Learnings. ● Having high level and relevant content curation, attracts the community and validates our model. ● Keeping closing deals with Public or Private Institutions that amplifies IMPACT’s value proposition (like the agreements closed with BCN Activa, Promalaga or CEEI Xxxxxx) helps IMPACT startups to obtain more value. ● New: In the future, making sure the Keynote Speaker session is at a time of evening when as many people as possible can attend.
Learnings. Following are the learnings which are to be implemented in possible next rounds of the Acceleration Program: ● Some classes were lived streamed so IMPACTers not physically present were able to follow the classes. This extra service, when possible, adds more value and satisfaction to the startups. ● More classes and content on Product. Trying to focus on UX and case studies. ● Longer lunch break. ● New: 8 out of the 11 startups participated in previous batches of the IMPACT face to face training, but also had 6 months mentorship program. These factors added an extra dimension of complexity in terms of providing a learning experience that truly provided high value to the startups. But the topics and the level of the teachers selected made this possible. ● New: Professors were more international than previously, and specially selected from London and Silicon Valley, the areas where the internationalization services were to be, so startups could have a better understanding and bigger network thanks to this training camp. ● New: Since all the startups had previously been accelerated in a FIWARE accelerator, they were familiar with FIWARE and did not require training in that area. ● New: Training was more “hands on” than in previous batches. ● New: In order to better provide training in the areas that startups most require, we consulted with the startups before arranging the training schedule. Their feedback helped us offer a more customized training. Here-below a video about Welcome Week, highlighting the keynote speaker and other parts of the day, as well as interviewing startups about their expectations.
Learnings. On some occasions, a lack of support in the implementation of an enabler, or a slow responsiveness can negatively affect startups, especially in months close to the Milestone. • The maturity state of the enablers varies from one to another, while the catalogue is too broad. We believe we should concentrate on having fewer, but more mature enablers, ready for use and support. • It’s not clear whether the specific enablers (verticals) are available for the startups to be used, and whether this implementation would make them FIWARE compatible. • A few startups may be interested in publicly opening their technology developments and studying the possibility to deliver them as FIWARE enablers. A clear study process of this possibility could help ensure these developments, close the loop in FIWARE learnings, develop some technologies using FIWARE, reaching the development of entire FIWARE enablers, and expand the FIWARE catalogue.
Learnings. ● A training session before a Digital Mission would be ideal so the startups could learn how to get the most from these meetings, how to get the investors’ attention, how to do an effective follow-up, etc. ● Double-check in the calendar that all the addresses are right and clear because Google Calendar modified some of them. It’s also important to synchronize the phone with the time zone, so the calendar shows the events in UK time.
Learnings. ● A training session before a Digital Mission would be ideal so the startups could learn how to get the most from these meetings, how to get the investors’ attention, how to do an effective follow-up, etc. ● Some startups take for granted that the companies that they want to meet with will have offices in Silicon Valley, but this turned out not to be true. So after researching the office locations we had to re-request the startups’ “Wish List,” wasting precious time in scheduling the meetings. ● The investment community in Silicon Valley is much harder to connect with than in the UK. And it turned out to be more closed and “referral-centered” than expected. Not a single cold call/email was replied to and even some direct references were ignored. ● Some startups, like Measurence, had the desire to meet big investment firms but this was the hardest to provide value, as explained before. ● Startups scheduled great meetings on their own, which really demonstrates the maturity and level of the startups selected for the Silicon Valley Digital Mission.
Learnings. ● We recognize three different types of startups: “Early stage,” “Ready for exponential growth,” and “Already at an exponential growth stage.” o Early stage: They are in a product development phase, maturing their services/ products, consolidating their business model, pivoting and validating their MVP (minimum viable Product). No big sales, no big growth yet but ready now to go to market and start acquiring users and clients. This fact leads us to improve our understanding of the “product development phase” of the company during the selection process. o Ready for exponential growth stage: Their product development was completed before entering the IMPACT acceleration program, and during the IMPACT acceleration process they obtained high growth rates in users and, in some cases clients as well. Based on this initial growth rates we can foresee exponential growth (hockey stick growth).
Learnings. Need to incorporate partnerships into reporting, increase process monitoring for less tangible and more long-term outcomes, involve program people at every stage to increase data optimity, change the ‘us versus them’ approach, and build a learning culture within and across organizations.
