Guest blog by our friends at Aviva:
Launching a new business is not an easy journey. However, by working with a large company, you can overcome some of the most common challenges faced by new startups and obtain the necessary resources to successfully launch your business. One large company who is offering support and opportunities to startups is Aviva. From running a FinTech Hackathon to piloting a massive twelve startups, they are demonstrating that they are serious about supporting the rising stars of the tech world.
Want to launch your idea? Interested in landing a partnership with a big company?
Here are Aviva�s 8 steps on how to build that rocket of a startup:
A mission needs more than astronauts
Space agencies are not just comprised of astronauts. Behind every mission is a highly important team of scientists, engineers, IT specialists, human resources specialists and so on. Never underestimate the power of having a strong team behind you.
Build a scalable model
Your blueprint rocket needs to be designed for scale. To attract investors and obtain interest from big corporates, it needs to be a scalable business (has the potential to produce large revenue at a minimal cost).
Your rocket needs a strong but lightweight structure
It is essential that you can demonstrate the viability of your idea. By creating an MVP (a minimum viable product) � in the other words, a lightweight structure � it will make your idea much stronger and easier to obtain that necessary buy-in.
Second Stage Engine to increase lift capability
For many StartUps, partnering with a big business can act like a second stage engine, helping to propel your startup that bit higher. With access to resources, a large customer base and industry expertise, they can help startups break into a market that would otherwise have several barriers to access and help to scale the business.
Think bigger than the rocket - understand the larger mission.
If you�re looking to partner with a big business, it is vital that you understand the business�s larger mission. If you can demonstrate how your startup will help the business to achieve its strategic objectives, your rocket is much more likely to succeed. So do your research, investigate the company�s financials and understand their vision.
The Interstage Adapter (i.e. the structural connection)
If you want to partner with a big corporate, establishing a good relationship is really important. A partnership with a large organisation, should be founded on trust and transparency � if both sides follow those principles, you will have a much more successful and profitable relationship. Additionally, never underestimate the value of creating strong relationships with key players in the organisation � they could be the ones to champion your business and obtain buy-in from leaders, as well as provide you with key insights into the business.
A Restartable Engine
Big businesses are interested in startups that can keep delivering and providing new innovations. If you can demonstrate that you will deliver continuous innovations and future solutions for customers, you are geared up for success.
Finally, working with startups is often new territory for big businesses. At Aviva, we want you to tell us what you want and need, so that we can accelerate your growth in the best way possible.
So, if you want to launch an idea related to insurance or fintech, we can provide the Launchpad . . .
On the 4th August, Aviva is holding a free event for startups: http://www.meetup.com/InsuranceTech/ - a perfect opportunity to connect with Aviva�s innovation team, shape new ideas and perhaps even become the next startup to pilot with Aviva!
. . . this vehicle is now going super-sonic . .