THE MOONBEAM TEAM HAS SPENT YEARS IN CORPORATE VENTURE AND CORPORATE INNOVATION…THE CURRENT MODEL for Tech Scouting DOESN’T WORK.
It started in a disjoint swirl of industry professionals, working in Corporate America, knowing that their organizations were not structure to be agile enough to move at the pace of innovation. But they understood that to change the economy, startup agility and the power of disruption needed to scale beyond the technology industry, into incumbent industries. From this realization, Moonbeam was born.
TECHNOLOGY SCOUTING IS SERENDIPITOUS and Returns are hard to measure.
Corporations compete to get brash, entrepreneurial talent to bring fresh ideas to their staid brands. They open innovation labs in Silicon Valley to be where the action is. Technology scouts network and find promising companies to connect with product line owners, only to find progress to slow or the focus of the startup misaligned with corporate need. And, in the worst case, the promising talent leaves the corporation to go work for the startup.
STARTUPS AVOID ENTERPRISES BECAUSE THEY ARE TOO HARD TO SELL TO.
Emerging technology startups often attempt to go straight to consumer markets because they view enterprise sales as too time consuming. Many Venture Capitalist view enterprise focused startups as unlikely to achieve a 7-10 year exit, largely due to challenges enterprises face around tech adoption, particularly in risk-adverse industries.
ENERGY IS WASTED ON BUSINESSES THAT DON’T FIT WITH EACH OTHER AND DIAMONDS IN THE ROUGH ARE OVERLOOKED.
For a startup, focus is essential and misdirection costly. Time spent selling to a enterprise that is not a fit can sink a startup. Likewise a corporate innovation lab that does not produce quarterly or annual value can loose sponsorship. They need tools to organize serendipity. Further, they need to be able to have strategic and creative conversations irrespective of geographic separation.