Facilitating Innovation of a LargeScale Company with External Startups

Sammanfattning: Along with an increased environmental awareness, companies are encouraged to go through big, internal transformations and look outside of their core businesses. For them to remain competitive, they need to show an urge for external innovation and collaboration with startups. Front end innovation (FEI) plays a crucial role in the success of ideas, yet the process for it is scattered and unorganised. The purpose of this thesis is to provide structure to external FEI and ensure success to further stages such as commercialization. The thesis was conducted at a large, sustainable materials company, by performing a literature study and qualitative interviews. The results were divided in two parts: (1). Identification of tools and success factors within FEI and (2). Construction of a relevant business model at this phase based on previous findings. The discussion of the results has been derived by performing deep analysis of the data and benchmarking it to previous findings. The thesis resulted in concrete suggestions and improvements of FEI management processes. A business model framework applicable for FEI processes is suggested based on recommendations and findings. Concluding, I argue that the result can be considered as a bridge between large scale companies and external startups, as well as between FEI and commercialization, however, it needs to be validated on other environments than the subject company.