In recent years, partnerships between non-profit organizations and for-profit businesses have become increasingly common worldwide, with many corporations recognizing the benefits of collaborating with charities to achieve shared goals and drive positive social and environmental change. Many corporations, including Target and Disney, have established dedicated programs focused on corporate social responsibility or sustainability, which include partnerships with non-profits as a key component. That’s why, in this guide, we’ll be looking at some case studies of successful corporate partnerships and discussing why .com and .org businesses and charities have the potential to build a bright future.
What Are Corporate Partnerships?
Corporate partnerships refer to collaborations between businesses, companies, or corporations with other organizations, entities, or individuals, to achieve mutually beneficial goals. These collaborations can take different forms, such as philanthropic, joint venture or research and development partnerships, and they can be used to achieve several different objectives including financial support for charities, the creation of new business entities and the development of new technologies.
Corporate partnerships can bring a huge range of benefits for businesses, including increased brand awareness and enhanced innovation. Additionally, these partnerships can also create positive social and environmental impact by supporting non-profit organizations and social causes, while promoting sustainable business practices.
Some of the world’s biggest companies partner with non-profits every year, and the most recognizable corporate partnerships include Target’s collaboration with UNICEF and Disney’s partnership with Together for Short Lives.
What Are The Benefits Of Corporate Partnerships?
Despite the huge successes of many global brands, for some non-profit organizations the idea of a corporate partnership can be intimidating, particularly due to concerns around conflicts of interest between profit-led companies and their non-profit counterparts. However, corporate and non-profit partnerships can bring a wide range of benefits for both parties involved, such as:
- Increased Impact: Non-profits can benefit from the corporate expertise, resources, and reach of big businesses, which can help them increase their impact and effectiveness.
- Access to Funding: Non-profits can also receive financial support from corporations, which can help them to sustain and grow their programs.
- Enhanced Brand Awareness: For corporations, partnerships with non-profits can help to raise their profile and improve their visibility by promoting their brand to new audiences.
- Improved Employee Engagement: Corporate-non-profit partnerships can help employees to feel more engaged and motivated, as they are able to participate in meaningful social impact initiatives.
- Increased Innovation: Non-profit organizations can bring new ideas and innovations to the table, which can help corporations to develop more impactful and sustainable products and services.
But what do corporate partnerships look like in the healthcare industry?
Case Study: A Deep Dive Into VR-Based Data Gathering
For many healthcare organizations, effective data gathering plays a vital role in the progression and advancement of facilities and treatment options, which is why Deutsche Telekom’s join-up with non-profit Alzheimer’s Research UK has made waves when it comes to corporate partnerships that have made a big impact. The two organizations created a Virtual Reality (VR) game, Sea Hero Quest, that generates data based on spatial navigation. The more users play, the more data that can be collected, and the reduction of resources that would be required to collect the very same data in a lab. Millions of players have taken part, and there is a bright future ahead for Sea Hero Quest, which has so far provided scientists with over 176 years’ worth of data based on traditional collection methods!
Case Study: An AI-Led Research Partnership For Parkinson’s
In recent years AI has become a talking point among companies across all industries, but some organizations have taken it a step further and used their corporate partnerships to drive its use for good. Parkinson’s UK, in collaboration with Cure Parkinson’s Trust, have since 2017 been conducting research using BenevolentAI, a private AI company that is helping the partnership discover entirely new treatments for Parkinson’s that have never been considered before – the pairing won the inaugural BenevolentAI Award and have been working together ever since.
What Does This Mean For SterileAware And Van der Stähl Scientific?
At SterileAware, we want our corporate partnerships to model some of the best qualities of businesses and not-for-profit organizations doing amazing work around the world. That’s why our collaboration with Van der Stähl Scientific has originated to help us expand on our mission to develop medical device packaging solutions that meet the growing demands of a rising global population. Approximately 99,000 people in the United States die of healthcare-associated infections every year, so our collaboration with Van der Stähl Scientific helps us to innovate with new technologies and increase the impact we have each day – we can’t wait to see where this partnership will take us in the years to come.