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PreXLR

We want to accelerate a validation process during which we test a concept by speaking to customers.

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

It means that we pose hypotheses, interview consumers, 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 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.

We supervise the process, we facilitate the conversation and we continuously offer feedback.

In an online environment, we meet up weekly to elaborate on our methods, next steps, and to make sure that we keep the pace high. After all, we aim for rapid growth.

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?

We start the process with a validated value proposition.

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.

quotes

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