Module 1: the pressure cooker effect
It took no more than the first 3 days of the Program for the 10 ventures to get to know each other and to define the key strategic issues to work on during the program. The result of the ‘pressure cooker effect’ we create together with our mentors, partners and the power of peer reviewing. Some highlights of the first module.
Innovating in traditional industries and creating new markets – insights from a CEO
On the first day we had an in-depth conversation with Reinier Mommaal, one of the founders and former CEO of DyeCoo Textile Systems. DyeCoo introduced a revolutionary waterless dyeing technology to the market. He provided us with valuable insights while talking about his journey from prototype to implementation. For example on how to build strong, strategic partnerships already during the (technology) development phase, so that when things really start to take off you can make big steps. And how you need to be smart as a small innovator between the big giants.
Pitch, practice, and pitch again
Already on day 2 the entrepreneurs pitched their ventures to an audience of 50 mentors, partners and investors. But not before they turned their presentations into the 3 minute pitch canvas format and a good round of practice first. The pitch session kicked off the afternoon session where the ventures worked on their 5-year strategic goals and 12-month milestones with support of their mentors and our program partners. We ended celebrating a day of hard work with drinks and some serious networking.
The power of peer reviewing
Day 3 was the day of the first trial rank. All 10 ventures had to rank their 9 peers based on 20 investment criteria. How to do that when you only know each other since 2 days? After a solid introduction of the criteria this exercise turned out to be very powerful. In the last module, this rank will define the winner of the program that will go home with €50.000 investment. So it is not just a cool app, it’s serious business. The group was pleasantly surprised by the collective intelligence that got revealed through the peer reviewing. It contributed to a very solid start of the program.