For those that think sponsorship is about is about PR, brand association, emotion, you are right. For those of you pushing for more, there is. It is, and always has been about integration in every way.
For those looking for a press release (do they still do that?), a FB post/Twitter (do they still do that?), or a round-up-at the register for a week, you will not get what you are looking for.
Look deeper. We finally have the capacity to engage online and offline in so many ways. Innovate
Wednesday, July 31, 2013
MIT Media Lab and New Balance, Innovation, Agenda, Different Ways
The New Balance multi-year sponsorship of the MIT Media Lab is a good example of engagement on an enterprises basis rather than philanthropy. I actually would not even call this partnership a "sponsorship" because there is so much more depth to it.
If you look up the definition of enterprise, it is the willingness to undertake new ventures; initiative. That is exactly where we need our mindset to be in order to keep developing (biz dev vs fundraising) and keep innovating.
Here is the summary and note the key words: collaborate, long-term, innovation, agenda, opportunity, expertise, different ways.
"New Balance announced a multi-year sponsorship with the MIT Media Lab. The Media Lab will be used as a tool to spark creativity within New Balance’s Studio Innovation Center, based in Lawrence, MA.
“Our relationship with the MIT Media Lab gives our engineers, designers and product managers the opportunity to collaborate with professors and students from one of the world’s most innovative graduate research programs,“ said Katherine Petrecca, New Balance manager of studio innovation, in a release. “This relationship is an important tool in fueling our long-term innovation agenda at New Balance.”
MIT Media Lab Director Joi Ito said New Balance will help the Media Lab “continue to push the boundaries of traditional academic frameworks, and think about science and technology in different ways.”
“We’re looking forward to the input that New Balance will bring with their expertise in areas such as athletic footwear and apparel,” Ito said.
“Our relationship with the MIT Media Lab gives our engineers, designers and product managers the opportunity to collaborate with professors and students from one of the world’s most innovative graduate research programs,“ said Katherine Petrecca, New Balance manager of studio innovation, in a release. “This relationship is an important tool in fueling our long-term innovation agenda at New Balance.”
MIT Media Lab Director Joi Ito said New Balance will help the Media Lab “continue to push the boundaries of traditional academic frameworks, and think about science and technology in different ways.”
“We’re looking forward to the input that New Balance will bring with their expertise in areas such as athletic footwear and apparel,” Ito said.
Thursday, July 25, 2013
From Financial Education to Financial Capability
If you are working with low to moderate-income individuals and have a focus on financial education (educating through classes, seminars, etc.), take a look at this brief that the Center for Financial Services Innovation released. Pay close attention to where financial services are rapidly moving: Financial Capability which is more high-touch and engaging.
Wednesday, July 24, 2013
Verizon Foundation: An Innovative Approach to Philanthropy
The Verizon Foundation made a strategic decision to align with the company’s entry into new markets. “Through a focused model that includes grants and in-kind giving of our technology, as well as partnerships with leading nonprofit organizations, the Verizon Foundation aims to become an incubator for new social solutions to demonstrate the efficacy of our products in real-world settings while accelerating deployment of our technology to underserved communities.”
This reminds me of a similar approach that IBM took with SeniorNet back in the early 2000’s. They provided a cash grant to use SeniorNet (tech training for adults aged 50+) as a pilot site for a system developed by IBM to “make the Internet accessible to everyone, including people who have visual limitations that make it difficult or impossible to see a Web page or motor impairments like tremors that make it difficult to type or use a mouse.” The software was available to all SeniorNet members and was the first phase of the roll-out of a new product.
Strategic partnerships and ventures with corporations in this capacity are smart because they serve as platforms to drive future growth and innovation.
This reminds me of a similar approach that IBM took with SeniorNet back in the early 2000’s. They provided a cash grant to use SeniorNet (tech training for adults aged 50+) as a pilot site for a system developed by IBM to “make the Internet accessible to everyone, including people who have visual limitations that make it difficult or impossible to see a Web page or motor impairments like tremors that make it difficult to type or use a mouse.” The software was available to all SeniorNet members and was the first phase of the roll-out of a new product.
Strategic partnerships and ventures with corporations in this capacity are smart because they serve as platforms to drive future growth and innovation.
Hospitals and Universities, Engaging Corporations on an Enterprise Basis
Companies are focusing on engaging with research universities and hospitals on an enterprise basis rather than just philanthropic. This is a smart shift because there are so many strategic benefits on all sides. Think of new products produced together to generate income, licensing, research & development and top it off with a philanthropic donation.
Take a look at a blurb in NARCRO’s white paper that clearly frames the issue:
Companies were “pushing back” and making it clear that unlike government agencies or foundations, they are not in the business of giving away money that does not have at least a potential for business outcomes. According to the summer 2010 Sloan Management Review article, “Best Practices for Industry-University Collaboration,” industry interactions with academia are intended to “extract the most business value possible from [university] research.” Corporations no longer consider themselves to be simply donors to academia; they consider themselves to be investors and business partners, where knowledge creation and transfer are a significant part of the equation.
Take a look at a blurb in NARCRO’s white paper that clearly frames the issue:
Companies were “pushing back” and making it clear that unlike government agencies or foundations, they are not in the business of giving away money that does not have at least a potential for business outcomes. According to the summer 2010 Sloan Management Review article, “Best Practices for Industry-University Collaboration,” industry interactions with academia are intended to “extract the most business value possible from [university] research.” Corporations no longer consider themselves to be simply donors to academia; they consider themselves to be investors and business partners, where knowledge creation and transfer are a significant part of the equation.
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