Day 1 of Startupbootcamp HightechXL - 101 Days to Demo Day

A new journey has begun. Day One of the what's going to be the world's best hardware accelerator. I've never seen such mentor involvement so soon in a program. And the official "meet the mentor days" have still to happen. Eindhoven rocks - you'll certainly be hearing more from these guys.

World’s 11 best high-tech startups head for Eindhoven

5000 hightech hardware teams were screened, 850 approached, 250+ signed in for the program.  In the end 21 teams from 9 countries were invited to the two-day finals in Eindhoven. 

We started the finals with the story so far.

Over an intensive two days, the teams presented and discussed their disruptive technology with investors, entrepreneurs, professors and high-tech specialists. One team from India was prevented from joining us in person by the typhoon affecting that part of the world. But we had intensive video exchanges for several hours in order to give them a fair chance.

Guus Frericks, CEO of Dutch Expansion Capital is one of the lead initiators behind Startupbootcamp HighTechXL. He says that mentors, investors and the whole production team have been amazed at the really high level of all these teams. 

"We're used to slick pitches from those in the web and social media space. But these teams take real science you can touch and feel to the cutting edge. It reminds me that famous brand hardware companies began as small teams with a passion to invent what most of us now take for granted. We've seen living proof this week that it is still possible for dedicated teams to disrupt traditional industries. We were surprised to see "Demo Day" quality potential before we've even started! Diamonds in the rough..."

In the end the following teams were selected for the 2013 program starting on November 11th. 

Ingeny (The Netherlands)

Mint Solutions (Iceland)

Prospero BioSciences (Germany)

Watly Lively water (Spain)

AquAszero (Greece)

Dermonitor (The Netherlands)

ThinkSilicon (Greece)

Green Earth Aerogels Technologies (Spain)

Sensus Energy (The Netherlands)

Stalactite.3D Printers (Spain)

Proxible (The Netherlands)

Winners Never Quit

The trip to the South-Eastern part of the Netherlands paid off for all the teams, even those who didn't get in this time. Guus Frericks encouraged those who were not selected not to give up. “The level was high to start with. Everyone gets insights to take home. And the networking and discussions with investors and mentors is already in full swing. We encourage all the teams to take advantage of the momentum and follow-up on the leads.”

Probing the Team Dynamics

We're coming in the last few days of the selection process for this season of Startupbootcamp HightechXL. But we can already see that access to brilliant mentors are one of the main reasons for a high-tech startup team to choose a particular accelerator program. Only a few focus as we do on hardware high-tech, but as the Internet of Things morphs quietly into the Internet of Everything (at least CISCO would like us to believe that), it looks like this a just the right moment to add the hardware side. And just as the teams pick and choose their accelerator, so we pick and choose team. As Richard Branson wrote recently, 

There is nothing more important for a business than hiring the right team. If you get the perfect mix of people working for your company, you have a far greater chance of success. However, the best person for the job doesn’t always walk right through your door.

The first thing to look for when searching for a great employee is somebody with a personality that fits with your company culture. Most skills can be learned, but it is difficult to train people on their personality. If you can find people who are fun, friendly, caring and love helping others, you are on to a winner. That doesn’t mean you can’t take risks when building your team. Don’t be afraid of hiring mavericks. Somebody who thinks a little differently can help to see problems as opportunities and inspire creative energy within a group. Some of the best people we’ve ever hired didn’t seem to fit in at first, but proved to be indispensable over time.

Guus Frericks is the manager of Startupbootcamp HightechXL. He believes we can go further that just that gut feeling.

Guus Frericks, Startupbootcamp HightechXL

"As entrepreneurs, we know that team dynamics are the key differentiator for successful start-ups. So during our Final Selection days on October 14 and 15th we've partnered with InContext to do some rather sophisticated personality assessment of the finalist teams. So rather than just relying on the intuitive approach that Branson refers to, we're also using technology to explore strengths and weaknesses. That helps our selection teams ask some explorative questions. And all the teams, whether they get in or not, will get access to their respective team reports. These are a great way of understanding the team dynamics and what motivates (and really annoys) others. Some of the missing talent you can hire in when needed. But there are also things that founders should never delegate to others until they have validated their business model canvas"

We have also been talking to other mentors in other programs, making this compilation of views on why mentors matter. Enjoy. 

The Value of Mentorship 1 from StartupbootcampTV on Vimeo.

Why Mentors Matter & How To Select the Best

Working through the Business Model Canvas

We just completed the first of two Mentor Master Classes for Startupbootcamp HightechXL.

At first, it might seem strange that an accelerator would organise a master class for their mentors. Surely, they already know everything there is to know about entrepreneurship? Indeed several have started up companies on the Hightech Campus which were later sold for hundreds of millions of dollars. Yet we are taking a different approach with our accelerator. We're cherry-picking from the Lean Start Up methodology and adapting it to fit the world of high-tech startups. Since hardware is involved the money needed is more substantial and you can't change a minimum viable product by tweaking a few lines of code. But the rewards are also bigger if you get it right.

