NVIDIA is the new World’s Open Innovation Champion

Global champions in open innovation were unveiled today during the ninth edition of Corporate Startup Stars (CSS) Awards which took place at ICC Global Headquarters in Paris. Organized by the International Chamber of Commerce (ICC) and Mind the Bridge, the Awards recognized GPU-accelerated computing pioneer NVIDIA, as 2024’s Top Corporate Startup Star.

“Innovation is a key driver of economic growth, and today’s awards exemplify the power of collaboration between corporates and startups, and the importance of fostering entrepreneurial ecosystems – said John W.H. Denton AO, Secretary General, ICC – ICC is honored to host this annual celebration of global innovation.”

The celebration day also featured the second edition of the Startup Ecosystem Stars (SES) Awards. Together with 64 public and private organizations active in supporting innovation in their respective ecosystems, these awards recognizes 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 event’s keynote address.

“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. – Professor Philippe Tibi, commented – Breakthrough innovation is frequently incarnated by hugely successful startups. We must also recognize 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.”

2024 top 100 Corporate Startup Stars

Corporate Startup Stars Awards recognize 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. 

The 2024 Awards featured representation from 30 countries worldwide, (Europe 55% Asia 21% North America 12%, Latin America 5%, Middle East and Africa 3% and Oceania 1%).


“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”, said Alberto Onetti, Chairman, Mind the Bridge.

NVIDIA topped the ranking of 2024’s Top 100 corporations recognized for their exemplary open innovation practices, following in the footsteps of past winners such as Microsoft, Pfizer, Siemens, and Mastercard.

NVIDIA’s approach to open innovation proved to be a key driver of technological progress, especially in accelerated computing and artificial intelligence. The company supports the global startup ecosystem through NVIDIA Inception, a free program designed to nurture cutting-edge startups. Inception members receive key benefits, such as technical and training resources, access to NVIDIA experts, events and co-marketing, and opportunities to connect with venture capitalists. NVIDIA’s technology platform is being used to accelerate scientific research and innovation, and the company also collaborates with researchers, academics, and businesses to drive advancements in AI, healthcare, robotics, and other fields. 

“We’re working with more than 22,000 startups and 5 million developers worldwide to advance and democratize 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,” commented Howard Wright, VP of NVIDIA Inception at NVIDIA.

The top 100 awarded companies this year are: 3M, AB InBev, ABB, Acciona, Allianz, ArcelorMittal, ASML, AXA, Banco Santander, Barclays, BNP Paribas, Bosch, Caterpillar, Cemex, Citigroup, CocaCola, Commonwealth Bank Australia, Credicorp, Crédit Agricole, Danone, DB Schenker, Ecobank, E.ON, EDF Group, EDP Group, Enagás, EnBW, Enel, Engie, ENI, Equinor, Ericsson, Etisalat, ExxonMobil, Falabella, HDFC bank, Hitachi, Holcim, Honda Motor, HSBC, Huawei, Hyundai Motor, Industrial Bank of Korea, Intel, Itaú Unibanco, Japan Airlines, KDDI, KPN, L’Oréal, Lenovo Group, LG Electronics, Logitech, Lufthansam, Maersk Growth, Mahindra Group, Marks & Spencer, Mercedes-Benz, Michelin, MTN group, Munich Re (ERGO), Nestlé, Novo Nordisk, NTT Group, NVIDIA, Olam, Orange, PepsiCo, Petrobras, Petronas, POSCO, PTT Global Chemical Group, Repsol, SAIC Motor, Samsung, Saudi Aramco, Saudi Telecom Companyì, Schneider Electric, Shinhan Financial Group, SK, Sodexo, Sony, Standard Bank, Stellantis, Swiss Post, Swiss Re, TDK, Telefónica, Terna, Thales Alenia Space, Toshiba, TotalEnergies, UBS, Unilever, Vale, Vinci, Visa, Volkswagen Group, Volvo Group, Xiaomi, and Zurich Insurance Group. 

Special Awards also acknowledged companies that are mastering specific models and pioneering new open innovation approaches. They’re 3M, Acciona, Bosch, EDF Group, Japan Airlines, Maersk, Olam, Repsol, Sodexo, Stellantis, TDK, Unilever, and Volvo Group.

The Judging Committee named five companies “Rising Stars” outside of the group of Fortune 500. They’re A2A, Fluidra, Rehau, Sicredi, and Vusion Group.

“The winners today exemplify the creativity and resilience needed to tackle global challenges through innovation,” Candace Johnson, Executive Board Member, ICC, added – “They inspire all of us to think bigger and collaborate smarter.”

The Report

On the occasion of the CSS Awards, the new report “The Open Innovation Imperative: Adapting to Stay Competitive – Evolve or Be Extinct Season 2024” was presented by Mind the Bridge. The study highlights the emerging trends in open innovation based on an analysis of Fortune Global 500 companies. Key highlights include:


Open Innovation Trends:

• Only 41% of Fortune Global 500 companies from the year 2000 remain on the list today, showcasing the imperative for innovation to sustain market relevance.
• Only 42% of Fortune Global 500 companies have a comprehensive, holistic approach to Open Innovation, correlating with long-term market success.

Tools and Models:

• Venture Client: The most widely adopted Open Innovation tool, valued for its scalability and efficiency in delivering results.

• Corporate Venture Capital (CVC): 90% of Open Innovation Leaders engage in structured startup investments. Over 58% of CVCs operate with funds exceeding $250M, with significant growth in funds established post-2015.
• Intrapreneurship Programs: Evolving from employee engagement tools to platforms generating deal flow and integrating with Venture Builders.
• Startup M&As: A key Open Innovation strategy, with 76% of leaders engaging in acquisitions. European Fortune 500 firms acquire 1-2 startups annually, while Silicon Valley companies average 12-15.
• Corporate Accelerators are declining, with a shift towards hybrid models integrating CVC and Venture Client approaches.
• Corporate Venture Builders are gaining traction but require substantial resources to operate effectively.

Sector and Regional Insights:

• Industry leaders in Open Innovation include Automotive, Biotech, Life Sciences, and Telecommunications. Retail, Construction, and Oil & Gas sectors are beginning to catch up.

• Regional hubs: 50% of Fortune 500 companies have a presence in the Bay Area, and 28% in Israel. Emerging hotspots include the US East Coast, Singapore, and South Korea. Europe’s innovation leadership is led by London and Paris.

Challenges and Emerging Trends:

• Some challenges, such as Sustainability, Decarbonization, AI, Circularity, IT, and Digitalization, are cross-industry and impact virtually all sectors. Meanwhile, others are more industry-specific, such as those related to Health/Medtech, Energy, and Agtech.