INTRODUCTION: Making the Right Match Partnerships between large, established companies and innovative startups can be fruitful for both parties. When the right enterprise and startup connect, the bigger company taps into exciting new technological solutions, while the startup beneifts from street cred that comes with landing a big customer and a stable source of revenue. But these partnerships can be tricky to pull off. Startups and Fortune 500 companies are very different beasts. Startups live by the motto “move fast and break things.” Big companies may want to harness that kind of innovative spirit, but they still need to navigate many layers of management and get things approved. At Battery, we’ve worked with hundreds of portfolio companies to help them strategize and ifgure out how to land big customers; how to work more smoothly with a larger partner’s processes; and how to use a big client’s feedback to reifne their product without getting sidetracked on custom ifxes that don’t scale. We’ve seen the pitfalls that can doom a promising startup-enterprise partnership. And we’ve seen how such partnerships, handled well, can unlock tremendous innovation that beneifts both sides. In this whitepaper, you’ll ifnd advice for both parties in a startup-enterprise deal. We’ve organized the articles to address the enterprise audience ifrst, then startups. Whichever side of the table you’re on, we hope this advice can help build better, more productive, more innovative partnerships. Let’s get to work! Scott Goering Scott Goering VP, Business Development, Battery Ventures 3