For years, large established companies have invested in startups alongside venture capital funds, often seeing strong returns but gaining little in terms of synergies with their core businesses. However, a more symbiotic relationship is emerging, where corporates not only provide capital but also serve as a ready market for startups to test-bed their innovations and scale their businesses.
In a bustling co-working space in Singapore's Central Business District, a small team of engineers from a local artificial intelligence (AI) startup is excitedly preparing for a crucial meeting. Their client? Not another cash-strapped startup, but a multinational corporation with deep pockets and a pressing need for innovation. I have watched this scene become increasingly common in Singapore and it exemplifies a new business model that's breathing life into the startup ecosystem amid a global funding winter: venture clienting.
A symbiotic solution in challenging times
