Information for Tech Applicants
Information for Applicant Companies
Technology companies are invited to apply for the Global Corporate Venturing Tech Scout Challenge, a rare opportunity to pitch to a room full of 80 of the world's leading corporate venture capitalists representing over $500m of investment funds. This is your opportunity to meet potential strategic partners and investors to help you take your business to the next level.
Applications are submitted online and reviewed/scored by experts. The resulting documents are available in a database accessible to customers looking for these technologies, and to investors. The 14 top scoring companies are invited to pitch to investors at the Tech Scout Challenge in London on May 14 2012.
HIGH ROI OPPORTUNITY FOR SEVERAL HOURS OF TIME: Innovators (Applicants) represent startups as well as growing and more mature companies with cyber, IT and energy technologies. The modest time investment submitting produces a very high ROI with exposure to a number of qualified customers in several federal markets and multiple private sector industries (average time to complete the initial forms is 1-1.5 hours and totals 2-3 hours over several months if interest is high). Most of this exposure is with a prospective customer(s) or investor(s) that the Applicant did not have access to at the right levels, if at all.
VALUABLE FEEDBACK: Innovators also receive feedback from the Reviewers as to the company's competitive insulation and technology uniqueness, scalability, fundability and more. For the younger companies this can be invaluable and help shape strategy going forward. For the small but established firms this provides market validation in new markets and qualified new sales opportunities with nominal effort.
NEW GOVERNMENT MARKETS: For Applicants not selling to the U.S. "security or government" markets, participation allows them to more efficiently and effectively test these new markets, which might be very receptive to adopt a technology currently used in non-security or non-government applications for a "dual use".
NEW QUALIFIED TRANSACTION PARTNERS: The GCV Challenge increases Applicants' exposure and resulting sales/relationship opportunities (sales contracts, teaming, licensing, joint venture, sales channel or, merger or acquisition) with the customers and enablers (advisors, directorships, investors, and sponsors) in the GCV and ASC community.
RE-USABLE PDFS: Applicants can log into the system at any time (except during review periods) and update/generate the PDFs which are frequently re-used and distributed by Applicants to prospective investors, customers, board members, etc.
YEAR ROUND EXPOSURE: Corporate Clients and Sponsors access the database well after the initial event seeking technologies in new areas or tracking the progress of interesting companies that didn't match initial criteria but are kept on the radar screen for updates. Additionally, new Clients/Sponsors are subscribed at different parts of the year that have not seen any of the companies in the database. Relationship opportunities are not a one-time thing.
NO NEED TO REBUILD FORMS: Applicants may choose to participate in other programs that use the TechMATCH system in which case they will not have to rebuild their form saving time and maintaining a consistent message.
"The process was streamlined and we are thrilled with the qualified sales and investor prospects that resulted from the Challenge. We have a great product and this (ASC) exponentially increased our exposure to valuable transaction candidates."
2012 INSA Challenger
"We were absolutely amazed; the benefits have been fantastic. We ended up actively pursuing relationships with seven companies. That's a phenomenal win for us...and really pays tribute to the veracity of the American Security Challenge."
Raytheon, Award Partner
What Sorts of Companies Should Apply?
Technologies will provide solutions to one or more of the following industry sectors:
We are looking for innovative companies seeking investment and customers with technology solutions in the following area (examples):
- Cyber Security
- Security of internal/external networks and devices
- Information assurance
- Identity management and authentication of users/devices
- Data mining, visualization, and analysis
- High performance and cloud computing
- IT Hardware and Software
- Physical security, sensors, biometrics, asset tracking, access controls and surveillance
- Modelling simulation and gaming
- Asset tracking
- High performance computing, storage, and distribution
- Transportation/shipping security and technologies
- Social/digital media and mobile apps
· Mobile apps
· Social media programming tools
· Mobile advertising
· Mobile games and entertainment
- Navigation and location based technologies
- Advanced software
- Advanced hardware
- Increased security and online convenience/experience for customers
- Technology for financial services
- Vehicle fuel or building energy conservation technologies to lower operating costs
- Cleantech, renewable and scavenging energy innovations
- Fuel cell and battery technologies
- Alternative fuels including algae, biomass, ethanol, hydrogen, etc
- Water purification
Innovative tech companies register for the GCV Challenge by first going to the SHOPPING CART, paying a fee of $89 and then to https://gcv.americansecuritychallenge.com/ to provide submission information on the TechMATCH system (a submission, screening and selection portal). Non-confidential information is collected that provides an efficient profile of the company, its technology and customer applications. Information is initially collected on two forms providing a streamlined process. Information from these two forms is exported into three standardized one page documents: an Executive Summary, a Profile and a Quad Chart. Most if not all of this information can be entered very quickly while the balance can be cut/pasted from other existing documents in the Applicants possession. Submission deadline is midnight April 20, 2012.
These three one pagers are provided to Reviewers with the most relevant industry/technical expertise from the panel of over 100 experts. Reviewer teams are assembled for each Applicant with a cross section of expertise providing business, technical, military, civilian, industry, customer, financial and entrepreneur perspectives for a well-rounded review rather a typical groupthink scoring that occurs from just one or two viewpoints.
These Reviewers use a proprietary scoring methodology with criteria that examines the technology's uniqueness, value to the customer, scalability, competitive insulation as well as company stability and management. Reviewer scores and comments are provided back to the Applicants providing meaningful business, market and technical feedback. Completion of the first round reviews is scheduled for April 29, 2012.
The higher scoring Applicants are then invited to submit more detailed (still non-proprietary) by uploading their choice of business plan, patents, white papers, financials, use/case studies, capabilities statements, investor slide decks, customer presentations, market studies, and/or marketing materials for evaluation by a different Reviewer team. Information for the second round will be submitted between April 30 and May 5th, 2012 and will be reviewed by May 11th.
Note that the highest scoring Applicants are invited to present their technology/company at the Tech Scout Challenge portion of the Global Corporate Venturing Symposium in London May 14 and 15. This invitation only conference will be attended by an estimated 60 - 70 Corporate Venture Capital professionals from Fortune 500 companies from around the world. The £750 conference admission fee (approx. $1200) will be waived.
After the 2nd round of reviews, the top scoring companies are referred to ASC and GCV Corporate Clients and Sponsors with interests in specific technology and business areas. For instance, Client #1 would be introduced to the top Challengers in their interest areas that might include data mining and network security. Sponsor #2 would be introduced to the top Challengers in their interest areas that might include social media and mobile apps. Client #3 would be introduced to the top Challengers in their interest areas that might include battery technologies and energy saving technologies for vehicle and buildings. Client #4 would be introduced to the top Challengers in their interest areas that might include high speed processing and data storage.
Applicants should continue to update their records in the system as these and other Clients/Sponsors will continue to access the Applicants database throughout the year. Clients/Sponsors can track the progress of companies that might not match their criteria today, but might in a few months. Clients/Sponsors will track different Applicants of interest as they update the database to reflect the completion of new products, land blue chip customers, obtain outside capital, or sell their business.
To Sign Up
Go here. http://shop.americansecuritychallenge.com/product.sc?productId=31. You will be asked to pay a fee of $89 and complete the online submission process here:https://gcv.americansecuritychallenge.com/. Companies selected to present in London will receive a free place at the Corporate Venturing Symposium on May 15th but will be responsible for their own travel and accommodation expenses.