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Strategic Alliances with University Libraries

In: Innovation Mechanisms in Start-ups

Author

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  • Varun Gupta

    (University of Alcala
    GISMA University of Applied Sciences
    GISMA University of Applied Sciences)

Abstract

As sources of market research, university libraries could be important collaborators for startups. Libraries may be able to assist entrepreneurs in gathering information about global and domestic markets, allowing them to reinvent their business models. Their assistance may be critical for startups to overcome the limitations of newness and smallness, allowing them to extend their operations abroad. By utilizing strong social proximities with its social media users and availability of competitor information across their social accounts, social networking technologies could be effective for libraries to acquire worldwide market knowledge for startups. The constant and long-term support of libraries will be the key to market success as the business environment for startups changes so quickly and there is a need to be very responsive to such changes. Using social networking technology, a strategic partnership between libraries and startups might be established and maintained. This chapter discusses the significance of social networking technologies in building strategic partnerships (particularly in addressing business needs for market research), as well as the obstacles and solutions that may be encountered. Prototyping technologies can help with SNS adaption for the development of such partnerships. During a pandemic, libraries provide more online support to the business community, as well as increasing usage of social media. The libraries’ pricing model for offering their services could be classified into four categories: free, freemium, and subscription model and revenue sharing model. These models depend on the priorities of the country, the sectors in which the startup operates, and how well they support social innovations. As this field matures, new models are anticipated to appear. This chapter is based on real-world consulting experience with a Spanish company and the library of a top American university in Madrid. This chapter is also based on practical experiences with various businesses, particularly during pandemics.

Suggested Citation

  • Varun Gupta, 2023. "Strategic Alliances with University Libraries," Innovation, Technology, and Knowledge Management, in: Innovation Mechanisms in Start-ups, pages 23-38, Springer.
    • Handle: RePEc:spr:innchp:978-3-031-19741-3_2
    DOI: 10.1007/978-3-031-19741-3_2
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