What big companies can learn from startups to innovate more successfully?

Abstract

Although innovations play an important role for a success in nowadays business, not all companies, specifically established big corporations, are able to innovate successfully. Yet, big companies are good at performing incremental innovations, which bring slight improvements but less value. However, they tend to systematically fail in conducting breakthrough innovations. There are a variety of reasons for that: complicated internal regulations, procedures, structures, inefficient innovation processes, etc. Startups and small companies are often more flexible, agile, adaptive and successful in conducting industry & changing innovations. In my master thesis I would like to analyse the internal barriers, preventing big companies from successful innovating, research what start & ups are able to do more efficiently, and outdraw the recommendations, how to incubate best practices from startups into big companies, in order to increase their success rate in introducing innovations.