Innovation mashup: Big firms, startups collaborate at ResolveTO Conference

ResolveTO offered both entrepreneurs and “corporates” the chance to network, pitch ideas and learn from each other about what it takes to successfully innovate.

Companies of all sizes are feeling pressure to embrace innovation as their industries change at lightning-fast speed. But executives must find ways to bridge the gap between simply talking about it and implementing successful innovation practices.

“There are great expectations in the market for innovation, it’s a big buzzword,” said Nyla Ahmad, Senior Vice-President, Enterprising Marketing at Rogers. “But it won’t just happen because everybody is talking about it. You need to make it happen.”

The need for impactful innovation programs was a core theme of the recent ResolveTO conference, which brought together the two halves of Toronto’s innovation economy — startups and enterprises — to explore new ways of forging partnerships to succeed on the global stage.

Forming Good Habits

One strategy, said Ahmad, is to adopt the habits of proven innovators. “I think innovation is habitual, and forming these habits can take you very far,” said Ahmad, who has studied startups and real-world corporate innovation in her previous role leading Rogers Ventures and Rogers Strategic Partnerships.

In her keynote, Ahmad provided insights into habits practised by innovative thinkers, from Jane Goodall and Albert Einstein to the founders of Cirque du Soleil and Ted Rogers, and highlighted the importance of looking at opportunities from different perspectives, trusting your instincts—and ultimately taking action. “This is what separates those who think innovatively from those who are truly the innovators,” she told attendees.

The opportunities for innovation are greater than ever, said Ahmad. Advances in communications technology make it easier to collaborate and harness a diversity of perspectives. The trend toward more open and collaborative office spaces also helps, as does the adoption of design thinking, a methodology for solving complex problems with a combination of logic, imagination and intuition.

"The opportunities for innovation are greater than ever. Advances in communications technology make it easier to collaborate and harness a diversity of perspectives."

- Nyla Ahmad 

But ultimately, innovation still requires focused effort. “Given our businesses’ current capabilities, it’s realistic to expect more innovation,” she said. “But it’s unrealistic to expect that it will simply happen on its own.”

Smarter Together

The mission of ResolveTO was to explore the many ways in which enterprises and startups could help each other make something happen.

For startups, established companies offer potential sources of not only investment capital but also customer validation for their product or service, which might not yet be completely battle-tested. Pilot projects with an established, willing partner can be a crucial first step on a startup’s growth trajectory. They can also help a young firm identify where they to focus further development.

Larger companies increasingly turn to startups for innovative solutions to business problems. Developing an in-house solution takes resources and strategic focus that a company may not be willing to sacrifice. It also may not have the ingenuity to find an elegant approach. Identify the right startup, and it may even become an investment or acquisition opportunity.

High-Speed Networking

But navigating large, opaque organizations can be daunting. “The biggest challenge startups have with Rogers is finding the right decision-maker to make something happen,” said Robert Switzman. As Vice-President, Innovation at Rogers, Switzman runs point on startup inquiries, vetting them for how well they could meet the needs of business units.

ResolveTO facilitated a more efficient way to connect with startups. Inside its Speed Dating Zone, representatives from companies such as IBM, Deloitte, Mercedes-Benz, Fujitsu, Corus, and The Globe and Mail, as well as Rogers, met for several hours a day with dozens of startups. Entrepreneurs had just a few minutes to pitch each large firm. Over the course of two afternoons, Switzman met with about 35 startups — everything from just entrepreneurs with only an idea to startups with proven deployments.

“If I were in the office, I would have to spend a half an hour with each of these companies,” said Switzman. “This process is a very efficient way to find needles in a haystack.”

The Startup Mindset

The same held true for startups, whether they directly pitched companies or just chatted informally. Aram Gabrielian of Port, an early-stage startup in transportation, found lots of opportunity to connect with potential investors and collaborators to see if they could add value to each other. His big takeaway?

“Keep hustling. You’re a small fish in a big pond.”

It’s that mindset that companies of all sizes need to embrace, said Rogers’ Ahmad. “I think enterprises are on a collision course with startups today on a platform of cloud-based innovation,” said Ahmad. “It’s important for Canada to bring these two mindsets together, because in the end, it will help our economy grow.”