The concepts of entrepreneurship and innovation have become more relevant during the recent years, specially within the corporate world. With the democratization of technologies such as the internet and computing power, the number of emergent and agile companies known as startups have been growing. These agile newcomers, which specialize in materializing innovations on a faster pace, pose both threats and opportunities for corporations. This thesis is an assessment of the current status of the programs corporations employ to both compete and/or form alliances with these startups within the context of digital transformations.