Keeping track of start-ups has become an integral part of operating any business.
It began with looking at trends. And discovering start-ups' ideas, tech, and solutions at incubators and accelerators.
Today, information on start-ups has democratized. And the emphasis is expanding to deal flow for goals like new domain entry, technology upgrading, and product diversification. With or without equity investment.
There are many formats these partnerships can take. And we know firsthand that reviewing start-ups is time-intensive and fraught with uncertainty.
A structured assessment process to build up opportunity intelligence then proves helpful.
In traditional due diligence, you center on market factors and financial analysis. And you're keying in on known industry benchmarks.
With opportunity intelligence, you take an extra step by checking and ascertaining 'mutual fit,' which is two-sided and contextual.
It's a meaningful attempt to forecast the power of collaborating – and not just to examine the start-up's assets. Plus clarifying issues that might block getting serious outcomes, including:
1: Alignment. Is there a clear win-win? Is there agreement on the governance, success measurement and operational aspects of working together?
2: Relationship. Do both sides like and trust each other? Can they put their competitive instinct aside? What does their gut say?
3: Commitment. Will both sides free up resources? Is there a simple and compelling narrative that anyone can understand?
Using Scoutely's Templates, corporate venturing, R&D, and (open) innovation teams build up opportunity intelligence with flexibility and automation.
Many tools focus on the easy part: "Let's find start-ups. And process these in a spreadsheet or Kanban-like style."
The hard part is: "How do we involve others in our organization in the evaluation process? How do we decide on an opportunity without running into fights?"
That's where Scoutely makes a difference.
We’d be happy to show you how we can help you scale your deal flow process.