Synchrony Innovations, the software as a service provider recently spun out of strategically focused advisory firm Synchrony Venture Management, is today launching TiCR Innovation Analytics, software to help corporate venturing (CVC) units and wider innovation-focused corporate personnel to analyse strategic value.
Adam Caper, chief executive of Synchrony, said TiCR, which stands for Total Innovation Capital Returns, was “the first-ever system which allows companies to evaluate widely disparate innovation investment options using a single metric” – called Strategic Return on Investment (SROI, pictured).
According to Caper, TiCR “is designed to give R&D [research and development] and CVC managers a consistent, unified system for analysing the strategic value component of their investments”.
Synchrony currently has four proof-of-concept implementations for TiCR.
The software is based on last year’s white paper, Innovation Capital, by Synchrony, which called for an empirically-driven approach to measuring strategic value.
Caper said the firm was about halfway through a fundraising to support TiCR’s go-to-market plan. Caper said: “We are doing a small round to ensure that we have all of the necessary resources in place to respond to what, based on the reaction we have been getting to our demo, seems to be substantial demand for TiCR.”
He added: “Because our capital requirements at this point are relatively minimal, and because our clients have expressed concern about the potential implications of a venture financing and liquidity-driven exit on control of such strategically sensitive data, we have opted to pursue angel financing rather than taking the VC [venture capital] route.”