful: In more than 60 of the cases, the goals were achieved without any significant deviations, and an impressive 95% of SMEs with collaboration experience would collaborate with a startup again in the future. RKW expert Dr. Matthias Wallisch:
"Once collaboration occurs, it is often very successful. Therefore, it's worthwhile to promote networks between medium-sized companies and startups: for example, with suitable events and event formats that benefit both sides."
There are differences in openness towards startups between sectors: every second ICT company, but not even every third company in the mechanical and automotive engineering, chemicals and pharmaceuticals sectors works with startups.
Do medium-sized companies underestimate digitalization?
Around one in four respondents is skeptical of young founders under the age of 25. At the same time, however, 80 percent do not consider a lack of professional experience a reason to exclude collaboration. Dr. Wallisch emphasizes the importance of direct contact:
“A prior personal relationship with the startup founder is an essential prerequisite for cooperation for more than half of the SMEs — according to the results.”
Another finding suggests that SMEs may be underestimating the impact of digitalization: Only 22% see the need to adapt or rethink their business model due to digital transformation. Nine out of ten do not see digitalization as an existential threat to their company's continued existence.
