Connecting Corporations with Entrepreneurs to Drive Innovation
The Corprenect Program connects innovators and entrepreneurs with corporations in Maryland for technology development projects that drive innovation.
Through the program, entrepreneurs and innovators advance technologies, services and solutions for interested corporations. Innovators benefit by gaining a clear path to the expertise, resources and opportunities offered by corporations. Corporations benefit by engaging in low-cost, low-risk R&D with innovators through a structured program catered to their individual needs. A streamlined process for engagement benefits both sides.
Corporations pitch their challenges and interests to innovators and entrepreneurs, who can then choose to develop products or services to fit those needs.
Innovators and entrepreneurs engage in a four-week intra-corporate customer discovery initiative, along with corporate mentors. During this part of the process, corporations and innovators determine product/service fit and viability.
Opportunities for corporations and innovators include, but are not limited to, research and development, pilot programs, joint proposal development, and venture funding.
What’s in it for Innovators and Entrepreneurs?
Build corporate relationships and partnerships
Simplified, streamlined path to corporate engagement
Pilot your product or proof-of-concept
Acquire brand and product exposure
Gain validation and credibility with corporate partners
Access market knowledge and expertise
Identify the corporate experts in your market
Explore additional opportunities for corporate engagement
What’s in it for Corporations?
Low-cost, low-risk R&D with innovators through a structured program
Identify and remove internal roadblocks to innovation
Access capabilities not immediately available internally
Test innovative business models and validate customers
Develop products in areas related to but outside of your company
Explore new product segments
Shorten the cycle of innovation
Identify new opportunities for collaboration, such as a joint venture, investment, or licensing deal
Simplified, streamlined process of engagement
Spur external innovators to tackle challenges specific to your business
Corprenect Pilot #1
Data Analytics for Cyber Security Challenge with Northrop Grumman
July, 2018: cohort kicks off with four teams of Maryland innovators working with Northrop Grumman on cybersecurity solutions.