Innovation Scouts are the most important exec in a company today. By connecting with startups they help corporate innovation achieve real results across the business.

1. What is an Innovation Scout?
INTELLIGENCE DRIVEN INNOVATION
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The Corporate Innovation Scout sees the future business as it could be. He connects the dots of how the real
world works and what it will take to get his business in to the future. Market leadership is fleeting these days.
It’s hard to keep up with the rapid introduction of new business models and technologies.
Innovation Scouts find relevant Startups and learn from them. They engage young companies as a way to create
the future. They also look at longer horizons by assessing University IP and other research.

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Who Are They?
 Innovation Execs
 Product Execs
 Corporate Development
 Corporate R&D
 Strategy Directors
… Anyone with a bright idea

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What Do They Do For A
Company?
They often work as the team leader to source interesting startups or emerging technology.
They get consensus around specific topics or challenges the company needs to address.
They map markets, research, attend events, mentor startups and contact investors.
Most important the Innovation Scout translates ‘what could be’ when they spot an interesting new business or
Technology that could change the company’s trajectory.

5.  Innovation horizons are
shorter than ever
 Competitive advantage and
business models have
become transient
 Industries are being eaten
alive by smaller, faster
Startup players
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Why Do Corporations need
Innovation Scouts?
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6. • 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
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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

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Scouting Today?
Many Activities
Google Search
Attend Events
Hackathons
Run an Accelerator
Corporate Venture Group
Contact Investment Bank
Research Databases
Call My Buddy
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

8. Huge growth in Corporate Accelerator activity
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Corporate Accelerators
https://www.corporate-accelerators.net/database/index.html

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The Scouting Life Cycle
Problem
Definition
Scouting Startup
Assessment
Corporate Open Innovation Process
Get them engaged
Drop
Pilot
Watch
Launch

10. How to set up an Innovation Scout program in your
organization:
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How To? Innovation Scout
Most important to get alignment about what problems you are looking to solve.
Develop a Customer Journey Map for your business
Develop a Customer Journey Map for your biggest competitors
Find the gaps between the Customer Journey Maps
Use the Innovation Scout Canvas to get consensus about specific opportunity areas
Define criteria by which you will assess the strength and weakness of potential startup partners
Recognize that sometimes ‘open’, non-specific learning and exploring can be a ‘fire starter’ for relevant,
creative innovation.
Map startups within specific market areas.
Outreach to startups often, ask them to pitch you around a particular solution area

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12. Scout Explorer Engage Accelerate
Discover Engage Accelerate
Assess