With the startup world so fragmented, how should you as a corporate innovation scout approach it?
Our research process focuses on organizing the chaotic startup landscape into sector reports (such as Financial Technology) comprised of smaller functional categories (like Business Lending, Consumer Lending, and Retail Investing). Each category is in a different state of innovation and thus requires its own game plan.
We have developed the Venture Scanner Innovation Quadrant to act as a framework to guide you in the startup scouting process. Our Innovation Quadrant organizes categories into four states of innovation by plotting the sector categories on two axes. One axis uses average age to show maturity. The other uses average funding to give a sense of traction. These scores are then normalized to draw out distinctions. Knowing which quadrant each category sits in our Innovation Quadrant will help in developing your scouting strategy.
As an example, here is our Financial...