GPU-accelerated computing pioneer NVIDIA has received recognition as 2024’s Top Corporate Startup Star during the ninth edition of the Corporate Startup Stars (CSS) Awards which took place at ICC Global Headquarters in Paris last week. NVIDIA’s approach to open innovation proved to be a key driver of technological progress, especially in accelerated computing and artificial intelligence.
Organised by the International Chamber of Commerce (ICC) and Mind the Bridge, the Awards recognise global champions in open innovation.
Howard Wright, Vice-President of NVIDIA Inception said: “We’re working with more than 22,000 startups and 5 million developers worldwide to advance and democratise AI for the benefit of society. NVIDIA’s recognition as top Corporate Startup Star of 2024 underscores our ongoing work to build up and nurture the AI ecosystem.”
ICC Secretary General John W.H. Denton AO said:
“Innovation is a key driver of economic growth, and the awards exemplify the power of collaboration between corporates and startups, and the importance of fostering entrepreneurial ecosystems. ICC is honoured to host this annual celebration of global innovation.”
The Awards also comprised the second edition of the Startup Ecosystem Stars Awards. Together with 64 public and private organisations active in supporting innovation in their respective ecosystems, the awards recognised Yacine El-Mahdi Oualid, Algeria’s Minister of Knowledge Economy, Start-ups, and Micro-enterprises, for his visionary leadership in fostering innovation and entrepreneurial growth in Algeria and more broadly across Africa.
Philippe Tibi, Professor of Economics at France’s “Ecole Polytechnique” and President of the Executive and Technical Committees of the “Financement Scale-UP” project at the French Ministry of Economy, Finance, and Recovery delivered the keynote address.
He said:
“Innovation is the driving force behind global economic growth, and today’s Corporate Startup Stars and Startup Ecosystem Stars exemplify the power of collaboration, both between corporations and startups, and across ecosystems worldwide. Breakthrough innovation is frequently incarnated by hugely successful startups. We must also recognise that open innovation involving established companies and public-private collaboration, such as the initiatives we’re witnessing today, can also effectively scale innovation, channel private investment, and create sustainable growth across industries, unlock new pathways for economic transformation and lead the way in empowering the next generation of innovators.”
The Corporate Startup Stars Awards recognise trailblazing international companies in the area of corporate-startup collaboration, highlighting a spectrum of strategic innovative approaches ranging from venture client to corporate venture capital (CVC), from intrapreneurship and accelerators to corporate venture builders.
Alberto Onetti, Chairman of Mind the Bridge said:
“Open Innovation has finally become a cornerstone of corporate strategy, with 95% of corporations now embracing it. This shift reflects the growing need for companies to remain agile and competitive in the face of disruption. Established incumbents are particularly vulnerable to market shifts – only 41% of the companies on the current Fortune Global 500 list were present in 2000, highlighting the constant churn and the imperative to innovate.”
NVIDIA topped the ranking of 2024’s Top 100 corporations recognised for their exemplary open innovation practices, following in the footsteps of past winners such as Microsoft, Pfizer, Siemens and Mastercard.
Special Awards also acknowledged companies mastering specific models and pioneering new open innovation approaches as well as “Rising Stars” outside of the Fortune 500.
Jury member and ICC Executive Board member Candace Johnston said:
“The winners exemplify the creativity and resilience needed to tackle global challenges through innovation. They inspire all of us to think bigger and collaborate smarter.”
Visit the full list of award winners and Mind the Bridge’s ‘Open Innovation Imperative’ report on the Mind the Bridge website.
