New awards recognise corporates that successfully innovate with startups

For those companies that have successfully worked with startups in developing their innovations, they could be up for a new award in 2016.

Fusions Labs, an innovation lab located in startup co-working space Fishburners, is launching the Startup Friendly Awards to recognise and encourage businesses to get involved in the startup community and tap into a diversity of new talent.

Companies can pre-register themselves, with nominations to open early 2016. The awards night will be held mid-2016.

Companies can be up for awards under different categories such as demonstrable use of open innovation to get a product to market, co-innovation through contests and incubator programs, and respect for fair IP and supporting the startup community.

“This year saw a rapid growth in corporate venture funds, the number of hackathons and contests in the industry, and many companies and government departments opening up data and API’s to external developers. We want to see that momentum continue – if corporates don’t disrupt their industry, someone else will,” CEO of Fusion Labs, Patrick Crooks, said in a statement.

He said a deserving winner candidate for an award is one that has managed to overcome challenges of understanding different work cultures or styles between corporates and startups, properly managing IP and ownership, opening up data and APIs, and following through to execution and deployment.

“This is what makes the Awards so important because by solving the problem of how to engage in these key areas, it is solving a real problem for the industry,” Crooks said.