Published on 03/05/2019 by Any Business.Com.Au

Do small businesses even collaborate?

It's common place for big businesses to collaborate with industry experts, technology partners and/or key suppliers - but does this type of thing work the same for small businesses? Does it even happen?

Collaboration can give your business an advantage in the market by providing access to the latest research, technology, or experts in the field - and yes, more and more small businesses are exploring the option.

By expanding your network and forming partnerships, your small business has the potential to gain additional industry-related knowledge and with it, the potential to grow

Open innovation in business

Open innovation is a business model that encourages you to collaborate with external partners. It recognises that no one business can have all the expertise and own all the best ideas.

Open innovation can include:

  • seeking access, licensing and use of existing knowledge or technology, and collaborating on joint research projects
  • research and collaboration with partners such as university groups and key suppliers
  • partnering with other companies (either competitors or non-competitors)
  • out-licensing technology to non-competing groups.

Collaborate locally

Tips on how to collaborate locally:

  • Collaborate locally with researchers for new ideas and solutions
  • Find open source communities that generate innovations such as cloud computing, and online communities at the forefront of digital design
  • Keep an eye on app stores for new product ideas
  • Research crowd funding platforms relevant to your business
  • Build valuable contacts and networks that in turn build your commercial success.
  • Invest in the time to plan and bid for contracts and tender
  • Develop consistent processes for each collaboration
  • Be prepared to share your skills, knowledge and expertise

Collaborate globally

The success of the global economy comes from businesses that recognise the value of research and innovation. Rapid progress in science and technology is transforming business models and disrupting methods of business.

There are many resources for innovative businesses to grow globally, and there is no better time to get ongoing support for research and innovation.

The business benefits of international collaboration include:

  • sharing business international knowledge, changes and expertise
  • establishing networks in export markets
  • increases competition in the innovation process
  • benchmarks Australian research quality and expertise globally
  • allows Australian researchers and business' access to global funding
  • provides international sources of inspiration and new ideas

Business-research collaboration

Innovation is a key way for your business to improve processes and performance, and add new products or services.

One successful way to innovate is to collaborate with researchers from research organisations funded by the government, such as universities and Commonwealth Scientific and Industrial Research Organisation (CSIRO).

They can bring in-depth expertise and new ideas to your business.

You can collaborate in different ways, including:

  • formal, joint research and development (R&D) projects where you and a university or research organisation work together towards a common goal
  • PhD placements, where a university researcher works with a business on an agreed research project
  • fee-for-service, or consult with a university or research organisation that provides you with their research knowledge, skills and know-how
  • licensing arrangements, where a university or research organisation allows you to use their intellectual property (IP), often to commercialise their technology
  • attending workshops, events or training activities
  • informal chats with your local university lecturers

How can research collaboration help my small business?

Working together with researchers can help you to:

  • diversify and grow your business
  • develop new products and services
  • share or minimise risks from research projects
  • get access to specialist skills
  • expand your networks
  • help you recruit skilled staff and take your pick of the best and brightest students
  • provide you with product testing and verification, to help you better market your products
  • support skills development of existing employees and build an innovation mindset
  • help undertake research and solve real-world business challenges
  • help students learn from businesses and improve their work readiness

How to find a research partner

If you're interested in innovating through business-research collaboration, the tools below can help you find your research partner:

  • Read about AusIndustry's Innovation Connections grant program to help you find the best university or research institute to meet your needs
  • Use the Data 61+ Expert Connect platform, where you can search by a field of knowledge, institution or name to find your expert
  • Browse the Source IP tool by IP Australia to connect your business with Australian public sector research organisations

You can look at the research by Australia's public sector research organisations, and get in touch with the researchers you want to work with.

Government grants to help you finance your collaboration

The Australian Government has a range of programs offering advice and financial support to businesses and researchers wanting to collaborate - head to www.grants.gov.au.

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AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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