The StartupWheel
A Danish developed tool to organise and cultivate the progress of the start-up is the so-called StartupWheel
(http://www.startupcompany.com/).
The inventor David Madié has started more then 25+ successful businesses and has never written a
business plan, and has had long experience of working with universities and graduate start-ups. As stated above
the rationale for business plans are often about control and security for investors rather than being used to
support the development of the venture. That is the justification of the development of this tool; a tool for decisionmaking
in start-up and growth companies that helps entrepreneurs and advisors get focus, set agenda, and take
the next step.
The StartupWheel is being used as a platform for dialogue with start-ups as well as a concrete tool for the
single start-up. It provides the start-up, investors as well as start-up support organisations with thorough insight
and ability to change directions when needed. The constant changing environment for start-ups demands for the
ability to rapidly change plans and/or already made actions. The focus is therefore on four categories for the startup,
namely Business Concepts, Customer Relations, Organisation, and Operations. Subcategories define the
details and actions that need to be taken, so that organisations as a whole and its stakeholders are aligned in the
development. Relevant resources and stakeholders involved have by using this tool an excellent indication of the
development of the venture. Working with the tool needs certification and at the moment business advisors and
educators in many different organisations from incubators to government agencies and universities are certified.
They all customise the StartupWheel to their specific needs and the types of entrepreneurs they are working with.
Today more than 50 of these kinds of organisations use the tool, including The Danish Enterprise and
Construction Authority and universities all over the world.
One of the main advantages is the ability to use it as a one-to-one dialogue session tool between
entrepreneur and the consultant/certified person, but also as an instrument for the “homework” (development) of
the start-up and for networking. Thus the incentive and possibility to move forward is present and obvious for the
entrepreneur (and the team behind it) and saves time, money and secures focus only on what is relevant. The
use of the StartupWheel at universities provides the institutions with a tool that has credibility thanks to its many
users worldwide. Of course, other tools and initiatives are known worldwide to put the emphasis on “action” rather
than a traditional business plan that is often a descriptive exercise, and many of these tools are also good
instruments, but the extension worldwide of this particular tool shows the viability and credibility as a significant
lever for start-ups.
For more information, see http://www.startupcompany.com/. Free webinars are frequently offered for insight
and as introduction to the product