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Exploring new value spaces is one of the most effective ways to discover and tap into emerging opportunities that fuel growth. It's a proactive open innovation approach that enhances a company's ability to adapt, uncover emerging customer needs, develop new offerings and stay ahead of disruption.
That was Boortmalt’s goal when it joined forces with Bundl to find new, revenue-generating applications for one of its biggest assets: malt.
Partnerships play a key role in the process, enabling corporates to work with cutting-edge startups that can help accelerate the exploration and go-to-market process. Each side brings valuable resources to the table:
- Startups provide cutting-edge technologies, business models, and concepts
- Corporations provide the funding and global resources needed to scale fast
To give you a better idea of how this dynamic works in practice, we’ll walk you through how Bundl helped Boortmalt tap into new, high-potential value spaces fueled by a customised partnership strategy that leverages its unique corporate assets.
7 new malt value spaces
With over €2.5bn in revenue, Boortmalt is the world's biggest malt producer, supplying global companies like Stella Artois, Budweiser, Corona, and others.
We kicked off our value space discovery journey with an in-depth analysis of Boortmalt’s existing assets and corporate strategy. Based on the insights, we identified and prioritised 7 new value spaces including beauty, fish feed, sports supplements, sustainable materials and more.
A deep dive into each value space was conducted to uncover relevant:
- Market trends and hero cases
- Growth potential and revenue opportunities
- Risks and rewards
- Potential business models and cost streams
In addition, we provided a practical roadmap for leveraging Boortmalt’s existing strategy and assets to create a competitive edge in each identified value space.
A new asset-driven accelerator
Once we identified our 7 value spaces, it was time to build an open innovation vehicle to explore and monetise them. That’s how Boortmalt’s asset-driven accelerator, BoortmaltX, was born. The program is designed to engage and partner with cutting-edge food tech startups and boost their development by providing them access to Boortmalt’s global assets and expertise.
Bundl spearheaded the process of building, launching and maintaining the accelerator post-launch, creating a strategy that fits seamlessly into Boortmalt’s corporate strategy and overall growth goals:
- Exploring new growth areas
- Gaining early access to game-changing solutions
- Boosting Boortmalt’s entrepreneurial capabilities
We also created the BoortmaltX website to attract cutting-edge startups worldwide and foster collaborations in each of Boortmalt’s new value spaces.
Part of what makes BoortmaltX so successful is its team of experienced, hands-on mentors who work closely with startup founders at every step of the venture development journey.
Each partnership is aimed at creating a future where fermentation, malting, and related technologies replace chemicals and animal proteins, giving consumers more sustainable and environmentally friendly food and cosmetic alternatives.
Developing strategic partnerships
With a solid acceleration program and strategy in place, it was time to start engaging and connecting with the strategic startup partners that would help bring the BoortmaltX vision to life. The program welcomes early-stage startups that operate in relevant segments to collaborate, test their ideas and turn them into thriving ventures in 3 distinct stages:
The pilot stage
This stage guides startups and entrepreneurs from early-stage ideas to their first product demo.
The beta launch stage
This stage involves helping startups craft a go-to-market strategy, exploring different financial models, refining the offering and making those first few sales.
The scale phase
During this stage, startups receive expert guidance on achieving sustainable long-term growth and support in areas like sales, marketing, and securing the funding they need to expand.
Startups that enrol in the BoortmaltX program have access to experienced mentors, a network of partners, funding, workshops, resources, and peer learning opportunities.
Shaping the future of malt
Since its inception in 2022, BoortmaltX has identified over 27 potential partners within its value spaces and a refined working partnership framework:
It continues partnering with innovative startups to build a future where cutting-edge fermentation and malting technologies replace chemicals and animal proteins, providing consumers with greener, more sustainable food and cosmetic solutions.
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Want to implement a tailored open innovation strategy that delivers? We can help you leverage existing assets to build strategic partnerships that can quickly access new markets, technologies, and revenue streams.
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