Have the best of both worlds - agility and infrastructure. When you build a solution externally, you move fast like a startup backed by the resources of a multinational corporation.
Position yourself within SOSA’s network of VC’s, academia, industry leaders and multinational corporations. Become a center of gravity for entrepreneurs that will lead the next unicorn and widen your reach of top talent.
Building a solution from the ground up not only means you can refine, define, and ensure it’s a game-changing tool for your industry, but it also means you're the first to benefit from its success.
Backed by extensive research - we map, identify, and prioritize strategic growth opportunities for your organization. We define key focus areas based on your corporate strategy and market insights - setting the ground for the new ventures.
Next up - the program’s corporate champions, SOSA, and industry leaders come together to determine the opportunities within the focus areas, and decide which ideas will be taken into realization. According to this decision, SOSA’s innovation team scouts and vets potential founders and presents them to the selection committee. Founders are then chosen to carry out the ventures.
For each selected opportunity, the founders and SOSA’s team conduct extensive market research, customer interviews, and identify potential incubation partners and target markets. The research findings are presented to the corporate steering committee who will provide their feedback on the venture’s potential to scale. Together with the steering committee we decide on Go/No Go for each opportunity. The chosen opportunities move into the incubation stage with their assigned founders.
Together with the founder, we establish the company’s infrastructure and lay the groundwork for success. This includes recruiting key team members and nominating a board of directors. We develop a business plan, action plan, and work to close seed round investment.
This is when the venture team starts working on designing and building an MVP. Backed by data-driven validation and based on pre-defined KPIs and customer feedback, the MVP undergoes testing and refinements. Once the MVP is built, the product enters a pilot stage in the pre-selected business units within the corporation. The venture team develops a growth plan and prepares for the next fundraising round.
Congrats. You’ve just built a new company. This is where you venture out on your own. SOSA’s analysts, scouting team and open innovation experts will always be a phone call away, to help with any challenges that come along.