Research problem:Too many Startups fail at some stage during the Startup process.Due to my experience as a serial founder of startups since the 2000`s , and as current founder and practitioner in Peel Startup Studio, I have read relevant theory and spoken with lots of stakeholders within the “innovation theatre” for many years. During these years I have seen a lot of startups fail, due to a myriad of reasons, both in Norway and internationally. When I studied at Massachusetts Institute of Technology (MIT) in Boston-US, one of my main reasons for studying there was to attend Professor Bill Aulet`s class about an innovation process for startups. I was curious to find out whether such a process could prevent more startups from failing, and whether the process and his theory would support my own reflections about how to build an innovation process specified for startups with a holistic view of how to build a startup company.
Research aim:I wanted to interview two startups, to find out to what extent they were aware of their strengths and weaknesses, because I assumed that they would not know.
Methods:I used an Action Research method and Mixed Methods to investigate the research problem.
Results:The startups were grateful for learning a lot during the research process, and they expressed that the Startup Matrix tool I used in the process was very helpful to them.
Implications:Startups “don't know what they don't know”, and they don't know how to find out so they just head on in an unstructured way. The Startup Matrix that I made solved this problem.
Keywords:Innovation processes, Startups, Startup Studio, Strategy, Startup-SWOT, Startup Tools.