Industryhack FastTrack is a 100% online process that helps you find new solutions to your challenge in just a couple of weeks
This spring we have faced a time when our mission to help people solve big challenges together is more relevant than ever. To keep doing this despite having to work remotely and in an urgent manner, we designed a new process for matching challenges with solutions, challenge owners with solvers, and for facilitating smooth collaboration and co-creation online. The Industryhack FastTrack approach helps fight the pandemic’s effects both in terms of finding solutions for the hosts’ challenges quickly on one hand, but also to provide new assignments for the solver companies (suppliers) fast on the other.
FastTrack process in a nutshell
- Defining the challenge and opportunity: Selected topic is formulated into a challenge that is relevant, needs co-creation and is an interesting business opportunity to the suppliers. The challenge is promoted to the Industryhack’s community and targeted audiences to find interesting suppliers.
- Finding each other: Suppliers form teams of 2-3 people and apply with an initial idea or approach. Three most interesting teams are invited to work with the host.
- Co-creating solutions: Together with the host, suppliers co-create and test their solution ideas or apply and validate their existing products or services that match the challenge. At start, a Briefing Session is organized to introduce the selected teams to the challenge and the host. Next, short 1on1 sessions with the host are organized to help teams develop their solution and match it with the host’s needs and wishes. Finally, teams present their solutions and proposal drafts for the proof-of-concept project in the final presentations session. The most promising team and solution is selected to further discuss and agree on the poc project starting soon after.
- Proof-of-concept: In the following proof-of-concept (poc)phase the solution is built and tested further to see if it is something that could be implemented and/or deployed, and how the collaboration with the supplier works.
The whole process can be run remotely and in as quickly as 3 weeks if needed.
First FastTrack project attracted great applicants, led to three proposals and one poc partnership for Kiilto
As the first FastTrack case, we worked with Kiilto to find them a new, remote way for measuring and documenting their customer’s industrial process and interacting with the customer during a product trial. Kiilto is a growing, family-owned company, which develops, manufactures and markets chemical industry solutions, such as adhesives. In just 3 weeks we were able to define the challenge, get great applications from potential suppliers (19), work with three of them to refine their proposals and choose one, Augumenta, to do a proof-of-concept with. This process proved to be a great tool for not only finding the right suppliers and new solution experiments, but also for doing it in a quick, efficient, systematic and fair way.
Read more about Kiilto’s challenge on the call for applications page.
“Hackathons are a great way to get pilots started. Companies are openly presenting their challenges and scaleups do their best to come up with solutions. The traditional B2B sales issues of cold calling, finding the proper counterpart, learning about their needs etc. are skipped and the parties get down to business on day 1. I highly recommend enterprises and scaleups to engage in these activities more often, as it’s a time- and cost-efficient way to get things moving.”
– Supplier feedback from Kiilto’s FastTrack
If you want to hear more about the FastTrack process or host one, don’t hesitate to contact Mikael Hautala +358 50 322 7007 or email@example.com