Keys for a great BIND Application
Are you a tech startup looking for Proof of Concept or your next big-name Client? You have the potential to reach 70 Corporate Clients through your application to the BIND 4.0 Open Innovation & Acceleration program.
BIND 4.0 provides Industry 4.0 startups and scale ups with the opportunity to present their solutions and work with Industry-leading Corporate Venture Clients, and the first step is the application form.
We want to help you to present your company in the best way and clarify the challenges you are solving. By planning out who you can work with and targeting the needs of the Corporate Clients, your solutions will be identified clearly and quickly.
Startups are notoriously pressed for time and pulled in various directions, but we encourage you to invest time in your BIND 4.0 application as the benefits could be life changing. Let’s review a few key tips you can focus on in order to submit the best application.
PLAN
Watch our Corporate Partners videos to see what technology they are seeking in this edition. As they will review applications and request pitches, the Corporate Venture Clients make the final decision on which Startups are selected. It is KEY to know what they need and what challenges they present in order to target your video and application.
This is the Research stage, important for any project. In this research phase all you have to do is watch and listen, here is the list of participating Corporates and the challenges they are facing.
This year, we have the addition of 12 Use Cases, review each one to see if your solutions are applicable. You can select up to three Use Cases in your application if appropriate. Remember, you can apply even if you don’t have a solution for a specific Use Case, we are always interested in a variety of Industry 4.0 technologies.
PREPARE
Explain what your solution does and the differentiation and value compared to other Startups working in the same field. Apply those differences to your advantage as you present your solutions to the Corporate Clients you are addressing in the application. Remember your application can be seen by all 70 Corporate Partners across verticals, so consider these tips to get their interest.
Here are 3 Tips for making a great impression in your BIND 4.0 Application with a breakdown of how to respond in several different sections of the application form.
TIP 1:
Startups need to clearly define what challenges their solution targets and how the Corporate Venture Clients will benefit from their technology. Make it clear what sector(s) your solutions apply to as we have several fields of interest.
TIP 2:
Explain in as much detail as possible and in simple terms what you’re working on and what results you plan to obtain in the near future. Use layman’s terms meaning, not too many acronyms and terminology that only experts in your field will know – explain what you can do not necessarily how you do it. Explain your value proposition, what the client will gain from working with you. (For example: energy savings, lower CO2 emissions, reduced risks, less downtime, etc.)
PRESENT
We ask applicants to create a short 2-3 minute video which introduces the team and solution and addresses the BIND 4.0 Corporate Clients needs so they know what technologies and services the startups offer.
We advise you to use the video to explain one project or product, not your entire catalogue. It’s better to be clear and specific with one solution than to show too many things. Don’t worry about the quality of the video, we just want to hear in your words, what you plan to do.
TIP 3:
Create a video just for your BIND 4.0 application. Don’t let this step slow you down, prepare a quick script and get in front of the camera to share your motivation and value proposition.
We are seeking collaborations where both parties grow. In the application, be prepared to share what type of help your Startup needs in order to grow and be accelerated. Our mentors and partners are willing to help, they participate in this program looking for new teams to collaborate with. During the selection process they will study how they can help and compliment you.
Finally, prepare your application well and submit it as soon as possible, our team is actively scouting applicants and reviewing applications.
If you have further questions when preparing your application, or if you’ve already applied and want to improve upon what you sent, drop us an email anytime. Apply before the September 8th, 2023 deadline. We look forward to seeing what you’ve been working on!
