Venadar’s External Innovation Process is built on the premise that serendipity should never drive execution of strategy. Venadar’s process is designed to source a large, customized database of entrepreneurial companies that fit our clients’ needs and opportunities from dozens of sources not open to Corporate America including member-only entrepreneurial organizations, entrepreneurial networks, private databases and more. Further, our research team uses our proprietary Market Intelligence and Competitive Analysis processes to source, validate and evaluate the information in the target databases that we build for our clients.

Our clients are typically surprised at the large number of companies of interest that Venadar can source. For example, one company had identified three targets that fit a specific brief. Venadar sourced 147 companies that fit the same brief. Another client had developed a list of 10–12 companies in a niche market. Venadar created a custom database of 541 companies. From these customized databases, we rigorously evaluate the target companies to develop a “Top 10” list of the best companies and products for consideration.

From the customized database, Venadar then thoroughly researches each of the companies to assess the desirability of the company as it relates to our client’s needs and the probability that our client and the entrepreneurial company will be able to form a successful relationship. This focuses our collective efforts on the most desirable opportunities that have the highest probability of success.