Brand Growth from Helping Startups

Image: Honeywell Sustainability Report

Corporate Challenge: Growing new market spaces by co-branding with startups

Ironbound Strategy: Align your brand with startups that create value for their customers, employees, and society.

Ironbound Action: North Carolina based Honeywell entered the building manufacturing marketspace by partnering with Nexii, an eco-friendly, near zero-waste, building panel startup.  A year ago Nexii built Starbucks’s most eco-friendly store in just 6 days, using sustainably derived concrete panels that assembled on-site like a puzzle.  Honeywell quickly moved to make a partnership with Nexii, to build their small and medium sized buildings, and help reduce Honeywell’s climate change impact.  Honeywell hopes to convince clients who use Honeywell efficiency products to convert their buildings using Nexii technology as well.  When a brand is committed to helping the environment, more of an impact can be made by teaming up with other brands on the same mission.

* Half of Honeywell’s R&D investment is directed towards positive social and environmental outcomes.  In the last FY, Honeywell’s expenditure on R&D was $1.3 Billion. 

​** Last FY, Honeywell posted $34.4B in sales, with $5.6B net income.
 
*** Honeywell’s building solutions sales have flatlined around $2.3B after it spun-off its nearly $4B Homes and Global Distribution segment in 2018/2019.