Every corporation has a version of 6 or 12 month planning outlining goals to be accomplished and an associated budget. Goals often highlight the need to fill a capability gap. Subject matter experts (SMEs) inside the corporation are very articulate about what exists today and what’s missing. Instead of spending time online or going to conferences to search with a vague idea of a solution, it’s more efficient for the SME to create a business use case and a reverse pitch.
The business use case is a description of the problem, the current state, the desired future state and possible solutions that have either been considered or already tried. The business use case creates structure for the challenge and provides the necessary background for the startups who are seeking to understand how they can help the corporation.
Because the reverse pitch is connected to a current need, the corporation is aligned and willing to discuss potential solutions, moving quickly to implement a proof of concept or even larger scale test.
Recently N³ Innovation posted a reverse pitch for a cutting edge sensor technology. Within the two week deadline, four viable startups responded and were available to discuss their offer in more detail. The startups saved business development cycles and the corporation saved time in research and sifting through hundreds of startups to find the few that are the best match for the business use case.
N³ Innovation’s mission is to help corporate clients create measurable enterprise value by inventing the future. Clients have generated millions of dollars of revenue in new markets, with new products and new technologies.
Want to learn more about a reverse pitch or business use case?