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Scouting for Growth

Lens on Venture Scouting

Scouting for Growth

Sabine VdL

Business, Entrepreneurship

51.8K Ratings

🗓️ 1 January 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

On this episode, Sabine VdL defines what venture scouting, also called technology scouting means and why companies and investors see it as so important. She also discusses what skillsets a technology scout needs to succeed as well as what should motivate them and how these strategies are delivered.   KEY TAKEAWAYS In recent months companies around the globe have seen new types of challenges affecting them all, including: changing customer needs (such as the "I want it now" generation demanding reduced engagement friction); rising competition (This does not only means the fast-moving dominance of BigTech, but also the arrival of new digital market entrants.); and increasing market volatility (Think about bitcoins and other digital currencies that have fluctuated up and down). Many companies see it as essential to closely monitor developments in core technologies and scan for emerging technologies with disruptive potential. Methods here include technological forecasting, technology foresight and technology intelligence. The basis of technology scouting is about enhancing the insight provided on emerging and advanced technologies and lowering the time lag between technological advancement and detection, accelerating the potential delivery of unfair competitive advantages for any company. One of the biggest obstacles to innovation is often the regional limitations and the siloed way of thinking that exist in many corporations today. They know though that to remain competitive, they need to acquire valuable information on emerging technologies the earliest as possible.   BEST MOMENTS ‘Strong technological competence plays a crucial role in maintaining and improving a company's competitive position, regardless of business size.’ ‘In an environment impacted by technological complexity and the globalization of R&D activities, the successful identification, and usage of external sources of knowledge is becoming increasingly essential and primordial as part of a business success strategy.’ ‘Technology scouts require lateral thinking, knowledge in science and technology, a certain level of credibility, recognition within the company, cross-disciplinary orientation, creativity, and imagination.’ ‘Think about venture/technology scouting as an early warning system for companies to make better innovation choices.’   ABOUT THE HOST Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew, a venture lab that accelerates the curation, validation, & commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers & accelerating over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner.  Twitter: SabineVdL LinkedIn: Sabine VanderLinden Instagram: sabinevdLofficial Facebook: SabineVdLOfficial TikTok: sabinevdlofficial Email: [email protected] Website: www.sabinevdl.com

Transcript

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0:00.0

So welcome to this episode of Scouting for Growth. Let's spend a few moments to define what venture scouting needs.

0:24.2

Venture scouting is a crucial component in the ecosystem of innovation and investment,

0:30.1

connecting the dots between forward-thinking startups and corporate entities looking to invest in the next big thing.

0:37.4

You will therefore find as part of this

0:39.8

process venture scouts. They are individuals who perform an essential role by identifying

0:45.7

and vetting emerging companies with high growth potential. These individuals or teams often

0:52.7

come from diverse backgrounds but share a snack for recognizing

0:57.2

nascent technologies and market opportunities.

1:01.0

For investors and corporate venture capitalists, the insight provided by venture scouts

1:07.5

can offer a competitive age, allowing them to make informed decisions and to

1:13.8

allocate resources more efficiently to project that demonstrate the most promise.

1:20.5

The process of venture caskouting is a systematic approach to sourcing innovative startups.

1:31.2

Scouts screen the competitive landscape by assessing the viability, market potential and the strengths of the teams within those companies.

1:39.8

Acting on behalf of investors and corporate firms, scouts build relationships with startup founders

1:47.6

to understand their vision and product direction. Through effective technology scouting,

1:56.2

businesses can tap into disrupting innovations early on, benefiting from pioneering technologies that can lead

2:04.9

to significant returns on investment. Meanwhile, startup founders gain valuable connections and

2:13.2

the must-needed capital to propel their companies forward.

2:23.3

Successful implementation of venture scouting and technology scouting activities requires strategic planning, an expansive network,

2:29.3

and a thorough understanding of emerging market trends.

2:33.3

The most successful scouts leverage a blend of intuition and data-driven analysis

2:39.6

to identify tomorrow's leading technologies and to maintain effectiveness in this dynamic role.

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