There are three trends are behind this shift:
- The ease of innovation and its decreasing cost mean that start-ups now face the same short-term pressures that have constrained innovation at large companies.
- Taking a page from start-up strategy, large companies are embracing open innovation and integrating entrepreneurial behaviors with their existing capabilities.
- Innovation increasingly involves creating business models that tap big companies’ unique strengths.
In this context, “corporate catalysts” — entrepreneurially-minded people inside corporates — are working with corporations’ resources, scale, and growing agility to develop innovative solutions to global challenges.
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