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. 

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