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The CampX Engagement Programs

2023-11-08
The CampX Innovation model is constituted by six different pillars and this article will dig deeper into the Engagement programs and how they can be utilized in the different phases of a startup journey. But before we explain our engagement programs it is vital to understand how different a startup is from a large corporate.
One program to rule them all?!

One program to rule them all?!

Startups face a highly changeable environment 
As a startup moves towards distinct stages (pre-seed, seed, growth, scaling), what they need and what they can offer changes continuously. Some examples of how a startup can change is Slack that started as a game, YouTube that started as a dating site and Twitter that started as a search engine for podcasts. If you compare this to the Volvo Group, we have been offering trucks for the better part of a century. The fast-paced change which is needed to survive and thrive is easier to handle as a small company compared to a large corporate. The pace of a startup also makes it hard for a corporate to support when the company develops and the corporate must adjust how much time and resources that is invested and how much risk they are willing to take. In other words: 
 

No, there is not one single program supporting all startups. 

Tailormade programs for each phase 
Therefore, CampX by Volvo Groups engagement programs are tailormade for every phase. The graph below is a visualization of what level Volvo Group is investing resources and support in the startup based on which phase the startup is currently in (seed, growth or scale). 

The CampX Engagement Programs graph
  • The Incubator enables us to scale opportunities and nurture early-stage startups physically located at Volvo Group’s premises, our first batch of 5 startups has started, and we are currently scouting for the second batch.
  • The Venture Client focuses on short demand-driven innovation projects, engaging in co-creation with startups via a Proof of Value project setup, we have currently done 70+ projects.
  • The Venture Builder is a little bit different as it starts with an internal business or IP opportunity to create new Volvo Group revenue and in that way add value to the sustainable mobility ecosystem, with currently 2 spinouts and multiple cases in pipeline.  
  • Financial Investment is a tool that exists in Volvo Group through Venture Capital to strengthen startup engagements within strategic domains. This is a tool that complements the other three engagement programs by engaging through financial investments.

Can startups move through the programs?  

Several CampX-incubated startups have quickly moved to the venture client, or “traveled” through the different programs we offer. Here’s an example of how this can work and how the programs are interlinked.

Fyrqom is a spin-off from Volvo Group, created in the Venture Builder program in 2022, working on an automatic workflow for handling tire-related activities. Fyrqom did multiple proof of value projects in the Venture Client in the last year. They are located in our Incubator and are currently working on pilot projects in multiple Volvo Group factories.
 

So, with the experience over the last years there is a clear need to meet the startups and their needs depending on where they are in their journey, hopefully towards success.  
Read more about CampX and the Innovation model in the article series found at CampX webpage.

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