Each potential vertical is evaluated against four criteria: technological depth (is the IP defensible and difficult to replicate?), commercial scope (can the technology serve multiple industries or geographies?), capital efficiency (does the structure of the opportunity favor centralized rights ownership?), and compounding potential (will the vertical generate derivative IP and learnings that strengthen the platform?).
Verticals that satisfy all four conditions enter the active portfolio. Those that satisfy three move into pipeline review. Those that satisfy fewer are passed.