The Fast Company Impact Council highlights how established companies struggle with engaging external innovation, particularly in sectors like water. Xylem Innovation Labs exemplifies effective corporate innovation through its structured approach to collaboration with startups. Founded in 2021, the initiative aims to leverage external technologies and bridge gaps in corporate product offerings. Its Partnerships Accelerator serves as the core, focusing on rapid implementation of innovative solutions to address pressing water sector challenges. This model enables mutual benefit, expanding company capabilities while empowering emerging entrepreneurs through enhanced distribution channels.
Xylem Innovation Labs stands out by deliberately engaging with water entrepreneurs to bridge the gap between corporate innovation and external technological advancements.
Building a corporate innovation function requires precise structuring to avoid fragmentation and internal resistance, a challenge met successfully by Xylem Innovation Labs.
The Partnerships Accelerator at Xylem is designed to fast-track breakthrough technologies, addressing critical water challenges for utilities and communities.
Large companies in water struggle to engage with entrepreneurs, which hampers innovation. Yet, collaboration can lead to expansive product offerings and startup scalability.
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