With the rapidly changing energy sector, both the push for innovation and the market for emerging technologies and startups is creating an environment that is both volatile and full of opportunities—if you know how to navigate the surplus of data to find those hidden gems.
In this fictionalized use case, we look at this real-world challenge and illustrate how our platform can provide a simple and intuitive solution for using our platform to sort, discover, and track potential candidates for various innovation initiatives.
Old fashion manual labor
The first and arguably the most common option for search for startups is through manual labor—more specifically, hiring a team or agency responsible for scouting through the hundreds if not thousands of potential startups around the globe.
[Related Article - Platform in Action: Energy Management]
Allocating resources to a team or agency to be on the active hunt for startups requires additional budget and resources as well as time to align innovation initiatives with various departments within an organization. While this route is probably the most widespread amongst corporations, it is laborious and not without challenges.
One of the most significant challenges for most teams is a lack of aggregated startup information, which leaves them parsing information from online sources. In this case, there is often a lack of important information about companies, such as their funding stage, growth, maturity, and other markers of success.
However, that lack of aggregate startup data does not exist on our platform, which is fed by an ever-expanding database of over 500,000 startups from all around the globe—spanning a multitude of industries and markets. So with just a few clicks, a single person could find numerous startup candidates within a fraction of the time.
When inside our platform, if you are already aware of the industry and possible sub-industry that you are scouting for, then our Cluster Map feature will allow you to get an overview of what you’re looking for. This is done by color-coding companies by sub-industry inside the cluster map and ultimately visualizes where sub-industries intersect.
You can find targets, add them to a Radar, and even request a bespoke report on those particular companies—which will be researched and compiled by our in-house team of analysts.
While the use case that we talked about in the video for this article is entirely fictional, it was used to illustrate how easy it is to free up time and resources to hunt down new innovative companies.