Startup Incubation & Growth
Post investment, Genesys provides an intensive programme of Active Management for all startups.
The focus of this activity is to, 1) develop competences and build the organisation in systematic way; and 2) to reduce risk of failure by providing activity where the right specialist resources are applied as fast as possible.
Genesys’s role includes:
- developing competences and build the organisation;
- implementing Routes to Value;
- generating information flows for future decision making;
- monitoring performance;
- developing appropriate supply chain strategy and relationships;
- developing and testing routes to market and develop a commercial strategy;
- building a funding roadmap to deliver adequate, timely financial resource to the business; and
Genesys provides value to startups due to the fact that they can access a larger number of resources through the Genesys network than when operating alone, because costs are shared between all current (and previous) startups. This ‘shared resources’ approach is then complemented by highly individualised requirements identified by the Routes to Value work done prior to investment. This is important, because for very early stage companies, the ability to apply the right competence at the right time greatly improves the chances of success. So the entire Genesys Active Management programme is structured to reduce risk of failure by providing intense activity where the right specialist resources are applied as fast as possible. This is done through a combination of innovation resources discussed in more detail below, the first of which being Subject Matter Experts.
Subject Matter Experts
Genesys has access to over 2000 specialists which we access using two proprietary decision trees. The output from searches includes profiles as shown below. These individuals are then engaged directly by the Ventures to get access to specialist assistance.
Sample Profile: Subject Matter Expert
Sample Search Result: Search by Skill Type
Bi-Weekly Education Sessions
Every 2 weeks Subject Matter Experts are also selectively invited to provide training workshops to groups of Startups. Topics are selected to suit the current needs of teams, and the sessions act as a forum for teams to discuss problems and solutions with an expert specialist. These are conducted in a group setting so that team members learn not just about their own challenges, but also hear about what issues their peers are facing. This group learning environment creates context for unexpected solutions to emerge from neighbouring fields of expertise available within the group. Example topics for workshops includes design and marketing of services, routes to market, management and business, product and service life cycle management, financial management, sales performance management, management of change, leadership and entrepreneurship, project management, systemic thinking, value management, risk management, agile management, service blueprinting, impact assessment, requirements management, value proposition development.
Genesys actively seeks to pair individual team members with Mentors to assist with personal development topics. Mentors act as a sounding board where they can give advice and provide market knowledge or anecdotal experience, and the individual is free to pick and choose what they do or how to proceed with their business activities.
Coaching is embedded in the Genesys process with the specific objective of ensuring the success of the startup by improving the competence of teams members where specific skills need to be developed. Genesys defines the “skills” element of Competence on three levels:
- personal/inter-personal skills (needed to deal with other people);
- professional (needed to do the job well); and
- technical (needed to support the professional skills).
The combined education, mentoring and coaching sessions are all aimed at providing startup teams with rapid access to all the skills and knowledge that may be required to establish key proof points in developing the business. This knowledge-based input is then complemented by a range of physical resources such as workshops, machinery and equipment facilities.
Workshops, Machinery and Equipment
Genesys has developed partnerships with specialist facilities within London offering access to world-class workshops, machinery and technicians across a range of disciplines. This gives startups the ability to prototype physical products and do limited production runs, without the challenges associated with operating at arms length with foreign production partners.
The Team, with input from external assessors and coaches, reviews each startup according to milestones established in the Routes to Value exercise. Funding is released in stages, according to the criteria for each milestone being met by the venture.