Startup Challenge Tour
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The Startup Challenge Tour is a service that helps companies find and engage with relevant startups from around the world. It uses a discovery engine to search over 200,000 startups and identify the top 10 most relevant to the client's business needs. These startups then receive support to develop proposals that are pitched to the client with the goal of facilitating deals. The tour involves 6 steps: framing the challenge, identifying client challenges, building a startup network, filtering matches, supporting startups, and hosting the tour. It has worked with companies like P&G, LEGO, and media firms to connect them with innovative startups. Pricing ranges from £75k for a complete tour to £105k for individual
Startup Challenge Tour
- 1. © 100%Open 2015 Startup Challenge Tour What it is, how it works and what it costs February 6, 2015 1
- 2. © 100%Open 2015 Startup Challenge Tour February 6, 2015 2 The Start-Up Challenge Tour is a new way to find and work with the best companies globally that are relevant to your business. We use our Company Discovery Engine to scan over 200,000 companies and then work intensively with the top 10 companies to develop their propositions in line with your business needs, and then arrange a pitch at your premises with a view to maximising the chance of quickly and effectively closing successful deals.
- 3. © 100%Open 2015 Startup Challenge Tour In a nutshell…What it is February 6, 2015 3 1. A fast and cheap way to find the best startups in a given industry or sector; saving you time and money. 2. An efficient way to discover and meet up with unknown startups; keeping you at the forefront of your industry. 3. A modular series of activities: choose the most appropriate for your organisation’s innovation strategy. 4. A highly visible and engaging programme; ensuring your reputation for creating value is easily seen. 5. A scalable service: enabling a single corporate or multiple companies to find and engage with startups.
- 4. © 100%Open 2015February 6, 2015 4 Startup Challenge Tour In a nutshell…What you get Managed sector specific start-up scouting & matching service Use of our Discovery Engine to search 200,000+ companies A database of up to 300 relevant high-growth startups 10 high-quality sector specific product/service propositions Opportunities for a commercial deal or acquisition A differentiated series of global opportunities Build a buzz with and around territories and sectors
- 5. © 100%Open 2015February 6, 2015 5 Startup Challenge Tour Overview (alternative)
- 6. © 100%Open 2015 Startup Challenge Tour Step 1 – Frame the Tour Agree boundaries of tour by sector & territory Collaborative planningBriefing packs February 6, 2015 6 Scoping with sponsor (intermediary or specific corporate) / Agree and document boundaries of the tour: by sector and territory / Create briefing materials / Deliver launch event (with credible partner) / Potential challenge owners register interest
- 7. © 100%Open 2015 Startup Challenge Tour Step 2 – Identify Challenges Previous Startup Tour Challenge Owners Briefing packOnline Briefing with Challenge Owner February 6, 2015 7 First contact with potential challenge owners / Issue briefing material to innovation challenge owners / Interviews with challenge owners / Creation of innovation challenge database
- 8. © 100%Open 2015February 6, 2015 8 Startup Challenge Tour Step 3 – Build the Network Define search criteria / Search 200k+ companies / Collate results for up to 300 startups (sector specific: challenge independent) / Extract ‘Challenge 50’ (challenge specific) / Identify additional ‘Emerging 50’ / Review results with sponsor The database includes information on location… Home page of Search Results Portfolio from Belgian Media TourTypes of companies in database at a glance
- 9. © 100%Open 2015February 6, 2015 9 Startup Challenge Tour Step 4 – Filter and Match Present key results to challenge owners / Challenge owners create startup shortlist / Those startups contacted to establish interest in working with challenge owners / Challenge owners decide finalists / Finalists notified / IP Airlock initiated (optional)
- 10. © 100%Open 2015February 6, 2015 10 Startup Challenge Tour Step 5 – Support Startups Structured support from 100%Open to startups / Intro email and phone call between mentor and startup / Discussion and agreement about range of support needed to aid pitch (pitch prep, design, business models etc.) / Provide support as agreed
- 11. © 100%Open 2015February 6, 2015 11 Startup Challenge Tour Step 6 – Commence Tour Startups to tour location / ‘SME Exchange’ (event for all startups) / Networking dinner (includes mini-pitches: all startups to all challenge owners) / One-to-one pitches: individual startups to individual challenge owners / Follow up & monitor
- 12. © 100%Open 2015February 6, 2015 12 Startup Challenge Tour Startup pitching its propositions to a range of departments from a large European media company
- 13. © 100%Open 2015 Startup Challenge Tour What it costs and what you get Complete £75k Staged £90k Individual £105k 1. Frame the tour with sponsoring organisation A well scoped sector and territory specific plan £75K £20k £10K 2. Identify the challenges and innovation owners Clearly articulated statements to drive the search £15k 3. Build the network of relevant start ups A database of 100+ high growth startups £40k £25k 4. Filter and match startups to challenge owners * 10 propositions that add value to the sector £20k 5. Support startups ahead of the challenge tour Pitches tuned to needs of challenge owners £30k £20k 6. Commence tour of startups with challenge owners Opportunities to collaborate shaped by dialogue £15k • Filter and match can include optional IP Airlock process. Prices do not include this. Please ask for details. • We also offer a discounted subscription for individual stages that you use on a regular basis. • Pricing is indicative and varies with number of companies involved and innovation challenges addressed. February 6, 2015 13 Startup Challenge Tour What it costs & What you get
- 14. © 100%Open 2015February 6, 2015 14 Startup Challenge Tour Who we’ve worked with We searched for the leading high growth potential creative companies across Europe on behalf of 8 Media companies. “The Challenge Tour provides facilitated valuable introductions and deals between blue chip companies and inspiring start-ups. Thoroughly recommended.” Thomas Depuydt, iMinds We conducted two global searches for innovation partners with expertise in bio-plastics and also those with expertise in manufacturing processes of small components . “The radar search lead to several highly interesting companies & experts found. We would do it again.” Louise Tosti-Johansen, LEGO We have conducted over 10 projects for P&G to identify new innovation partners in response to a wide range of technical and business challenges. “We have at least four concrete projects being progressed from our use of this service which is a super result.” Neil Lant, P&G
- 15. © 100%Open 2015 South Building, Somerset House, Strand, London, WC2R 1LA Phone: +44 20 8133 1006 Mobile: +44 78 11 76 14 35 Email: roland@100Open.com Web: www.100Open.com Twitter: @rolandharwood Roland Harwood Co-Founder & Networks Partner Thank you 06/02/2015 15