PreXLR

An accelerated validation process during which we test the feasibility of a business proposition with hands-on research.

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The PreXLR program is a process of twelve weeks. In these twelve weeks, we test the commercial feasibility of a concept by validating or rejecting uncertainties and risks. What does that mean?

It means that we pose hypotheses, conduct interviews, and reiterate these hypotheses after analyzing the qualitative data.

We repeat this cycle about ten times, depending on the unanimity of the results. Once the problem that people are experiencing is crystal clear, we match it with possible solutions. Again, the problem/solution fit will be tested and discussed. When an ideal fit has been fleshed out, we match it with technology.

The 5 steps towards a successful business case

01/

Prolem Discovery

During this phase we find the most pressing problems specific to a customer segment.

02/

Solution Discovery

After finding a problem worth solving, we look for solutions that are better, faster, cheaper than existing alternatives.

03/

Prototyping

During the prototyping phase we develop a visual – or list technical aspects – of the solution. This visual supports the pitch in phase 4.

04/

Pitch MVP

We need paying customers to future-proof your business. In this phase we sign the first customers after pitching the solution.

05/

Business Case

Finalizing all learning in a business case will help stakeholders understand whether or not additional resources should be allocated to the innovation project.

Our role

In the PreXLR process, we find answers to the following questions:

01/

What problem does your customer experience & how can we solve this?

06/

What role can this technology play for additional features or products?

02/

How do customers currently solve this problem?

07/

Is your proposition technologically feasible?

03/

Which existing alternatives are available to them?

08/

Is the team coachable and ready for growth?

04/

Which added value is most important to the customer?

09/

Is the value proposition ready for a scalable market?

05/

What additional technologies could support this solution?

10/

Can we protect the concept?

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We've built rapport with many large players in the innovation space, so how come they trust us?

Innovation can be exciting and inspiring, but without identifying the right problem to solve, no creative idea or cutting-edge technology will lead to sustainable success.

That’s why our programs aim to have 100 to 120 conversations with potential customers. Which may seem like a lot. However, 4 out of 7 projects we help are able to sign detailed LOIs and contracts (including a binding payment clause).

Clever - a payroll startup by Van Spaendonck, closed their first 20 clients in only 3 weeks by pivoting their value proposition. After a year with 40,000 non-paying users the venture is now projected to generate $16M - $20M in ARR through the client base of existing business units.

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The best feature of working with BW Ventures is knowing that the team you have as a partner in innovation understands the exact process, as has been proven in the most successful startup ecosystems globally, and how to execute it to the benefit of not just the founders, but also the investors.

Christopher Sparks — Head Entrepreneurial Development Brightlands Smart Services Campus
Successful, early-stage startups create successful investment portfolios, and BW Ventures demystifies that process, unlike anyone I have met in the European startup innovation scene
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