How to grow product through acquisitions?| Nadia Carlsten (Sandbox AQ)
Navigating the complex world of deep tech requires a special set of product management skills. From understanding highly technical details to aligning research and engineering teams, deep tech PMs must blend business savvy with scientific expertise. This podcast explores the unique challenges and opportunities of managing products on the cutting edge. Learn how leaders steer emerging technologies from lab to market, handle lengthy development cycles, gain customer insights despite limited data, and sell the promise of innovation. Whether biotech, quantum computing, AI, or beyond, discover how product leaders can successfully build the future.
Interested in how strategic acquisitions can accelerate product portfolios in deep tech? In this conversation with Dr. Nadia Carlsten, VP of Product at Sandbox AQ, we dive into another dimension in the product management toolkit for deeptech, i.e., product and technology acquistions. Nadia shares valuable experiences from leadership roles at various deep tech efforts and provide tangible takeaways for product managers to ace make vs buy decisions!
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We cover the following topics:
- How to think of product management for nascent technologies like quantum security, sensing, and simulation?
- How to approach customers when product readiness is low?
- When does acquiring products become a more strategic option than in-house development?
- How do you identify prime acquisition targets in the quantum space?
- What are the biggest challenges and do’s/don’ts of integrating acquired products?
- The importance of proactively working on seamless integration of teams post acquisition.
- Can you share insights from a successful acquisition and what contributed to its success?
- What’s one feedback you would give your past self as you were starting on your product career?
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Key Takeaways:
Challenges of Deep Tech Product Management:
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Unlike traditional consumer goods, deep tech involves a high degree of scientific and engineering uncertainty. The product management process must acknowledge this inherent complexity and the need for substantial research and development. However, as a for-profit, customer-facing organization, there’s a balance to strike between research and market readiness.
Delivering regular incremental value
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Despite the lengthy development cycle typical of deep tech products, we discuss a strategy of delivering incremental value to consumers. This approach involves demonstrating constant progress by offering pockets of value to customers at different stages of the product development cycle. Not only does this keep customers engaged, but it also helps to derisk their journey with the technology.
Role of Acquisitions:
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Discussing the role of acquisitions in the deep tech landscape, Nadia highlights their potential as a powerful strategy to deliver value more efficiently. The decision to acquire often hinges on two main criteria: whether the company can deliver something more quickly or efficiently on its own, and whether another entity could help accelerate the delivery. Acquisitions can also bolster a company’s product capabilities, enabling it to integrate new functionalities into its existing product.
Identifying Acquisition Targets:
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Keeping abreast of market trends and technological advancements is key to identifying potential acquisition targets. Insights from customer dialogues can also reveal other companies or technologies they are exploring. Staying updated with technological advancements and understanding who’s making strides in the space can also highlight potential acquisition targets. Another instrument is to leverage your customers! Understanding which acquisitions could add more value to your customers’ experience is a great way to identify potential opportunities
Post Acquisition Integration
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Closing an acquisition is just the beginning of a complex process. Integration, particularly aligning product roadmaps, is crucial, especially when the acquired company is of similar size to your own. It’s necessary to ensure coherence for both sets of customers – those of the acquiring company and those of the acquired one.
Resources:
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Book recommendation : Build by Tony Fadell (https://amzn.eu/d/3is92oY)
- Ravi’s Linkedin: https://www.linkedin.com/in/sundaramravi/
Brought to you by:
- Deep Tech Syndicate— A community of product leaders in deep tech , join us today! https://deeptechsyndicate.substack.com/
With support from :
- The Quantum Insider- the world’s leading database on quantum investments and market activity. TQI provides insightful data and analysis to navigate the rapidly evolving quantum landscape. Visit https://thequantuminsider.com/ to learn more
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Time stamps :
(00:00) Teaser
(00:52) Podcast Intro
(01:26) Nadia’s Intro
(02:31) Role at Sandbox and the diverse product portfolio
(05:52) Product management strategies for such a deeptech (08:40) How to approach customers when product is not ready
(12:00) How to provide incremental value?
(14:50) When does make sense to buy vs make?
(16:55) Multiple reasons to do acquisitions
(18:03) Tactics for identifying acquisition targets
(20:57) Post acquisitions actions and strategy
(26:09) Internal and external acceleration of strategy post acquisition
(27:00) Activities to integrate teams post acquisition
(30:14) Examples of successful acquisitions
(30:25) Advice to your past self?
(30:35) Book recommendation and deep tech trend
(42:05) Outro and links to join the deep tech product community
If you found this article to be informative, you can explore more current quantum news here, exclusives, interviews, and podcasts.