10 startups arrive at a validated business model in 10 weeks, coached by 10 agile coaches in ING's startup launch class - Elemental
Challenge
The challenge was to create a programme where start-ups could quickly validate and iterate their business ideas, while at the same time ING agile coaches gained valuable learning experiences within the start-up ecosystem. ING, a global financial institution, has undergone an agile transformation, with each team supported by an agile coach. The goal was to develop a joint learning path in which both the start-ups and ING's agile coaches could grow. In doing so, the programme also had to align with customer needs and the rapid validation process of business models.
Approach
The Startup Launchclass programme was developed through a co-creation between ING, ACE (Amsterdam Center for Entrepreneurship), and Elemental. For ten weeks, ten startups were mentored by agile coaches from ING, who had been trained in methodologies such as Lean Startup and Customer Development by Strategy Makers. The startups were given the opportunity to test, validate and develop their ideas into validated business models.
This was done through:
Interactive online lectures on relevant methodologies.
Working sessions where startups collaborated with the coaches and supported each other in the process.
Individual coaching sessions in which startups received targeted advice from their agile coaches.
This intensive coaching not only allowed the startups to develop at an accelerated pace, but also taught ING's agile coaches how to apply their methodologies more effectively in a dynamic, entrepreneurial environment. This created a synergy in which both parties benefited from each other's expertise and network.
Result
The collaboration resulted in a clear win-win situation. The startups got the chance to validate their business model in an accelerated way and gain access to ING's extensive network, including valuable introductions. For ING, the programme meant that their agile coaches learned to experiment quickly and validate customer needs, an important skill for their agile squads.
The programme concluded with a pitched event at ING, where the board, senior management, coaches and associates witnessed the lessons learned by all the teams. The successful co-creation between ING, ACE and Elemental proved that collaboration between large corporations and startups leads to mutual benefit and innovation.