25 Access to New Technology Startups are often the source of cutting-edge technol- ogies. Whether focused on AI, IoT, or digital appli- cations, corporate venturing practices allow corpo- rations to explore, test, and potentially adopt such innovations rapidly. At the same time, corporate partnerships can grant startups the resources and market access they need for accelerated development and growth. ABB, for instance, collaborates with technology start- ups to develop advanced digital solutions tailored to customer needs. This approach helps ABB expand its portfolio and maintain a competitive edge in auto- mation and digital transformation. Adobe’s expan- sion into 3D and immersive technologies illustrates how partnering with startups can secure long-term technological leadership. Meanwhile, Airbus has established a Cyber Innova- tion Center in Newport, Wales, as part of a broader innovation ecosystem that includes research initiatives, incubators, and accelerators. Through this network, Airbus leverages startups to advance its cybersecurity capabilities, meeting rising demands for connectivity in an increasingly digital world. Indian conglomerate Larsen & Toubro achieves access to new technology goals through its CVC unit, which invests in startups after they demonstrate product-market fit and attract the first customers. Risk Management One of the foremost challenges facing large corpo- rations today is the need to react swiftly to critical risks like market disruptions and technological shifts. Since startups offer lean structures and a reputation for rapid innovation, corporations often target them to avoid being overtaken by emerging technologies and other innovations. For example, Cisco Systems recognizes that competition with startups is inevitable and stra- tegically invests in early-stage technologies. Verizon Communications, through its 5G innovation labs, aims to “disrupt itself before being disrupted,” showcasing venture building as a tool for proactive corporate transformation. And Stellantis acknowl- edges that the shift to electric vehicles creates opportunities for both traditional competitors and tech startups, making startup collaborations a significant factor in its business strategy. From a startup’s perspective, these collaborations help mitigate the “liability of newness” by pro- viding credibility, industry insights, and access to a well-funded corporate framework for testing solutions. A notable example is Airbus’s Startup 2 Partner program, which enables startups to “de-risk” new technologies by leveraging Airbus’s prototyping expertise and global network. This approach allows startups to refine their solutions in a controlled environment before scaling.