How to make sure talents chose your corporate startup
The potential for corporate startups in Portugal — Part 3
A 3-part series about the definition of a corporate startup, why Lisbon is the place to build it, and how be the employer of choice in a competitive tech ecosystem.
Over the past years, Lisbon became one of the most attractive places in Europe for startups and tech-savvy young professionals. Many articles and studies highlight the city’s potential and showcase the growing number of startups and accelerator programs [1], [2]. But why is Lisbon also the perfect place for corporate startups? Let’s explore this topic from the point of view of such a corporate startup based in Lisbon.
Why talents will choose your corporate startup
Being a corporate startup offers many benefits, and you need to put them on the table to win over talents and be the employer of choice in this competitive tech ecosystem. Here are some of the most relevant ones for jobseekers:
- More financial stability & reaction during crisis
Corporate startups are financially backed up by the corporate for the first years until they can support themselves. This also gives employees a calmer sleep at night, not being worried about the funding decisions in the next investors round. This is especially true during a (global) crisis, because we all know how a crisis can hit a company. If investors suddenly pull out, salaries can’t be paid and people need to leave. This doesn’t mean corporate startups are not hit by hard times, but they generally have more financial stability and the effects might feel smoother for the employees.
- Experienced C-level leaders
C-levels of corporate startups are, most of the times, experienced professionals who have led international teams before. They are either relocated from the corporate or are carefully sourced externally for this role.
- Global relevance
If you work in a corporate startup, your products will probably serve a global customer base. Even if you are “just” building a data pipeline that sends data from sensors to the cloud, this will be globally relevant for a huge variety of products of your corporate.
- Product relevance
Developing products for a big corporate, like an OEM, gives your employees the opportunities to work on real product which are out in the markets with real data from the customers. Our data scientists for example work on predictive maintenance use cases for our truck customers in the US, having more insights than a third-party company would have.
- Access to an immense knowledge base
Although there won’t be an on-demand book containing all the knowledge of the corporate, being part of a global corporate organization gives you access to valuable knowledge and connections. It opens you a lot of doors, you just have to walk through them.
- Organic growth
Corporate Startups have a growth plan, year by year, and get new vacancies approved based on the needs in the products. Therefore, growth is usually a slower, more organic and sustainable, which promotes a healthier company culture.
Even if not all these advantages fit to your company, you will have others that make you unique and attractive for talents. Don’t hold back when showing a candidate why they should choose you. The market might be very competitive, but that doesn’t mean it is not selective. Unique advantages of corporate startups such as increased stability, wider access to expert knowledge and connection to a globally relevant brand are attractive aspects that people will consider when looking for a job. Especially when all these are combined with a flexible startup mindset. It’s not a fairytale but it can have the best of both worlds.
If you are thinking about building your corporate startup in Lisbon, reach out to us for more insights.
