Venture on demand: step up your start-up game
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Intrapreneurship and entrepreneurship increasingly go well together. Corporations learn how to act lean and increase their speed of execution. Start-ups on the other hand get access to important corporate resources in terms of market knowledge, data and cash. In this breakfast session, Nicolas Cap told us more about how the start-up-as-a-service model works.
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Venture on demand: step up your start-up game
- 1. We build startups, with corporations, from the ground up Corporates are in pole position to create the businesses of tomorrow. We enable entrepreneurship to do so.
- 2. founded in 2008 Antwerp, Belgium Successfully executed 100+ innovation projects launched 10 STARTUPS in the last 2 years
- 3. OUR AMBITION TODAY TOMORROW Team 18 people Locations Antwerp - New York Team 40+ people Locations Antwerp - New York London - Amsterdam LAUNCH 50 STARTUPS BEFORE 2021
- 4. NICOLAS CAP VENTURE DEVELOPMENT STUDIO Managing partner & Board of Directors Investor & BoD CORPORATE VENTURING FUND Co-founder & Board of Directors Strategic advisor Strategic advisor
- 5. 01 WHY? AGENDA 03 CASE STUDY 02 THE ALTERNATIVES 04 OUR LEARNINGS 05 QUESTIONS & ANSWERS
- 6. WHY WE DO, WHAT WE DO. LOOKING BACK… WHY? 01
- 7. “ We believe that too many innovation initiatives fail.
- 8. START-UPS are able to move fast. CORPORATES But they don’t have agility methodology or guts to launch it successfully. the money stability or size to take it to the next level. But they don’t have spend a lot on innovation.
- 9. DISRUPTING THE MARKET OF MORTGAGE LOANS
- 10. START-UPS are able to move fast. CORPORATES But they don’t have agility methodology or guts to launch it successfully. the money stability or size to take it to the next level. But they don’t have spend a lot on innovation.
- 11. EXPERIENCE THE FIRST VR VIDEO PLATFORM
- 12. We decided to combine best of both worlds. “
- 13. THE TRADITIONAL WAY OF WORKING BOARD OF DIRECTORS
- 14. THE START-UP WAY OF WORKING BOARD OF DIRECTORS
- 15. THE CORPORATE STARTUP STORY Bundl has built The Park from the ground up with Telenet and 9.5 Magnitude. That’s from post-it to concept, business case, startup team, development, to fully fledged startup launch. Telenet's approach was limited governance, limited amount of people looking “over your shoulder” and what’s most important is the trust that the company put into the people who we’re working on The Park. Kenny Henderyckx, Director Strategy & Corporate Development Gaming INDUSTRY THE PARK The Park drops you smack-bang into a thrilling world where action-packed adventures await. Move freely through an immersive virtual reality, where everyday rules don’t apply, www.theparkplayground.com + + 01
- 16. 02 Tellow offers digital convenience and makes book-keeping simple. The spin-off shows that Tellow is ready for the next stage. Kirsten Konst, Head Commercial Banking THE CORPORATE STARTUP STORY Developed inhouse through the Moonshot accelerator programme, the automated book-keeping app, which is connected to a commercial bank account, already has more than 15,000 Rabobank customers signed up. Fintech INDUSTRY TELLOW Tellow offers digital convenience and makes book- keeping simple, giving self-employed professionals more time to grow their business. www.tellow.nl
- 17. 03 If we really want to approach this from the consumer, then we really have to work, think and work as a start-up outside the Heineken group. Hans Böhm, Managing Director Beerwulf THE CORPORATE STARTUP STORY Hans Böhm and Arnaud Wynia have been parachuted from Heineken to Beerwulf, a digital start-up that wants to sell specialty beer. Heineken is the only investor. FMCG INDUSTRY BEERWULF Beerwulf is an online platform designed by and dedicated to beer enthusiasts. The mission is to make great craft and specialty beers accessible for everyone. www.beerwulf.com
- 18. that build start-ups with us. THE CORPORATES
- 19. IS VENTURE DEVELOPMENT ALWAYS THE WAY TO GO? IN SHORT, NO IT ISN’T. LET’S SHOW YOU SOME ALTERNATIVES! THE ALTERNATIVES 02
