Executives from 30 Belgian start-ups and scale-ups that provide digital solutions to industrial companies weighed in on our 2018 Industry 4.0 report, the first of its kind in Belgium. This study by PwC sheds light on the start-ups’ value propositions and go-to-market strategies, as well as their perceptions, challenges and next steps related to the Industry 4.0 ecosystem in Belgium.
START-UPS SEE BELGIUM AS A SPRINGBOARD
As the current start-up landscape is largely technology driven, a great deal of time and effort is spent on determining and developing the right applications and business value. Start-ups are ambitious and generally view Belgium as an exploration market within which to test their products and strategies before breaking into larger markets.
INDUSTRIES OVEREMPHASIZE OPERATIONAL EXCELLENCE
The solutions offered by start-ups mainly focus on improving the operational performance of industrial companies, which is in line with the expectations of Belgian industry. However, this is only a subpart of Industry 4.0 and won’t singlehandedly bring companies to full ‘digital champion’ maturity. Setting up digital product and service offerings and strengthening customer access with new business models are just as important.
PROOF OF CONCEPT (POC) BRINGS SOLUTIONS TO LIFE
Start-ups showcase their offerings with PoCs, which enable companies to explore the added value of a solution. PoCs are developed within a short time frame – generally less than three months – and at relatively reasonable costs. They provide the client with a real-world view of a product’s application and are therefore an important step in building a business relationship with a company.
This is the executive summary of a white paper published by our partner PwC Belgium. Download the full white paper here.