Principles of the Combient Foundry Venture Client Cycle
Combient Foundry announced the first venture client cycle in February 2018. The cycle featured a total of five opportunities.
Last week we announced the launch of our first Venture Client Cycle with KONE and Stora Enso.
The interest towards the program has been very high and we have received quite a few inquiries regarding the basic principles of the program. I’ll address them below.
Our Venture Client Cycle is targeted to top startups seeking to work with KONE and Stora Enso on Smart Construction and Digitalization Solutions. We are looking for those companies with the ambition to be the best in the world in their space and the ability to execute like no other.
How does it work?
We want to keep it simple and beautiful. Our member firms are looking to buy a solution from you that can be integrated and deployed in real-life scenarios. That means something that can have a real impact on their business and their industry.
The name of the program says it all, we offer the Venture Client Approach for expedited client acquisition. As it is the case with venture capital, we understand there is a related risk with what we do. Sometimes you succeed and sometimes you learn. We do our best in getting a combination of both.
We focus on providing you with three simple steps. You get to...
Present your solution to senior management and experts of our member firms, in this case, KONE and Stora Enso
Co-create a suitable application to real business needs by combining your solution with the expertise of our member firms
Sign project contract with our member firms
Following these steps, you will get industry-leading companies as paying customers.
And to make it clear, we are not focusing on...
Building a ‘yet another startup program’. For instance, we won’t offer you a network of external mentors who may, or may not, be able to help you with your business model, team formation or raising international venture capital. While these are important aspects of building a scalable business, we trust you know how to do them yourself, or at least find advice on your own.
“Nice-to-have concepts” that you might come up with during a hackathon, innovation contest or something similar. There are plenty of organizations that can offer you that. Some of them are good and others not that great. We don’t want to be either of them. We want to get results with real impact and do business with you.
Going after your IP. What you own is yours, and what our member firms own is theirs. Simple and reasonable. If you and our member firms create new IP together, then we talk. Getting many startup companies in our program. We rather focus on finding a few that we know we can work with, than spending time with a bunch and ending up with ‘new ideas’. We value our time and respect yours, and believe this is in everyone’s interest.