- A large, global skin care and cosmetics company looking for “out-of-the-box” ideas to seed its innovation efforts.
- Previous engagements with OI services providers had resulted in a handful of interesting technologies, but the client felt that most were “variations on the same themes.” They wanted to bring new-to-the-industry products and services to market.
- The client was not interested in any products or technologies specifically targeted to the skin care and cosmetics industry.
- The product/technology value proposition needed to clearly demonstrate superiority to in-kind solutions.
yet2 Strategy and Role:
- Ran an internal contest to identify our “favorite, most interesting or most compelling technologies” from roughly 400 well-vetted DealFlow Opportunities (DFOs) in our Strategic DealFlow database.
- Consideration was NOT given to relevance for skin care/cosmetics or stage of development.
- Over the following three-months, 27 DFOs were presented to the client, representing a very diverse set of technologies across a very broad range of industries and geographies.
- Of those, seven were identified as interesting and four as “extremely interesting.”
- The four DFOs were in the areas of
- conductive (nano) particles
- a water purification method without chemicals, electricity, or pressure,
- an ultra-low power system on a chip
- Now in early collaboration discussions with 4 companies.