The Data Refinery
This is what it is
At the heart of the Startup Project Europe™ lies the Data Refinery, a set of self-learning mathematical algorithms that enable you to determine the key factors affecting the success, failure and recovery of your startup or startup portfolio and to respond quickly. The algorithms are unique, interactive and able to process specific organizational variables, in the absence of others.
The traditional mathematical instruments of choice use ‘least squares’ algorithms to ‘reverse engineer’ outcomes to underlying factors. Unfortunately, these types of algorithms possess a fatal flaw connecting success or failure in new ventures to the underlying factors. ‘Least squares’ allows for negative amounts of these factors! Imagine the recipe for pizza allowing for negative amounts of ingredients: 1 crust – 2 cups of toppings + 20 minutes in the oven yields 1 pizza……
Fortunately, there is another type of mathematical instruments that does not. At XSeed Technologies, we have developed this type into a proprietary set of algorithms, specifically fit to determine the causes behind the success, failure and recovery of new ventures. This proprietary set is the beating heart of our unique Data Refinery.
The NOT so usual suspects
Working with these algorithms and new ventures has shown that:
- The ‘usual suspects’ of failure, such as insufficient customer traction, lack of product-market fit, or an inadequate team, are consequences instead of causes;
- The real culprits come from a set of about 90 ‘trivial’ factors, across seven domains and related to ‘who is your customer’, ‘how does your customer acquire your product’, ‘how you design and manufacture your product’, how do you run and scale your business’ and some more;
- The lion share of failure is caused by persevering interactions between small clusters of these factors;
- The composition of these clusters differs by industry and by life cycle stage.
Enterprises are unique. So are startups and scale - ups. That’s why we provide the possibility to incorporate your own unique choice of organizational variables into the refinery.
This is how it works
Step 1. Click on the ‘Data Refinery SaaS’ button
Easy does it!
Step 2. Fill out the select set of questions
This select set will provide you with an analysis of the key factors of success, failure and recovery, their interrelatedness in every stage of development and what you can do about them. You will be able to predict early in the process the ventures' likelihood of survival.
Step 3. Have some patience
The self-learning algorithms determine the impact of factors on your venture's success and failure.
Step 4. Receive your online analysis
Receive online a comprehensive, coherent and cohesive analysis that describes how of the underlying factors, individually and collectively, are driving your performance.
Step 5. Act
Now it is your turn again. Make your decision how to move forward, where to pivot, or whether the time has come to 'pull the plug'....