What is Build?

Build is an Austrian startup incubator on a mission to support entrepreneurs in setting up their businesses. As an incubator, they specialize in supporting projects that leverage cutting-edge technology to drive innovation and create impactful solutions. From IoT (Internet of Things) business innovations to other technology-driven initiatives, they provide the expertise and resources needed to bring these projects to fruition. 

Recognizing the importance of early-stage businesses in their growth journey, their Young Entrepreneurs Group is dedicated to supporting startups within their first five years of existence. Through tailored programs and mentorship, they help young businesses scale and thrive in today's competitive market landscape. Additionally, they identify and support regionally relevant opportunities with high potential for technology-oriented and knowledge-based startups, aiming to create value and drive regional economic progress.

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Challenges

As a Startup Coach and Business developer at Build, Egon, supports tech entrepreneurs from idea to market, aiding in feasibility assessment, business model development, and networking with investors. 

In our conversation, Egon pointed out that the incubator faced significant communication and operational inefficiencies across its incubation programs. Based on Moodle, their previous system struggled with integrating external stakeholders and lacked dynamic interaction capabilities, which are crucial for a vibrant startup ecosystem. 

The need for a comprehensive solution to centralize communication and document management was critical to save time and boost efficiency, as in a small region with decentralized communication, organizations' setting up individual events caused confusion and missed opportunities.

To support its mission of nurturing local startups and fostering technological innovation, Build needed a solution offering an efficient digital operating system.

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Solution

Acterio was introduced to overhaul Build's digital interaction space. Build chose Acterio for its user-friendly interface and the ability to integrate various stakeholders (startups, mentors, investors) into a single environment. This enabled Build to maintain a centralized repository of information, enhancing transparency and accessibility. 

Build required a complete digital solution to the challenges resulting from the current system. Acterio enabled Build to manage its entire innovation program from one platform,  increase community engagement, and guide the innovation journeys of startups.

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Implementation

The onboarding process involved personalized sessions with Acterio’s COO, David, and Acterio’s customer success team, who directly engaged with stakeholders to facilitate a smooth transition and ensure the platform's comprehensive understanding and usability.

The customer success team’s hands-on approach and regular communication have ensured a smooth onboarding process. David’s in-person presence allowed valuable feedback exchanges with stakeholders and startups, facilitating a deeper understanding of Build’s needs. Monthly meetings with the customer success team provided opportunities for feedback and quicker issue resolution.

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Outcome

Since adopting Acterio, Egon tells us that Build has notably improved operational efficiency and stakeholder engagement. The platform has become a key to managing incubation programs, where it supports document sharing, event scheduling, and information flow. This has made internal processes smoother and significantly enhanced the connectivity and resource accessibility of their startup ecosystem.

• Operational efficiency: Acterio’s centralized platform reduced the time spent organizing documents and scheduling events. For instance, it replaced the need for Moodle and emails with a cloud-linked system where all startup data is accessible in one network.
  
  
• Stakeholder engagement: The platform facilitated more dynamic interactions within the ecosystem. An example given was how Acterio allowed for a better presentation of each stakeholder's role and responsibilities, which is crucial for new community members to understand the ecosystem’s structure

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• ‍Event management: The ease of posting and updating events on Acterio led to higher attendance and engagement. A specific incident noted was forgetting to list an event on Acterio, which resulted in significant feedback from users accustomed to finding all relevant information in one place

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Future Prospects

Looking ahead, Build envisions expanding Acterio's capabilities to encompass tools for startup scouting and network management. They aim to integrate manual roadmap processes into Acterio, transitioning from older documents to a more dynamic and visual journey mapping system. The platform's event overview feature has proven invaluable for quicker information distribution and streamlined communication within the ecosystem.

Moving forward, Build anticipates further enhancements, such as a chat function and improved mentor visibility, aligning with their long-term strategy of facilitating effective networking between startups and relevant stakeholders. At one point, Build considered other platforms and even contemplated building their own app. However, they recognized that Acterio's unique value proposition—seamlessly integrating incubation program management and ecosystem coordination—made it a compelling solution for their needs. This combination offered the comprehensive functionality and user-friendly experience essential for supporting their mission effectively.

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Acterio has added value to Build's startup incubation programs by streamlining communication, enhancing operational efficiency, and fostering dynamic stakeholder engagement. The platform has simplified document management and event scheduling, enriching the collaborative environment essential for the success of young startups. With plans to expand Acterio’s capabilities, Build is well-positioned to continue nurturing innovation and driving regional economic growth.

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If you’re ready to elevate your startup incubator's efficiency and connectivity similarly, discover how Acterio can transform your operations. Contact us today to learn more and start your journey toward a more integrated and dynamic ecosystem.

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