This is the first of a series of posts on how our customers in different verticals are working with Venture Scanner to power their innovation scouting efforts and identify trends and companies that could add strategic value. To honor confidentiality, in some cases the respective customer will be unnamed.
We begin with a global fashion retailer who was interested in learning about trends in retail personalization (both online and offline), discovering companies innovating in the space, and identifying a shortlist of companies to meet with to explore piloting their services.
Our process included:
Step 1: Creating a comprehensive landscape scan of the retail personalization sector and identifying major trends across companies.
Leveraging our database and technology, our analyst team identified 228 companies innovating in the retail personalization sector. The team then segmented the companies into 5 categories and enriched the data to build the sector landscape scan for retail personalization.
Analyzing the unique offerings across the companies scanned, we identified 3 major trends in retail personalization.
Step 2: Shortlisting companies based on data, insights, and the retailer’s unique needs.
After building a comprehensive landscape scan of the retail personalization sector and identifying the major trends across companies, we set off to shortlist the companies that should be highest on the retailer’s radar. We did so through an evaluation rubric that took into account our data, insights, and the retailer’s specific needs.
Through this process, we evaluated all 228 companies and we were able to narrow the field down to a shortlist of 10 companies that the retailer considered as candidates to meet with.
3. Connecting the retailer with selected companies.
After the shortlisting process was completed, the retailer selected companies they were interested in meeting with. Venture Scanner then arranged for the retailer and the selected companies to meet and begin exploratory discussions for pilots.
In the end, the Venture Scanner process enabled the retailer to feel confident with their innovation scouting process. They knew the full lay of the land, understood trends in the retail personalization sector, and found the partners best suited to their unique needs.
Venture Scanner enables corporations to research, identify, and connect with the most innovative technologies and companies. We do this through a unique combination of our platform, data, and analyst services. To learn more check out venturescanner.com or email [email protected].