Cornerstone Project becomes the first formal KnockNOW project.
Old System of Capital
The mission of the Cornerstone Project is to find the decision makers who are responsible for acquiring technology within a corporation. Unfortunately, this process is not as simple at it might seem as these decision makers are found at all levels and may be responsible for a multitude of other activities within that organization.
It is the job of Cornerstone to not only find these decision makers, but to determine what their role and responsibilities are regarding this decision process. We also want to know what are the “business drivers” for technology acquisition and their main areas of technology focus and concern. We will also collect information regarding their stance or interest in Partnering (pop up window with definitions in it) with Early Stage Corporations. As a further resource, we intend to determine their personal experience with startups, both to develop a resource pool of executives for our entrepreneurs and to ensure that technology companies do not err in their approach to organizations.
We will also determine at what stage and to what degree they wish to deal with technology companies. For example; do the want to partner, form an alliance, merge into a strategic partnership, or acquire? Are they looking for very early stage (alpha), test product (beta), purchase or use a completed product (vendor)?
A further interest will involve whether there is a in interest in the personal involvement or of high level executive decision makers with regard to angel investing, advisory positions, board seats, or mentoring, for these early stage technology corporations.
The result will be that Cornerstone will develop a database of those corporate decision-makers responsible for any dealflow inside their organization, the type of technology they are looking for, and at what stage in business’s development they feel most comfortable partnering with a tech company.
Meanwhile, we will also be collecting a listing of the tech companies, their technology and at what stage in the business development process they are in.
Therefore, by identifying these key drivers indicated by the interviewed corporations, and the stages and maturity of the local tech companies, KnockNOW, through the Cornerstone’s database, will then be able to source local technology companies that meet the criteria to these corporations. In essence, we will act as the “matching service” between the two, acting as a filter for both business and tech – so that neither wastes the other’s time (much like a professional search firm works).
By inverting the process and focusing on creating customers within early stage companies, the credibility and capital needed to expand should justly follow.