11 Jul Southwest Airlines Partnership Bodes Well for DFW Startups
Addison News recently announced a partnership between Southwest Airlines Co. and The Addison Treehouse, a local startup co-working space that provides entrepreneurs with education and mentorship opportunities to support their business efforts. The two companies are hosting a competition they call “Soar to Success” for local minority and women entrepreneurs. The winner of the competition will receive free travel from Southwest Airlines for a year.
Partnerships between large brands and startups is a growing trend, illustrated by LG partnering with a London-based startup just last year, and Campbell’s current plan to invest millions in food startups this year. There have been many others in just the past few years that illustrate the benefits these partnerships bring to both companies involved.
Harvard Business Review says that larger brands have the ability to scale proof of concepts, while startups are better at finding out what the consumers want and honing it until they get it right. While there are things startups should consider before partnering with a large company (not all that glitters is gold), the trend for this kind of partnership only seems to be growing.
This is exciting news for the Dallas startup scene, which just hosted its second annual startup week in April. In just one year, this event has already become so successful that the majority of Dallas startups skipped Austin’s South by Southwest for the first time this year. This is a sign that the DFW startup community has a great support network and is healthy and growing. With so many large companies headquartered here as well (many of them on the Fortune 500 list), and even more moving in (such as California-based Kubota coming to Grapevine), we look forward to many more of these great partnerships in the future.