SCOUTING & SOURCING
It can be a difficult task to find that interesting idea or startup inside or outside your company. And if you found that idea or startup it’s not to say if it can be successful. BW Ventures makes scouting and sourcing startups and ideas an intricate part of your innovation or investment funnel.
BW Ventures aligns your innovation & investment strategy with your portfolio by:
- Finding the right ideas and startups;
- Testing the fit with the innovation or investment strategy;
- Build understanding around a preliminary PLAN A to understand assumptions and caveats, the traction model, the team skills and vision, the stage in the validation process, etc.;
- Contracting & due diligence;
Our Scouting & Sourcing program
We structure the activities required to scout the right startups or dig-up the awesome ideas from within the company
Startup quick scan
Before investing too much time and money in a startup that won’t fly let us unearth the potential through some rigorous testing
Internal ideas that are not there yet need a little push in the right direction. Together we structure the process to set the first steps.
We kick off an investment committee to make the decision about which startup to invest in or what idea is worth pursuing.
Contracting & Due diligence
Conduct administrative and legal due diligence research and formalize the company’s participation in the startup.
Phase 1. Scouting
The startup landscape can be a big place if you’re looking for the right startup to invest in. Similarly, ideas have a tendency to be really at hiding in large organizations. Together we structure your scouting process to make sure the ideas and startups are found and ready to be validated. We do this by:
- By using our ecosystem of startups or creating a bespoke internal ecosystem to land your internal ideas;
- By creating outreach campaigns and traction models to keep startups and ideas coming to you;
- Not by implementing an idea-box, but together we will make sure internal ideas can land on fertile ground;
Phase 2. Exploration
‘Enthusiasm for an idea’ is often not the best advice whether or not you should invest in an idea or startup. In this phase, we will gather data, data, and more data. To do this we’ve aligned tooling for you to get the right data above the table. For example, to understand the people behind the idea we use a Cognisess test.
Phase 3. Selection
In phase 3, an investment committee will determine whether to continue investing in the idea. Using all startup/idea data we:
- Check if it aligns with the company’s innovation strategy
- Check if it aligns with the innovation portfolio goals
- Start administrative and legal due diligence
- Start contracting
It can be challenging starting your innovation funnel
Are you wondering how to start to gather ideas from within your organization?
Do you find it difficult to keep your innovation/investment funnel filled?
Having trouble getting in touch with the right startups to invest in?
What information do I need to make a go or no-go decision?
Who should be in charge of selecting startups?
How do I foster ideas that are not ready for a program?