Learn how Stryber’s signal-based approach to venture building can help you identify and validate new business opportunities, accelerate your growth and shape the future of your industry.
November 28, 2023
Head of Business Development
Stryber’s signal-based Venture Building Approach: How to identify and validate new business opportunities
As the leading, independent venture builder, we at Stryber help organizations to become future-proof by building new business models that deliver substantial growth. We do this by applying our tried and tested framework, which includes the following key stages:
Ideation: We use a signal-based approach to identify promising new business opportunities. This means that we look for startups that are showing traction in other markets and that fit the strategic priorities for our client
Validation: We then validate these opportunities by conducting market research and customer interviews. This helps us to ensure that there is a real need for the product or service and that it is viable from a commercial standpoint.
Execution: Once we have validated an opportunity, we help our client to execute on it by building a team, developing the product or service, and launching it to the market.
One of our key differentiators is that we pursue a so-called signal-based approach (introduced briefly in our previous blog post here).
What is a signal based approach to venture building?
A signal-based venture building approach is a systematic way to identify and validate new business opportunities.Therefore, our experienced Venture Architects generate a short-list of relevant signals, which means selecting relevant startups from our database that fit the following criteria:
Market Developments: They are showing traction in markets that are of significant size and relevant to our client
Corporate Assets: They have the potential to leverage our client’s assets to create a competitive advantage
Strategic Vision: They are aligned with our client’s overall vision and strategy
Once we have generated a short-list of signals, we then prioritize them using a variety of factors, such as the size of the market, the strength of the team, and the level of traction, all part of our “secret sauce” which ensures only the relevant signals are considered throughout the process. We then conduct further research on the top signals to validate the opportunity and to develop a business plan.
Benefits of using a signal-based approach to venture building
There are several benefits to using a signal-based approach to venture building, including that it is a more efficient and effective way to identify new business opportunities. It substantially reduces the risk of failure by focusing on business models that are already showing traction in other markets. Thus, it helps to identify opportunities that might not have been considered through problem-driven ideation alone (see our previous blog post here).
Case Study: Identification of new business opportunities for a global energy provider
Stryber recently worked with a global energy and services group to identify new business opportunities in the energy transition space. The client was interested in developing new products and services that would help them to accelerate the transition towards a carbon-neutral world.
We used our signal-based approach to identify a number of promising startups in the hydrogen energy, battery storage, and decarbonization spaces. Our Stryber experts then conducted further research on these startups and developed a shortlist of the top opportunities. The team then presented the shortlist of opportunities to the client and helped to develop a business plan for the most promising opportunity.
This is just a glimpse of our range of services and our dedication that we put into action on a daily basis to create substantial new business together with our clients. Please get in touch in order to find out which are relevant signals for your company which will serve as a basis for exploring relevant areas for further growth and might ultimately result in your new, thriving business.