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.
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