Photo by Patricia Clark, Highnote Foundry, 2015.

Dan Sachar is a client partner and Miami office head of Highnote Foundry, a consulting, capital and incubation services firm that builds startups in partnership with larger corporations. Below, he writes about a Jan. 8 gathering sponsored by Knight Foundation titled “Corporates & Startups: Partnering for Growth.”

Last week a capacity audience of corporate executives, investors and entrepreneurs packed a room in Coral Gables to learn what happens when large corporations and early-stage startups join forces.

I was lucky enough to moderate a diverse panel of brilliant South Florida business people and engage the audience in a discussion about not only how established corporations and startups can partner for growth, but also how these partnerships can provide a key ingredient to turbocharge Miami’s entrepreneurial technology scene. 

To corporations, building and launching “startups” represents new revenue streams that can accelerate growth. Panelist Lorenzo Vallone of Casa (a J. Walter Thompson/WPP firm based in Miami Beach), for example, explained how a design and mobile marketing agency can drive faster growth by spinning off and investing in new businesses rather than sticking to fee-for-service project work. 

For others, connecting with startups is an imperative for survival in a changing environment.  Robert Schwartz, M.D, of the University of Miami Health System, described the challenges of a large health care organization moving away from “treatment-based” business models to one of “wellness and prevention” and how innovative new technology capabilities represent the key answer to helping them make that move.

And others see a tremendous investment opportunity.  Marco Giberti, a successful entrepreneur, corporate executive and now venture investor with Vesuvio Ventures, is actually guiding a multibillion-dollar corporation into taking minority stakes in startups.

In all cases, the corporation still can leverage significant assets in the form of customers, expertise, routes-to-market, capital and more. But the startup provides new capabilities and business models that can accelerate growth for both parties. 

The energy and enthusiasm of the attendees was palpable; the majority of the audience even stayed for an additional hour of networking and passionate discussion. It became clear that this topic is wanted and needed. In fact, connections formed in that room are continuing – and we have already launched a LinkedIn group to facilitate that process.

We’re committed to continuing this discussion and it’s why we’re grateful for Knight’s support in making the event possible—and its commitment to connecting and propelling South Florida’s entrepreneurs.

For Highnote Foundry, we believe a startup that has access to corporate assets is exactly the kind of company we want to help build.  Our incubation capabilities, operational experience and investing expertise is designed to work with both large corporations and startup talent to build new businesses – businesses with the “advantage” of having a corporate partner.

Highnote Foundry is particularly enthusiastic about Miami and South Florida. An emerging, but fast-growing startup ecosystem brimming with great new businesses and ideas, Miami is the perfect place to make an impact.  With increasing corporate participation, the number of success stories should grow that much more, creating a virtuous cycle. 

We welcome your participation in this effort – whether you’re a startup interested in scaling your business, a corporate seeking new growth streams or investors seeking to invest in “advantaged” startups.  Join our LinkedIn group to network and discuss, contact me at any time and stay-tuned for future events. This is just the beginning.