- 20. NO INNOVATION VENTURE DEVELOPMENT SPIN-OFF SPIN-IN ACCELERATOR INNOVATION PROJECTS TIME LEVELOFINNOVATION EQUITY INVESTMENTS
- 21. Corporations set up teams across different departments to optimise or improve the current business model. INNOVATION PROJECTS
- 22. NO INNOVATION VENTURE DEVELOPMENT SPIN-OFF SPIN-IN ACCELERATORS INNOVATION PROJECTS TIME LEVELOFINNOVATION EQUITY INVESTMENTS
- 23. Corporations use direct equity investments to target startups of strategic interest and get acces to new markets or offerings ‘instantly’. EQUITY INVESTMENTS
- 24. NO INNOVATION VENTURE DEVELOPMENT SPIN-OFF SPIN-IN ACCELERATORS INNOVATION PROJECTS TIME LEVELOFINNOVATION EQUITY INVESTMENTS
- 25. Accelerators offer highly structured programs that typically last no more than three months. These programs provide startups with the facilities, resources, and expertise needed to speed their product development and time to market. ACCELERATORS
- 26. NO INNOVATION VENTURE DEVELOPMENT SPIN-OFF SPIN-IN ACCELERATOR & INCUBATOR INNOVATION PROJECTS TIME LEVELOFINNOVATION EQUITY INVESTMENTS
- 27. “ It’s essential to select the right corporate innovation tool to make innovation really happen.
- 28. CASE STUDY: PEEKING INSIDE A FRESHLY LAUNCHED CORPORATE VENTURE WITH TELENET CASE STUDY 03
- 30. 01 VALUE PROPOSITION STAGE 02 ALPHA LAUNCH STAGE 03 STARTUP LAUNCH STAGE
- 31. VALUE PROPOSITION What is the future of entertainment and how can we define a clear value proposition in that area? PROCESS 10 WEEKS SCRATCH STARTU P STAGE I PITCH YOUR VENTURE TO GET CORPORATE FUNDING • Challenges & Need Identification • Design sprint #1 • User & Corporate validation • Design sprint #2 • Industry expert feedback • Corporate investor pitch DAY 18 DAY 25 DAY 33 DAY 38 DAY 59 DAY 68 10 weeks Undisclosed Validated Value Propositions
- 32. VALUE PROPOSITION PITCH What is the future of entertainment and how can we define a clear value proposition in that area? PROCESS • Challenges & Need Identification • Design sprint #1 • User & Corporate validation • Design sprint #2 • Industry expert feedback • Corporate investor pitch DAY 25 DAY 33 DAY 38 DAY 59 DAY 68 10 weeks Undisclosed Validated Value Propositions DAY 18
- 33. VALUE PROPOSITION PITCH What is the future of entertainment and how can we define a clear value proposition in that area? PROCESS • Challenges & Need Identification • Design sprint #1 • User & Corporate validation • Design sprint #2 • Industry expert feedback • Corporate investor pitch DAY 25 DAY 33 DAY 38 DAY 59 DAY 68 10 weeks Undisclosed Validated Value Propositions DAY 18
- 34. VALUE PROPOSITION PITCH What is the future of entertainment and how can we define a clear value proposition in that area? PROCESS • Challenges & Need Identification • Design sprint #1 • User & Corporate validation • Design sprint #2 • Industry expert feedback • Corporate investor pitch DAY 25 DAY 33 DAY 38 DAY 59 DAY 68 10 weeks Undisclosed Validated Value Propositions DAY 18
- 35. VALUE PROPOSITION PITCH What is the future of entertainment and how can we define a clear value proposition in that area? PROCESS • Challenges & Need Identification • Design sprint #1 • User & Corporate validation • Design sprint #2 • Industry expert feedback • Corporate investor pitch DAY 25 DAY 33 DAY 38 DAY 59 DAY 68 10 weeks Undisclosed Validated Value Propositions DAY 18
- 36. VALUE PROPOSITION PITCH What is the future of entertainment and how can we define a clear value proposition in that area? PROCESS • Challenges & Need Identification • Design sprint #1 • User & Corporate validation • Design sprint #2 • Industry expert feedback • Corporate investor pitch DAY 25 DAY 33 DAY 37 DAY 59 DAY 68 10 weeks Undisclosed Validated Value Propositions DAY 18
- 37. ALPHA LAUNCH How can we prove market traction and build a business case in immersive entertainment? PROCESS 24 WEEKS SCRATCH STARTU P STAGE II LAUNCH AN MP, TO GET MARKET TRACTION 14 weeks (after Value Proposition Pitch) Undisclosed Alpha prototype in the market • Set up dedicated start-up team • Partnership tour • Start-up warroom • Feature development • Telenet x 9.5M investor pitch DAY 78 DAY 86 DAY 105 DAY 136 DAY 188
