Novo Nordisk, a global leader in pharmaceuticals, is renowned for its groundbreaking work in diabetes care and other therapeutic areas. But staying ahead in the ever-evolving medical landscape demands constant innovation. That's why they launched their Open Innovation initiative, a dedicated team tasked with propelling scientific and medical advancements.
Novo Nordisk's team, spread across Europe and America, has a critical mission: identify promising startups, forge strategic partnerships, and spearhead long-term research projects.
The future of Novo Nordisk depends powerfully on what his team does. And no punches can be pulled as they map entire sectors and industries to uncover the next groundbreaking opportunity.
Novo Nordisk's team rely on a mix of traditional methods—databases, personal connections, and partner referrals—but these approaches have limitations. Finding companies as early and efficiently as possible without missing out on potential opportunities is a constant (and growing) concern—too much time is being spent manually sifting through data and struggling to discover hidden gems throughout the noise.
“FounderNest helped us discover the hidden 20%—opportunities we would have never found otherwise. We can now map 100% of a space in record time.”
Identifying all the opportunities in a sector or industry is not a job that a team can do alone. It requires deep knowledge about an industry. From important technologies and big players to keywords and industry-specific publications, it’s a lot for anyone to get a grasp on.
Here’s where AI and NLP come in. Rather than spending countless hours mapping the key players, companies, technologies, and words in each industry, the team can use FounderNest to cut out the noise and fully map out every player in a space.
Here's how it empowers Novo Nordisk's Open Innovation team:
“It’s not about replacing industry publications or databases with FounderNest. It’s about supplementing our existing resources to never miss another opportunity.”
Since adopting FounderNest, Novo Nordisk's team has witnessed a dramatic shift:
“FounderNest has become an essential tool for us, sharpening our innovation edge and propelling Novo Nordisk towards the future of healthcare.”