We see the potential in a connected world based on creating, analyzing, and activating data. The deep technologies required to act on and contextualize this data are resource intensive. We believe a venture building environment will realize the next generation of hardware and deep tech development - by providing the knowledge, capital, and network build-up these technologies need to be successful.
The market of new, deep technologies is pushing the industrial landscape into a new era. And its compound annual growth is big: there is a 20% expected increase to $14 trillion by 2025. These technologies are enabling companies to create comprehensive solutions that improve internal processes and serve their clients biggest needs. As a result, manufacturers will invest $70 billion on Internet of things (IoT) solutions alone in 2020, up from $29 billion in 2015. Improving efficiency and increasing automation of existing infrastructures, however, will only sustain today’s industries for a finite period of time. Deep technologies - like the IoT, artificial intelligence, decentralized networks - are creating new, rapidly growing and evolving industries that will outpace those of today. This reality requires stakeholders to straddle both present and future: improving on their core offering while also investing in the rapid growth outside it.
Of course, these deep technologies are incredibly complex. They have a high failure rate and require a longer lead time and support network to be successful. On the other hand, the benefits they provide and the impact they have are far greater.
That’s why we created a venture builder focused on deep tech and hardware, bringing the necessary experts and equipment in-house. We build on our learnings and give new companies a resource-rich environment to grow sustainably.
We focus on building ventures in five areas: manufacturing, healthcare, ICT, transportation and warehousing, and utilities. These sectors demonstrate large markets with high potential impact by deep tech solutions, growing interest and investment from venture capital, and a ripeness for disruption.
We are a full-stack team: hardware and software engineers, data scientists, user experience researchers and designers, venture developers, and strategists. And our playground includes a range of technologies: decentralized and distributed networks; API development and integration; database management; AI and machine learning; encryption and IT security; IoT; and augmented/virtual reality.
Our development process starts with predefined industry areas for in-house research. Our cross-functional research teams take a user-centric approach to identifying problems that inform ideation sessions on potential solutions. The solutions that come out of these sessions are evaluated and prioritized - and the best are quickly prototyped and vetted with clients, investors, and potential partners. We are committed to piloting our prototypes with a customer so that the new venture’s team can hit the ground running. Dedicated to lean development and a sprint spirit, we expect research kick-off to venture spin-out to take less than six months.
We conduct deep research of users, technical developments, and the market in specific verticals to evaluate opportunity areas for problem solving.
Informed by the discovery process, we organize targeted ideation sessions to generate ideas for novel solutions, which we rigorously evaluate and prioritize.
After validating our targeted solution, we quickly build prototypes. By putting them in front of our users, we prove the validity of the product and build a successful case study for the future venture.
Only the most promising prototypes that have completed successful prototypes will survive. If a pilot converts into first customers and longer term users, we turn the prototype into an independent startup company with talented founders at the helm.