What does a Startup Scout do?

According to KfW, there are over 70,000 startups in Germany alone. And after the end of the challenging Corona period, their number is even increasing. – Finding the best cooperation partner among this large selection is usually extremely difficult for established companies – but also extremely rewarding! A Startup Scout accompanies companies with advice and support in their search and, as an experienced specialist, shows them the way through the “startup ecosystem”.

Definition: Startup Scout 

A Startup Scout works at the interface between startups and established companies. He specializes in finding suitable startups to solve specific problems. This means that he not only knows many startups and has an overview of current trends and developments, but also has the methodological knowledge and the necessary tools to identify the best possible partner depending on the request.
In addition, a Startup Scout has extensive experience in working with startups. This enables them to make an initial assessment of whether a young company can be trusted to establish itself further on the market and scale its offerings. Not only the respective ideas and products are relevant, but also the attitude and competence of the founders as well as many other factors.

Startup Scouting always pursues the goal of finding suitable startups for a specific concern. This can be a cooperation as well as an investment or pure market research. At Ambivation, established companies can especially make use of Startup Scouting if they want to drive innovations and are looking for external partners from the startup scene for this purpose.

Tasks of a Startup Scout

1. startup market monitoring

Regardless of specific assignments, one of the most important tasks is to find out about new startups and developments on a daily basis. No Startup Scout can know all startups. But he is able to get an overview of startups in specific industries within a short time on request and to realistically assess their relevance for the respective client.

2. target definition
Innovation – yes, but how? Often, companies that want to drive change and are interested in cooperating with startups already know roughly what result they expect, but not yet how to get there. A Startup Scout helps them define needs, goals and subgoals so that the search for a partner can be systematic and ultimately successful.

3. startup screening

A Startup Screening comprises the systematic search for startups as well as their initial evaluation with regard to whether they are capable of solving a specific problem. In doing so, a Startup Scout uses the software tools (e.g. with the startup scouting software Coopsaas), databases (own or commercial from third parties) at his disposal and his personal network.

4. execution of campaigns, startup challenges and pitches

Especially for scouting assignments that cover broader topics, it can make sense not only to actively search for startups, but also to initiate national or international campaigns where interested startups come forward. In this way, the Startup Scout and the interested company sometimes gain insights into topics and solutions that they may not have originally thought of. In addition, a Startup Call or a Startup Challenge (link to platform), for example, help to find founders from the outset who are actually interested in cooperation.

5. implementation of startup tours

Cooperation between startups and established companies can be particularly successful if both sides are aware of common goals, but also of different approaches or corporate cultures.

To this end, Startup Scouts can organize startup tours to young companies in specific cities and industries for executives. This not only gives players from established companies the opportunity to get to know founders and their teams, but also gives them insights into their environment and everyday life. As a result, mutual understanding grows and possible “cultural differences” in cooperation can be overcome more easily.

6. evaluation and selection

No Startup Scouting without evaluation! – In his interface role, the Startup Scout is able to filter relevant data from a multitude of information and prepare it clearly for the client. The evaluation is not only based on the product, but also on age, experience, existing references of the startups and often many other factors. At Ambivation, for example, clients receive a clear list of startup partners after the screening process that are worth considering for a closer acquaintance.

7. networking

Once a suitable startup has been found, this does not guarantee that the collaboration will actually take place. Successful startups in particular are sought-after cooperation partners and can partly choose who they want to work with. A good startup scout therefore facilitates an initial meeting with a lot of tact. This can happen in the context of an official meeting or quite informally on the fringe of an event.

8. startup matchmaking

It’s a match! If both sides agree, the cooperation can start successfully. Depending on the needs, a Startup Scout can continue to provide mediating support. Through his deep understanding of the perspectives of both sides, he succeeds in pointing out synergies, eliminating possible concerns and overcoming cultural hurdles together with all involved actors.

How do I recognize a competent Startup Scout?

The term Startup Scout is not protected. In principle, anyone can call themselves a Startup Scout and offer corresponding services. In this respect, it is particularly important for interested companies to find out about the experience and methods of their scout.
At Ambivation, only specialists with extensive, multi-year experience in the field of Startup Scouting advise established companies in their search for suitable partners for Innnovation.
Are you looking for a new employee as a Startup Scout or are you looking for an external partner as a Startup Scout? We look forward to hearing from you and will be happy to support you in your search for a Startup Scout or in setting up your Startup Scouting activities.