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10 reasons why established companies have more advantages at innovation than startups

Updated: Oct 11, 2023


10 advantages for established companies in innovation

In today's era, there are plenty of startups bringing innovative ideas and concepts into the business world. They have a great passion for their product and are willing to take significant risks as entrepreneurs to build their businesses. However, many of these startups fail to establish themselves in the market in the long run and face challenges in their early years of existence.

On the other hand, established companies have been successful for many years and have managed to hold their ground in the market. These companies, unlike startups, have all the prerequisites for successful innovation, such as a large number of employees, expert know-how, long-term financial resources, existing ecosystems of partners, a loyal customer base, and trust in an established brand. Below are 10 reasons for advantages for established companies in innovation:


1. Experience with risk management: Established companies have a better understanding of risk management, which helps them implement innovative (and risky) ideas.


2. Capital: Established companies have more financial resources to drive innovation forward.


3. Experience dealing with suppliers and customers: Established companies have a solid understanding of their customers' requirements and expectations, which aids them in implementing new ideas.


4. Expertise: Established companies have access to experienced experts who assist them in realizing innovative ideas.


5. Branding: Established companies have a strong brand presence that helps them quickly bring new products and services to the market.

"Innovation is the ability to see change as an opportunity - not a threat."
Steve Jobs

6. Networks: Established companies have a strong network of partners, customers, and suppliers that help them in implementing innovative ideas.


7. Culture: Established companies have a well-defined corporate culture that encourages innovations.


8. Scalability: Established companies have a better understanding of the scalability of innovations and can control costs more easily.


9. Experience with customer satisfaction: Established companies have a solid understanding of customers' needs and expectations, which aids them in implementing innovative ideas.


10. Trust: Established companies enjoy a high level of trust among customers and partners, which makes it easier to implement innovative ideas.


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