Benefits
Benefits for Entrepreneurs
Learn a proven and practical innovation/strategy methodology that can be used time and again. Join the Blue Ocean Awards ecosystem (150+ international organizations: investors, corporations, incubators, public institutions, etc.).
The process “wind tunnels” their offerings to ensure they have a sound business model, driven by a higher value proposition at a lower cost to what is available on the market.
Ongoing mentoring from their incubator partner and local and international innovation experts.
Deepen financial inclusion by de-risking the young entrepreneurs reducing barriers to funding. Over 90% of Blue Ocean Awards winners were financed within 6months of winning.
Benefits for Incubators
Learn the Blue Ocean Strategy methodology, a proven and practical innovation/strategy methodology that they can apply through their organization and with others entrepreneurs over time.
Receive the toolbox of program methodologies, fieldwork guides, reference material and online platform.
Be a part of an ongoing platform with key stakeholders advising your entrepreneurs to dramatically reduce the barriers to execution.
Join an international network of incubators across Africa and Europe, with a wider access to international investors and corporate representatives through the Blue Ocean Strategy Awards.
Benefits to Local Governments
Align local social and economic needs with the entrepreneurial power of local young entrepreneurs.
Learn Blue Ocean Strategy methodology, which has been successfully used in government settings from the European Union to the White House.
Have the ability to engage with key stakeholders (private/social/national/international) in a co-creative environment based on common objectives.
Recognition of your support of a local employment growth initiative with disproportionate factors of influence based on higher value at a lower cost.
Benefits to Corporate Sponsors
Learn more about your customers and non customers from their perspective, gaining critical consumer insights by providing advice and guidance to young entrepreneurs and incubators.
A low-cost corporate social responsibility sponsorship that has proven to build stronger customer loyalty, improved employee morale, and access to new markets by aligning with social and environmental goals.
Learn the Blue Ocean Strategy methodology, a proven and practical innovation/strategy methodology that they can apply through their organization and with others entrepreneurs over time.
Develop relationships with government, social movement, and local business stakeholders in a co-creative setting with international media visibility.
Program Overview
In this initiative, we will lead teams of entrepreneurs to learn how to apply Blue Ocean Strategy concepts, tools, and frameworks to build upon their entrepreneurial ideas and create a series of breakthrough strategic options for their start-ups.
The initiative will use a proprietary online platform for four module workshops and sub-group meetings scheduled on a bi-weekly basis.
These four modules are integral to the BOS process:
Visual Awakening
Visual Exploration
Milestone/Calibration
Visual Strategy Fair
KICK-OFF EVENT
(1.5 Hours)
The kick-off workshop is designed to introduce the project cohort and stakeholders to the initiative’s objectives, methodology and technological platform. We will then provide an overview of the strategic logic, tools and frameworks they will learn during Blue Ocean Corners.
Deliverables
Learn about Blue Ocean Corners and the objectives they need to meet individually and as a team.
Provide an overview of the strategy and innovation tools and frameworks they will use over the next few months.
Get to know the different stakeholders, entrepreneurs and sponsors.
Introduce the technological platform they'll use during the program.
VISUAL AWAKENING MODULE
(4 Hours)
The Visual Awakening Workshop will kick-off the initiative with a deeper discussion on the strategy and innovation tools and frameworks they will use over the next few months. We will quickly move to action and learn how to create a Visual Awakening, which is the critical first step to understanding each start-up’s competitive environment. We will learn how to create a snap-shot of their competitive environment with the "as is" strategy canvas. Then the teams will be introduced to the Buyer Experience Audit, whereby they will gain a deeper understanding of their offering from their customers’ and noncustomers' perspective.
Deliverables
Introduction to Blue Ocean Strategy/Value Innovation.
Learn how to gain insights into their start-up’s organizational culture, strategic intent and relationship with buyers.
Master the ability to capture their strategy in one picture by charting the "as is" strategy canvas.
Begin to chart your buyer experience cycle and learn how to identify hidden customer pain points with the buyer experience audit.
Establish the foundation to create new demand.
