Search & Evaluation
Search and Evaluation (S&E) is often considered part of larger, more acquisitive organizations. It is, however, a function that is worth building into your early-stage company. Whether you’re seeking the core technology for your next venture, searching for bolt-on capabilities, or positioning vs. the competition, a thoughtful and efficient S&E function provides intelligence… and there’s no such thing as too much intelligence.
S&E is the process of continuously scanning your domain(s) of interest and identifying and evaluating potential partners and competitors. Networking, conferences, databases, patent filings, academic literature, and even internet searches are all places where potentially helpful or competitive innovation may be found. Evaluating what you find against your goals, the market, and the clinical criteria you’ve previously elucidated will enable you to quickly separate the wheat from the chaff.
As soon as you have a strategy (or even a clinical indication) defined for your business.
If you know you need more innovation in your business, a robust S&E function should accompany (or entirely supplant) internal efforts. If you’re concerned about competition, and you’re always concerned about competition, S&E gives you eyes and ears. When you’re positioning for an exit, it really helps to know what other options your potential partners have, and what options you might have to add significant value by bolting on a synergistic innovation.
How and where to search, and how to efficiently evaluate, a pipeline of opportunities.