Spotting the Team Dynamics

We're coming in the last few days of the selection process for this season of Startupbootcamp HightechXL. But we can already see that access to brilliant mentors are one of the main reasons for a high-tech startup team to choose a particular accelerator program. Only a few focus as we do on hardware high-tech, but as the Internet of Things morphs quietly into the Internet of Everything (at least CISCO would like us to believe that), it looks like this a just the right moment to add the hardware side. And just as the teams pick and choose their accelerator, so we pick and choose team. As Richard Branson wrote recently, 

There is nothing more important for a business than hiring the right team. If you get the perfect mix of people working for your company, you have a far greater chance of success. However, the best person for the job doesn’t always walk right through your door.

The first thing to look for when searching for a great employee is somebody with a personality that fits with your company culture. Most skills can be learned, but it is difficult to train people on their personality. If you can find people who are fun, friendly, caring and love helping others, you are on to a winner. That doesn't mean you can’t take risks when building your team. Don’t be afraid of hiring mavericks. Somebody who thinks a little differently can help to see problems as opportunities and inspire creative energy within a group. Some of the best people we’ve ever hired didn’t seem to fit in at first, but proved to be indispensable over time.

Guus Frericks is the manager of Startupbootcamp HightechXL. He believes we can go further that just that gut feeling.

Guus Frericks, Startupbootcamp HightechXL

"As entrepreneurs, we know that team dynamics are the key differentiator for successful start-ups. So during our Final Selection days on October 14 and 15th we've partnered with InContext to do some rather sophisticated personality assessment of the finalist teams. So rather than just relying on the intuitive approach that Branson refers to, we're also using technology to explore strengths and weaknesses. That helps our selection teams ask some explorative questions. And all the teams, whether they get in or not, will get access to their respective team reports. These are a great way of understanding the team dynamics and what motivates (and really annoys) others. Some of the missing talent you can hire in when needed. But there are also things that founders should never delegate to others until they have validated their business model canvas"

We have also been talking to other mentors in other programs, making this compilation of views on why mentors matter. Enjoy. 

The Value of Mentorship 1 f

Eindhoven radiates ambition and talent

Neelie Kroes, Vice President of the European Commission and vocal champion of the continent's digital agenda ruffled a few feathers in the Netherlands at the end of last month by saying that when it came to digital technology, this country had few ambitions. She spoke in her native Dutch during a popular programme on public TV (entire programme is above). This is what she said during the interview.

"The Netherlands needs to look much higher up the ladder, with much greater investments needed in research and education. The world is already digital. Europe is investing 41%  of the budget in agriculture What a missed opportunity! Why not an injection of 10 billion into the nano and micro-electronics sector? That's a drop in the ocean compared to what we're spending on farm subsidies."

Indeed, it does seem crazy that several US venture capitalists and banks are now popping up more often on European technology parks. They recognise the talent and technology that is growing in places like the HighTech Campus. And that these developments are the lifeblood of the global digital economy. The Netherlands is a leader in many areas. It has a robust digital infrastructure already in place.

Neelie Kroes again "I believe we should be doing a lot more to encourage startups. All the large names, now household words around the globe, all began as an small company in a garage".

" It is incredible hard to start a successful business. There will be difficult steps. And some ventures will fail. But as Europeans we have to get over the continuing fear of failure that prevents many European banks and VCs from investing just at the right moment."

Action speaks louder than words

Shortly after Neelie's interview, came the public launch of the HighTechXL accelerator program. Backed by Dutch Expansion Capital, as well as Ernst & Young, it's a perfect example of a local initiative with international impact. Actually it has taken almost 12 months to get everything in place. But it comes at exactly the right time.

Guus Frericks is the man leading the HightechXL team preparing the program in Eindhoven.

" We know that 70% of the teams we're looking for are outside The Netherlands. We're doing a pitch session in Singapore this Friday June 28th. We're setting up more in places like Bangalore, Silicon Valley, Cambridge, Paris, Graz, Munich & Marseille."

" What we're really doing is tapping into a brilliant ecosystem that already exists here in Western Europe, and especially in this area of the South-East of the Netherlands. Our private equity firm has a long history of working with young high-tech companies. By working closely with Startupbootcamp network, we're able to cherry pick lessons learned from the app and software development & accelerator world."

"Quite often great software startups bootstrap their first few months. But if you're building hardware in the high-tech sector, constructing your prototype or proof of concept can't happen without some seed or so-called Series A investment. The teams we're looking for are working with hardware as well as software, so the earlier they get feedback from the market, the better."

" If a customer tells an app developer he doesn't like one aspect of his app, fixing it is usually a few lines of code. If someone says the design of your 2 metre solar panel doesn't meet their minimum requirements you have a very different scale of problem. It could take months to fix it. "

" As we launch HightechXL, we'd love to invite Neelie Kroes to have a look at what we're doing with high-tech. We don't have mountains in Eindhoven. So no physical valleys. But we're bursting with talent and ambition. And we're inviting the world to share. "