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Andrew Romeo welcomes listeners to the DevReady Podcast for a deep dive into corporate innovation, open innovation strategy, and how startups and enterprises can work together more effectively. In this episode, Andrew is joined by Spiro El Khoury, Head of Growth (Australia) and founding team member at The Bakery, as well as a mentor at Startmate. Spiro shares insights from his journey into the innovation ecosystem, spanning corporate venturing, startup mentorship, and building stronger innovation pathways in Australia. Topics Covered • Corporate innovation strategy and long-term execution • Open innovation and accessing ideas beyond internal teams • The Bakery’s approach to corporate venturing and innovation programs • Scaling beyond proof of concept and avoiding innovation pilot failure • Venture client models and partnering with high-growth startups • Startup mentorship through Startmate and Launch Club • Navigating corporate procurement, risk, and decision-making cycles • Building traction and trust for startups selling into enterprises • Strengthening Australia’s innovation ecosystem through education and community Important Time Stamps • From Lebanon to Australia: Spiro’s Unexpected Innovation Journey (0:31 – 4:56) • Why Corporate Innovation Fails Without Execution (4:57 – 12:30) • Why Corporate Procurement Slows Innovation Down (12:31 – 15:47) • Open Innovation Explained: Why Corporates Must Look Outside Their Walls (15:48 – 21:30) • Why Proof of Concept Is Easy, but Scaling Innovation Is Hard (21:31 – 27:55) • Why Corporates Want Innovation, But Not Startup Risk (27:56 – 35:03) • Why Australia Struggles With Corporate Innovation Education (35:04 – 39:33) Connect with Spiro Spiro El Khoury | LinkedIn: / spiroelkhoury The Bakery | LinkedIn: / thebakeryglobal The Bakery | Website: https://thebakery.com/ Startmate | LinkedIn: / startmate Startmate | Website: https://www.startmate.com/ Follow & Subscribe to the DevReady Podcast Facebook: / aeriontech LinkedIn: / aerion-technologies Instagram: / aeriontech Apple Podcast: https://apple.co/36XdTFQ Spotify: https://spoti.fi/2uaqDvt