SwitchPitch was born out of necessity. Too many startups – include those of our founder – struggled forming enterprise partnerships. Startups spend too much precious time and money chasing corporate deals that don’t materialize.
Our beginning started with a simple hypothesis: would partnerships happen faster if they started with the corporate need; rather than the startup solution? To test the hypothesis, we gathered an incredible team of dedicated startup supporters to host an event. The format: large companies pitch innovation needs to an audience of startups – thereby switching the traditional pitching format. And so SwitchPitch began – initially as an event.
As the event format spread and gained popularity, corporates made it clear they needed an ongoing solution to identify and manage startup relationships. The SwitchPitch platform initially supported the projects / challenges presented at the event – enabling startups to apply to projects online.
Corporate usage increased and SwitchPitch expanding into an enterprise startup relationship management (SRM) platform. Along the way, we attracted an impressive group of investors, include Dreamit Ventures. Our vision is simple: corporate / startup partnership are the way all enterprises do business.
Today, innovation teams from top Fortune 500 companies use the platform’s proprietary startup database to scout startups, pipeline relationships, engage in pilot projects, and get deals done. True to our roots, we still enable enterprises to post challenges to our online marketplace, where startups find relevant projects and apply to them.