Eindhoven-based design firm OWOW is launching its own venture studio this fall. With 12.5 years of experience in digital product development, OWOW hopes to help startups minimize their failure rate. As temporary co-founders, the firm will provide its expertise and resources. OWOW aims to offer two promising startups per year support in strategy, product development and go-to-market.
OWOW focuses on B2B software in automation, eID, Web3 and AI with the goal of improving 1 billion lives through better-designed technology. This approach promises to overcome the “valley of death” phenomenon and dramatically increase startup success.
What is a venture studio?
Venture studios are not a new phenomenon. Based on the principle of companies building other companies, the model was first introduced by Bill Gross after Idealab was founded in 1996. Venture studios generate startup ideas in-house and match them with experienced founders to help launch the startup successfully. The model offers a combination of financial investment and operational support, allowing startups to grow faster and more efficiently than traditional methods.
What does OWOW want to add?
OWOW’s approach expects to add value “by being directly involved in the development of startups.” This includes access to a network of software developers and designers, as well as a playbook for efficient execution. Startups can benefit from the accumulated knowledge and experience of the 35 designers within OWOW. In addition, OWOW provides them with a network of potential customers and investors.
“Our talented team of people believes they can make a big difference by supporting and nurturing startups,” co-founder and CEO Robin Dohmen said on LinkedIn. “We do that by investing not only in capital, but also in venture and product development expertise, high-performing product teams, and a large network of potential launch customers, as well as a network of investors.”
To manage all this, OWOW has appointed Elliot Rayner as head of growth in order to “become one of the leading product and venture studios for the next decade.” Rayner previously worked at Adidas and Babel.
Benefits of a venture studio
According to a recent survey, startups from venture companiesVenture studios have a much higher probability of success: 84% of these startups reach a seed round and 72% achieve Series A funding. This success is due to venture studios’ early involvement and hands-on management approach. OWOW’s model fits well into this trend by providing startups with the right resources and guidance.
“We will be recruiting carefully selected ventures,” says co-founder Peter Jan Peters. “They will become part of our studio and develop scalable B2B software in areas such as business automation, eID, Web3 and AI. These ventures will therefore directly add value to OWOW’s extensive customer network, providing deep market insights and a strong new customer network for new ventures.”
Preparing for the next decade
“Our venture studio is poised for the next decade and the next level. We are on a mission to impact at least a billion lives through better-designed technology,” Dohmen wrote. “It’s a shame that so many great ideas and teams still fail and don’t reach their full potential. Especially in the Dutch and European markets, the so-called ‘valley of death’ is well known to most. And yes, we’ve been there too. We use many of the lessons in our daily lives when building and investing in technology ventures.”
