Date: 13/12/2017

Digital Acceleration: The Latest Trends in Digital Transformation

In cooperation with StartIt Centre, Pricewaterhousecoopers (PwC) and consulting company Black Pine, AmCham organized “Digital Acceleration Day”, an event dedicated to the introduction of new digital technologies into big organizations and the potential for collaboration between companies and start-ups.

Digital Acceleration Day attracted representatives of large international and domestic companies, state institutions, start-up community and small companies that develop software solutions who discussed opportunities and potentials for cooperation between companies and start-ups, as well as the necessity for larger organizations to adapt more quickly to the challenges of digitization and the introduction of startup methodology and innovation in daily business operations.

Vukašin Stojkov, co-founder of StartIt Centre, pointed out that large companies, which more slowly adapt to modern market demands, should pay attention to domestic startups and include startup methodology to their daily operations because this is the only way to stay competitive not only at local, but also in the world market.

Emmanuel Koenig, Country Managing Partner at PwC, agreed with the statement that large companies need access to modern technologies and technological innovations, and for that reason cooperation with start-ups is essential for improving the business of large companies. However, both companies and start-ups have different views on potential collaboration.

“70 percent of startups believe it is very important to have large companies for partners because of resources and experience. But companies generally do not have agility and fresh ideas. The main challenge for companies is how to connect with the appropriate startup. The question is how to find the right way to connect large companies with startups”, said Koenig. On the other hand, the main challenges for start-ups in terms of cooperation with companies are, above all, existing long-lasting and complex processes of operations.

As a conclusion of the meeting, it was emphasized that despite differences in attitudes, startups should actively seek a company that will be interested in their product, to understand the basic goals and organization of the company, but also to get acquainted with the legal regulations. Large companies are encouraged to overcome the fear of cooperation with startups, but also to provide support to their employees who are involved in innovation processes in the company. Only those companies that strongly go through the process of digital transformation and implement startup methodology will be successful in the market.