Selection of startups.

We have helped one of the biggest pharma-sector company in the world to assess startups and choose best ones for further collaboration.

We have helped one of the biggest pharma-sector companies in the world to assess startups for CEE market, selected directly by the head office. We were asked to verify the recommended list of partners and to select the most suitable one.

Our customer, one of the biggest chemical concerns in the world (Top 50 Global Company List) received the list of five startups recommended by the head office to work with in order to select the best of them. The innovation team of the company requested our help in the process of assessing and selecting the best innovator to support the company in reaching the pharmacy clients and achieving specified, business goals in that segment (KPI).

1. Assesment

When doing this, you need to use the right tools.

In order to compare the recommended startups and define differences we needed to look at them on many different levels. To do so we used: Business Model Canvas, KPIs Set, Conversion Funnels Analysis, Intellectual Property Analysis and Validation Board. We held several workshop meetings with the management board of the corporation and senior managers of the company in CEE region to conduct detailed analysis of the recommended partners.

Our meeting agendas were constructed so to enable comparison and finding the common denominator for the final, post‑workshop conclusions.

2. Shortlist

First, we have selected two startups having the best synergy with the company.

Then we engaged ourselves in the set of almost 30 meetings with the separate business units of the company. Together we compared the value of startups’ offer (one of the key elements of Business Model Canvas), verified tractions of these startups, their client conversion efficiency and churn rate, flexibility and patent‑related ability, as well as similarity of their KPIs and the corporation KPIs.

3. Selection

The startup that met all the requirements.

The comprehensive and thorough verification process allowed to select the startup, which helped the corporation in CEE region to:

  • design innovative business offer for pharmacies and their clients,
  • facilitate the process of acquiring data from pharmacies and the process of reporting (lower costs of obtaining such data by using digital sources and quitting presently held telemarketing actions),
  • combine medicine-related offers in a more intelligent way and to indicate replacement more efficiently — the process was automated,
  • ensure protection of personal data being in the corporation’s possession (use of startup’s methods) according to the corporate governance rules.

See also:

TOP 50 Global Company
Innovation Scouting
Corporate Accelerators
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