How long does it usually take to go through all four phases and what type of investment fits every stage?

After introducing our Startup Progress Barometer, we got quite a few responses about the time it takes to go through the different phases. Someone even called it crazy talk that it takes 3 to 6 months to define the problem and solution. So let’s dive a bit further into the journey to product/market fit, the time it takes to get there and what type of investment is most suitable for the phase you are in.

As you can see in our NEXT Progress Canvas above, there are roughly four phases every startup goes through to get to product/market fit. At…


Most of us run experiments as part of the validated learning principle. Even more (corporate) startups use the pirate metrics to measure customer engagement. But how can we effectively measure the performance of our innovation activities? How can we compare one corporate startup to another? Is that even possible?

While working with hundreds of startups and corporate innovation labs in the last few years, we started to develop our own innovation accounting framework. Because we started to see patterns and felt the need to make the progress of startups measurable and transparent. …


The Business Model Canvas (BMC) is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances.

In other words, the BMC is a design tool for the creation or renewing of business models. The BMC is often used during ideation sessions and to regularly check the viability and feasibility of business models.

The NEXT Canvas, however, is a product lifecycle framework used to test business models and track the progress of an idea turning into a validated…


When looking at the success of startups, a common belief is that one third of the companies fail, one third return their money and one third of the companies become successful enough to really move the needle on your investment portfolio. But is that true?

Correlation Ventures did research on all VC investments in the US between 2004 and 2013 to figure out the distribution of over 21,000 different investments. It turns out that close to 65% only returns up to 1x the initial investment, and only 10% returns an ROI bigger than 5x. …


The topic of how to structure the perfect corporate innovation lab comes up regularly when talking to innovation managers.

Some corporates have one big central lab where all innovation happens. It’s a separate department or business unit with its own resources and budget. The down-side of this is that innovation happens far away from the day-to-day business. It is sometimes perceived as the playground where the cool guys go to have fun. But when a team is disbanded, it is also often hard to get the team members back into the “normal” business. …


NEXT Amsterdam is lead investor in the pan-European investment round funding Austrian startup Butleroy. The European Super Angel Club syndicated the round, bringing prominent Austrian and German angel investors together to invest in Butleroy.

The AI startup, formerly known as myAlfred, has changed its name to Butleroy now that it has closed a round of mid six figures. Butleroy was also admitted to NEXT Amsterdam’s long term acceleration program and has started working with them as from September 2017. …


Creating and running startups as part of a corporate is hard. It’s because the whole organization of a corporate is heavily optimized on execution. And that is how it is supposed to be!

Startups however are searching. Searching for a business model that works and can only start executing when they’ve found that working model.

A startup can not run, before it can walk

To be successful in searching, the whole startup team needs to be able to search. From the product owner to the developer. You need people who are persistently flexibel in their thinking. People that can accept…


The Business Angel Institute (BAI) is set up as an independent initiative with the aim to foster the business angel ecosystem in Europe. The BAI is offering a high quality training program for early stage investing. The early stage training program builds a solid foundation for successful angel investing. It delivers specific best practices as well as underlying principles and a broad spectrum of perspectives.

Together with NEXT Amsterdam the BAI is expanding its program to the Netherlands. The first courses will be given during the Amsterdam Capital Week on September 25 to 28. …


The European Super Angel Club (ESAC) is a pan-European angel network, operating out of Vienna, Austria. The initiative promotes expertise, exchange of experience, and financial support for European talents. The focus is on startups in an already more advanced stage.

At the heart of the ESAC are the recurring roadshows, in which five selected startups are presented at several European hubs to network partners, innovation-seeking groups and investors. As a special incentive, the club’s board of directors invites selected startups to “satellite events” — with the last one taking place in New York City.

With NEXT Amsterdam as their local…


Berlin-based Med Angel offers a smart temperature sensor, combined with a companion app to always keep your medicines at the right temperature. Med Angel solves a clear problem for people using temperature sensitive medicine and is already keeping hundreds of people safe.

NEXT has had an advisory role for the last two years and the investment is a logical next step. Med Angel will participe in the NEXT program for at least the coming year, where NEXT specialists will help Med Angel hands-on to find the perfect working and scalable business model.

The investment is made with NEXT’s new convertible…

Timan Rebel

Managing Partner at NEXT Amsterdam. Startup founder turned investor.

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