IAV, a major player in the automotive industry, recognized the significance of innovation in enabling growth and launched the Disrupt IAV campaign through its Digital Lab to explore new business models and accelerate the development of high-potential projects.
IAV made significant progress in enabling technologically viable innovation but the team faced the challenge of building a structured process to identify and validate business opportunities.
Further, with the automotive industry shifting towards software-defined vehicles (SDVs) due to advancements in technology and the growing importance of software in vehicle functionality, the team searches for real disruptive ideas with great potential for business impact. MVP Factory's goal was to ensure that the business models developed would help IAV secure its market position amidst increasing competition.
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What we did
We conducted a corporate asset analysis of IAV and looked into the automotive market trends and the search criteria for new business models and opportunity spaces. This allowed us to acquire a comprehensive overview of the market and IAV's position.
We quickly validated the top two signals by using a hypothesis and validation log to test the most critical hypotheses through interviews and desktop research. This resulted in two compelling pitch decks including product mockups, which were presented to the IAV board and won approval for extensive validation.
We executed both quantitative and qualitative ideation processes in parallel. In the quantitative ideation, we organized ideation workshops and problem interviews, as well as business model challenging workshops. For the qualitative ideation, we created a long list of over 1,600 business model signals. These signals were systematically shortlisted based on predefined fit criteria, resulting in a shortlist of the most promising signals.
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Value delivered
Successful Validation of High-Potential Innovations
Through the Disrupt IAV campaign, we successfully identified and validated two high-potential projects, that are in line for approval for full validation - this marks a significant step forward in IAV's innovation journey.
The MVPF structured approach ensured that the innovations were technologically sound and aligned with customer needs and market trends.
This campaign has received strong support from upper management, further setting the stage for IAV to enhance its competitiveness and adapt to the evolving automotive landscape.
As of today, we have started the validation phase with 5 out of the 6 Projects from the campaign, including both with MVP Factory`s direct Support.
"The external perspective with the approach of a venture builder and the collaboration within the team have yielded very good results.
The humans behind this project
