The Most Overlooked Skill in Corporate Innovation

Scott Lenet – Based on my experience with over 100 transactions in venture capital, M&A, and business development, I believe there are five basic activities in the life cycle of most corporate innovation deals: 1. sourcing (find deals), 2. evaluating (diligence deals), 3. transacting (close deals), 4. managing (make deals successful), 5. exiting (get a financial return from deals).

Many corporate innovation executives launching new programs focus on the immediate task at hand: sourcing and evaluating opportunities. This makes intuitive sense, because you can’t close the deals you don’t see. At the beginning of a program, there is probably no deal flow yet, so innovation professionals focus on how to see opportunities and decide if they are good.

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