The Innovation Scout overview june 2017
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The Innovation Scout uses machine learning and big data to match corporate innovation opportunities with startups and other research IP.
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The Innovation Scout overview june 2017
- 1. The Innovation Scout INTELLIGENCE DRIVEN INNOVATION TM 0 Confidential & Proprietary Do Not Distribute Without Permission
- 2. Innovation horizons are shorter than ever Competitive advantage and business models have become transient Industries are being eaten alive by smaller, faster Startup players 1 The Problem Confidential & Proprietary Do Not Distribute Without Permission
- 3. 2 Innovate or Die 75% of the S&P 500 will be replaced by 2027 https://www.innosight.com/insight/creative-destruction-whips-through-corporate-america-an-innosight-executive-briefing-on- corporate-strategy/
- 4. • Over 180 Corporate Venture Groups and rising • Corporate Accelerators/Incubators on the rise • Corporates buying Startups to Gain Advantage: GM acquires Cruise Automotive a 30 person team Walmart acquires ModCloth AMD acquires Nitero Apple acquires Workflow Intel acquires MobileEye 3 Trend: Corporations Work With Startups to Compete https://techcrunch.com/tag/mergers-and-acquisitions/ https://dupress.deloitte.com/dup-us-en/focus/signals-for-strategists/corporate-accelerators-spurring-innovation-startups.htm Breaking Records, Enterprise Fundings are Up Nearly 80% in Q1 2017 – TechCrunch 4/17/17
- 5. 4 Scouting Today? Too Many Activities, Unfocused Results Google Search Attend Events Hackathons Run an Accelerator Corporate Venture Group Contact Investment Bank Research Databases Call My Buddy Expensive Consultants “We can’t find the best startups fast enough, it’s an overwhelming task” – MEC Global Scout “We work across divisions and need to find over 700 startups each year” –General Dynamics Innovation “There are so many startups that are competing with us out there that we’ve never heard of. It’s hard to find them.” – IGT Research & Dev Customer Pain Points Unstructured Scouting Activities
- 6. The Solution Machine Learning Finds Relevant Matches- FAST A Proprietary Matching Engine that connects Corporate Innovation Profiles with Startups and other Open IP 5Confidential & Proprietary Do Not Distribute Without Permission Relevant Startups Relevant Open IP/Rsh
- 7. Value Proposition We Expose the Full Potential Relevant Matches 6 Health Care / Virtual Reality
- 8. 7 How We Fit Scouting and Engagement: One Platform Phase 1 Phase 2 Problem Definition Scouting Prototype Launch Corporate Open Innovation Process Get them engaged faster
- 9. Profile MyScout Explorer Engage Accelerate Discover Engage Accelerate
- 10. Customer Targets 9 Confidential & Proprietary Do Not Distribute Without Permission Corporate Innovation Executives Product Executives Corporate Development Corporate Research & Development
- 11. 10 Professional My Scout Suggested Companies Explorer Unlimited views Tracking Newsletter $500/Mo Enterprise My Scout Suggested Companies Explorer Unlimited views Tracking Newsletter Consulting Services (20 hours professional) $1000/Mo 20% discount applied for Annual payments! Business Model: SaaS
- 12. Annual Revenue Number of Firms > - $2.5B 1348 $1B - $2.5B 1546 $500M - $1B 2404 $250M - $500M 4315 $100M - $250M 12,779 $75M - $100M 570,377 111. US Census Bureau $7.1B Market Size = 592,769 # of Companies x $12,000 Annual Subscription Target Addressable Market
- 13. Competitors 12*Innovation CRM and Consulting are also targeted as channel partners for us Platform to Manage Innovation Innovation Consulting Services Innovation Search Discovery Smart Matching with Innovation The Innovation Scout Database Crunchbase Angelist CB Insights Innovation CRM BrightIdea Spigit Consulting GetKite Imaginatik Innosight
- 14. Launch V1 13 December 2016 March July Sept Dec Milestones Launch MVP Provisional Patent Filed Customer Discover Launch V2 Collaboration Platform 20 Customers signed 2017 Close Seed Final Patent Filed May Chief Innovation Officer Summit San Francisco May 22-23 “Featured Startup” Oct
- 15. 14 The Team Annette Tonti Co-Founder & CEO Vernon Rauch Co-Founder & CTO • An executive with over 30 years of corporate and entrepreneurial experience. • Founder and CEO of 2 high-tech startups, raised over $30M venture & angel • Exec Producer, MIT Media Labs • Finalist, E&Y Entrepreneur of the year. 2011 Mobile Women to Watch • Over 30 years of corporate and entrepreneurial experience • Founder President & CTO MarketHound • CTO, VP Engineering WhyData • Raised $5M in seed and angel funding across 2 startups • Product leader with a deep understanding of emerging technologies • Associate Professor Computer Science and Statistics at the University of Rhode Island. • Author of the industry leading book “Knowledge Discovery with Support Vector Machines” published by Wiley. • Over 50 publications in the areas of programming languages, machine learning, and data mining. Lutz Hamel Professor URI Machine Learning & Big Data Architect
- 16. Raise 15 $500,000 Convertible Promissory Note(s) as part of a $2M total Raise Maturity Date: July 31, 2021 Note 1A +20% benefit upon conversion Interest: 8% per annum Cap: $3M
- 17. PROPRIETARY AND CONFIDENTIAL INFORMATION NOT TO BE SHARED THE START EXCHANGE, INC 16 Annette Tonti atonti@theinnovationscout.com www.theinnovationscout.com
Notes de l'éditeur
- In the past 15 years 52% of the companies on the S&P 500 are gone. Innovation horizons are shorter than ever, competitive advantage is fleeting Startups are eating whole industries alive! A business needs to develop and manage a “portfolio” of potential “advantages” in order to survive. Supporting evidence We have to be looking at around 700 companies each year in order to keep up with the trends most important to us.” - Executive Director Innovation, General Dynamics
- How do people go about finding innovations today? This is really a mess. It is a hodge podge of non-scientific discovery. Then the internal management, back and forth of information. This area is begging for adding ‘intelligent’ discovery based on my corporate goals and priorities. To show them how the problem we just told them about is being handled today
- Engineered to find the longer tail of opportunities. Earlier, with bigger upside potential.
- How do we make money
- How big could this be.. What market are you addressing. We are focued initially In the US. The data shows us that if you are looking at the low of $75M annual rev up to over $2.5B you have close o 600K companies. When you multiply by our $12K a year that is over a $7B potential here in the US>