- 38. ALPHA LAUNCH How can we prove market traction and build a business case in immersive entertainment? PROCESS 26 WEEKS SCRATCH STARTU P • Set up dedicated start-up team • Partnership tour • Start-up warroom • Feature development • Telenet x 9.5M investor pitch DAY 78 DAY 86 DAY 105 DAY 136 DAY 188 14 weeks (after Value Proposition Pitch) Undisclosed Alpha prototype in the market
- 39. ALPHA LAUNCH How can we prove market traction and build a business case in immersive entertainment? PROCESS • Set up dedicated start-up team • Partnership tour • Start-up warroom • Feature development • Telenet x 9.5M investor pitch DAY 78 DAY 86 DAY 105 DAY 136 DAY 188 14 weeks (after Value Proposition Pitch) Undisclosed Alpha prototype in the market
- 40. ALPHA LAUNCH How can we prove market traction and build a business case in immersive entertainment? PROCESS • Set up dedicated start-up team • Partnership tour • Start-up warroom • Feature development • Telenet x 9.5M investor pitch DAY 78 DAY 86 DAY 105 DAY 136 DAY 188 14 weeks (after Value Proposition Pitch) Undisclosed Alpha prototype in the market
- 41. ALPHA LAUNCH How can we prove market traction and build a business case in immersive entertainment? PROCESS • Set up dedicated start-up team • Partnership tour • Start-up warroom • Feature development • Telenet x 9.5M investor pitch DAY 78 DAY 86 DAY 105 DAY 136 DAY 188 14 weeks (after Value Proposition Pitch) Undisclosed Alpha prototype in the market
- 42. ALPHA LAUNCH How can we prove market traction and build a business case in immersive entertainment? PROCESS • Set up dedicated start-up team • Partnership tour • Start-up warroom • Feature development • Telenet x 9.5M investor pitch DAY 78 DAY 86 DAY 105 DAY 136 DAY 188 14 weeks (after Value Proposition Pitch) Undisclosed Alpha prototype in the market
- 43. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS SCRATCH STARTU P STAGE III 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch GROW A STAND ALONE BUSINESS 54 WEEKS DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 44. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS SCRATCH STARTU P 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 45. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS SCRATCH 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market58 WEEKS • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 46. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 47. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 48. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 49. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382 Philippe De Schutter Managing Director Hiring Now! Technology Lead Hiring Now! Marketing Lead ? ? APPLY APPLY
- 50. STARTUP LAUNCH How do we launch this startup, grow resources and become a business? PROCESS 30 weeks (after Alpha Launch) Undisclosed Bèta product in the market • Brand development • Hire Start-up team 2.0 • Web & app development • Location development • Game development • Hire Start-up team 3.0 (& Bundl fade-out) • Official (Beta) launch DAY 201 DAY 212 DAY 220 DAY 237 DAY 250 DAY 318 DAY 382
- 51. OUR LEARNINGS 04 WHAT DID WE LEARN DURING THIS CORPORATE VENTURE TRACK TOGETHER WITH TELENET.
- 52. Convince the leadership to evangelise a facilitator/enabler mindset within the corporation instead of controlling mindset. Use your cash wisely. Do not fall in the “can’t we do both”-trap. Focus is key. Clear target group, ‘less is more’- products. 6 Learnings to Build Corporate Startups If you fail, fail as fast and cheap as possible. Get out of the building to validate or pivot your ideas asap. We are corporate venturing to fight the 91% fail rate, so leverage the corporate assets in a smart way. Speed and cost are key, hack the proces where you can. The methodology is not a purpose on itself, it’s a way get somewhere. Scout the right intrapreneurs. Their market expertise, but also their diplomatic role is a key ingredient for success.
- 53. DO YOU HAVE QUESTIONS, IF YES PLEASE SHOOT. IF NOT, I WILL HAVE SOME QUESTIONS. Q&A 05