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Project application

Learn more about the incubation journey, criteria, and process on how to obtain funding by grow platform.

Bosch

The home of Bosch intrapreneurs offers a fully-digitalized application process based on fundamental funding principles and data-driven criteria leveraging the platform’s extensive experience in selecting and validating promising Bosch ventures. At grow platform, our premise is to make business model incubation more predictable. We offer our portfolio teams orientation and predictability in structured cycles and processes, and measure performance in defined intervals.


The application: Get started

What are we looking for? In principle, we have defined four different criteria to which teams must adhere when applying. grow platform takes up projects which match Bosch strategic innovation search fields, show advanced maturity and unicorn potential, and are driven by high-performing teams.

Bosch

Strategic innovation search fields

Strategic innovation search fields

grow platform aims to foster disruptive and explorative business models that are directly aligned with Bosch’s global corporate strategy.

Based on the corporate strategy, we are therefore looking for projects and business models that leverage sensors, software and/or services, incorporate connectivity (IoT) and/or, potentially, accelerate our value creation lifecycle in combination with or through the use of artificial intelligence (AI). Projects or business models do not have to feature the entire (resulting) key technology of AIoT in full combination. This combination of AI and IoT (= AIoT) is favored, but is not a reason for exclusion if only one technology is used.

A few other factors we also like to see are projects that capitalize on a Bosch “unfair advantage” and cross business segment boundaries or beyond existing division business. Furthermore, we are looking for fast, scalable opportunities in markets with no dominant players or where current players’ power is eroding.

Bosch
Bosch

Advanced maturity level

Advanced maturity level

When it comes to innovation, there are many different levels of maturity ranging from a search field to an idea to a scalable business model. Measured according to phases and criteria of the Bosch Innovation Framework, projects must have passed through all phases defined before incubation or have a comparable maturity status.

Concept validation working packages should be almost complete or in progress. Possible gate criteria to consider might be an existing proof of concept (PoC), analyzed capabilities for success of the business model, an identified and validated customer segment, or an existing (and successfully integrated) minimum viable product (MVP).

Bosch
Bosch

Unicorn potential

Unicorn potential

Unicorns are products or services that have the potential to generate sales of €1 billion within 10 years of their market launch.

The overriding premise from which unicorn potential is derived is the direct added value resulting from a new, disruptive business model. Accordingly, we are looking for business models that can meet the relevant targets for Bosch, taking into account internal indicators such as profit margin measured by EBIT and return on investment. Applying teams are not required to demonstrate precise figures at the time of application, but they do need to have a clear potential.

Bosch
Bosch

High-performance teams

High-performance teams

In order to implement successful business in a start-up environment, the team as such has the highest priority. Only high-performance teams will lead a business to great success. Team features such as social cohesion, collaboration style, and team members’ competencies decide in challenging times whether teams manage to survive and whether team members feel something is worth working hard for.

Every team may have specifics that make it successful. Based on research results, our experience, and cooperation with existing teams, grow platform has defined five main criteria for high-performance teams. These include specific key competencies (soft and hard skills for the general business, the specific domain and start-up environment), a transparent structure, the ability to shape, learn, and solve on a continuous basis, team care skills, and psychological safety.

Bosch


The evaluation: How do we make funding decisions?

Driven by data, defined by values.

At grow platform, we use our in-house developed matrix evaluation to assess and validate individual strategies, execution, and the results of application teams as well as their team performance.

Thus, we apply operational metrics predicting success based on an Execution Probability Score and a Revenue Compound Annual Growth Rate (Revenue CAGR) taking consideration of key questions regarding the current status quo, progress achieved, likelihood of growth, and future predictions. Teams that score high in both fields have a strong likelihood of receiving funding from the platform.

In addition, we are guided by pre-defined principles and values in order to make long-term, transparent, and comprehensible, but also successful decisions:

  • Evidence-based decisions
  • Allow flexibility to accelerate projects during the year
  • Staying true to defined criteria and strategies
  • FAVOR Principles
  • Agile Principles

“We aim to make start-up success for Bosch more predictable. We combine psychological safety and team performance criteria with evidence-based, data-driven funding decisions.”

The Journey: Incubation at grow platform

Journey


Our teams are at the center of everything we do. We strive for the success of our start-ups and interact with them proactively to help them operationalize their business.

Once a team has made it into the grow platform portfolio and achieved funding, their performance is validated consistently. During regular validation meetings, the Matrix Scores are updated and quarterly meetings with the management team ensure wise decision making and ad-hoc support wherever needed within the teams.

However, the portfolio at grow platform is adjusted and reviewed every half a year and teams and their projects - if not proven to be successful - might enter the exit phase eventually.

During their journey, teams can benefit from various support services offered by grow platform that contribute to the teams' successes:


Get in touch with grow platform

We look forward to your inquiry.

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