VISUAL AWAKENING FIELD WORK
(3-4 weeks)
Each team will conduct fieldwork to validate/refute their preliminary "As Is" Strategy Canvas(es) and Buyer Experience Audits.
BOS coaches will assist in developing a plan to conduct this work and will have weekly check in meetings with the teams to ensure they are on the right track.
Deliverables
Complete assessment of current strategy, industry conditions and buyer “pain points.”
“As Is” Strategy Canvas(es).
Buyer Experience Utility Audits.
VISUAL EXPLORATION MODULE (4 Hours)
The Visual Exploration will be the most expansive, creative and challenging module. The workshop will begin with a review of the entire BOS process and how each section builds on the previous one. Then entrepreneurs will learn how to use the Six Paths Framework, the “create engine” of Blue Ocean Strategy. Through short working sessions, participants will be able to get the feel of the Six Paths so as they can test drive the framework and have any questions answered.
Deliverables
Calibrate Visual Awakening findings.
A deep understanding of the Six Paths Framework - the "Software of BOS.”
Define core utility and noncustomer groups.
Preliminary findings in reconstructing market and industry boundaries.
Fieldwork market exploration targets identified.
VISUAL EXPLORATION FIELD WORK
(4-5 Weeks)
Using the creative control and structure of the Six Paths Framework, with the assistance of the fieldwork interview/observation guide, the teams will capture insights from noncustomers within and outside of their industries.
Deliverables
Learn how to conduct noncustomer research in their target markets.
Begin to form noncustomer insights into a new strategy for their start-up.
Early insights into the series of "to be" strategic options.
BOS coaches will conduct weekly check in meetings with the team
VISUAL STRATEGY CREATION MODULE
(4 Hours)
As the entrepreneur teams work closer to their final strategies, this workshop will assist them in forming their “to be” strategies. We will review the Six Paths fieldwork to identify any overlooked patterns of strategic insight. There will be an introduction to the Eliminate-Reduce-Raise-Create (ERRC) Grid, a central tool in ensuring higher value at a lower cost.
Working with BOS coaches the entrepreneurs will begin to reconstruct their strategies based on their observations and interactions in the two previous modules and field work. We will begin by reflecting on what we've learned in the previous workshops and develop a new way of doing business across borders online. Next the teams will reconstruct their strategies. Key to the process is identifying what to eliminate, reduce, raise and create in their value proposition. Each team will create a portfolio of business models for their “to be” strategies after this module.
Deliverables
Learn the mechanics of value innovation: creating higher value at a lower cost by using the ERRC grid.
Continue to develop their “to be” strategies - they should be nearly 80% complete.
The entrepreneur teams, with BOS coaches, will begin developing the final portfolio of strategies to be presented in the Visual Strategy Fair.
VISUAL STRATEGY CREATION FIELDWORK
(2 Weeks)
Each team, with BOS coaches, will develop their final portfolio of strategies to be presented during the Visual Strategy Fair. The visual strategy creation stage is where we finalize team’s “to be” strategic options that simultaneously pursue differentiation and low costs to break the value-cost trade-off.
Deliverables
Select ‘best’ strategic options and develop presentation outline for Visual Strategy Fair.
Complete their “To be" strategy pitch deck with business model, market potential and overall visual presentation.
A set of powerful “To Be” Strategies ready to be presented at the Visual Strategy Fair.
VISUAL STRATEGY FAIR (4 Hours)
During the Visual Strategy Fair, the teams will present their strategies to their stakeholders, outside judges and colleagues. It is a chance for them to compete for a place in the final set of strategies that will go through an additional 4 month long mentoring stage. After each presentation there is an opportunity for the other teams and company representatives to provide feedback. The objective of the Visual Strategy Fair is to open up the strategic options the teams have developed to external feedback, calibration, and validation of a breakthrough strategic idea. We will conclude the session with a vote from the judges. The top (7-10 TBD) “to be” strategies will go on to the International Blue Ocean Strategy Awards after the 4 months of fine-tuning mentorship stage with their mentors (accelerators and BOS coaches).