Last week, Startupbootcamp HightechXL organised its inaugural Master Class for mentors. It was designed to explain the Business Model Canvas approach we're taking and what we've adapted. It was also a chance for two startups to explain their challenges and how mentors really make a difference. Michail Boloudakis Co-Founder and CEO of Kinems, one of the 9 teams selected for the 2013 Startupbootcamp program in Amsterdam. He came down to Eindhoven to explain the challenges of building a company that helps builds games for children with a learning disability. In my personal opinion, Kinems was one of the best teams to come out of the Amsterdam program.

Michail Boloudakis explaining the lessons learned by Kinems

Michail was clear that they were looking for mentors with very specific qualities.

"They must be an entrepreneur. We tended to avoid consultants because they often explain theory rather than practice. Entrepreneurs understand the pressures when things go wrong, as well as how to validate hunches with real customers. They speak from recent, practical knowledge and always keep trying. We also looked for mentors willing to open up their network, even though they know the startup is still at the early stages of development and may pivot. Having said that, the startup also needs to show initiative (i.e. following up suggestions or saying why the contact is not relevant). Good communication is essential.

"In the beginning you get a whole avalanche of advice, both on selection days but also in the first weeks of the program. We listened to all the advice. But we also had done a lot of homework.. We arrived at Startupbootcamp Amsterdam with something like 11 Business model canvasses already worked out. We knew where our weaknesses lay. I cannot stress enough that preparation is essential because there is no time during the program."

"I have a very specific recommendation for the teams joining Startupbootcamp HightechXL to do during their first few weeks of the program.  Be very clear as soon as possible about what kind of expertise you’re looking for. For instance, I knew we needed sales advice (cold calling, etc). Rather than wait for something to pop up  in the program, I used our mentor network and was talking earlier than others to someone who runs a sales accelerator. Our team got a lot of useful advice as a result of being pro-active."

"That preparation in the beginning was worth it because we clearly made the right choice of mentors. That's because even though we're 6 months further in our development, the lead mentors we chose are still on board. Because their skills are still relevant."

"The Amsterdam program is now over. Our technical support has moved back to Greece. But our headquarters and our sales team is based in the Netherlands. This part of Europe is an important market for us and it's a good base from which to plan our global expansion. We've found it an excellent environment for entrepreneurs. The Dutch are very focussed on the bottom line and deadlines. And they say what they mean. That takes some getting used to, but it means you identify problems so much faster. There is also none of the hierarchy that you find in other countries.  The mentors lend their credibility to the program. For instance, when we were talking to a hospital in Ohio, they immediately asked for references. We were able to report that we were doing trials with a Dutch therapy centre, through our mentor circle at Startupbootcamp.  That made subsequent acquisition so much easier. Lead customers often don't want to be the first customer.

Selecting the Finalists. What is happening now!

We're getting questions from startup teams about finance as well as the selection procedure. Time to put those points to Guus Frericks, CEO of Startupbootcamp HightechXL in Eindhoven.

How will you know if you’ve found the right team?

We are looking for breakthrough innovations. That means they have some kind of game-changing element, which has the potential to disrupt the whole sector in which they are playing. If that disruption is happening in a growing “end market”, then we know from previous experience, that this is exactly the kind of successful teams we’re looking for. We have a wide range of expertise, especially in entrepreneurship and finance in our core selection team. But, we’re not doing it all alone. We’re selecting the final 100 with the help of brilliant mentors who have signed up for our program.

And when it comes to the final 20, we’re doing something that is unique. We’re partnering with InContext.nl, a renowned firm of human resource consultants. They will assess each member of the team, looking at various aspects of their personality. That will help us judge how the founders will work together under the intense pressure that our program demands. This will be very useful for each finalist team, whether or not they are in the top 10. The report shows exactly the strengths and weaknesses present in each team. And when you know that, you can take action. It may seem strange to be bringing psychologists onto the High Tech Campus. But we know it works because we’ve done the same test on our own Startupbootcamp HightechXL team.  

In The Netherlands, when it comes to tech startups, the media hype is mainly about web and mobile, even though there are some really remarkable companies in more high-tech sectors. How is Startupbootcamp HightechXL different?

I believe everything is in place for a successful program. We are funded for three years, so this search for teams is ongoing. We’ve announced 8 areas of high-tech that are proving to be the fastest growth areas in the coming 5 years. As a start-up ourselves, we will adapt and develop along with the teams we bring on board.

We’ve made a decision to set the bar high from Day One. Teams need to show us a prototype of their idea that they believe is ripe for accelerated development. They also need to show that have a close-knit, complementary team to bring their prototype to launching customers. Our need for a hardware prototype makes us different from the rest of our colleague accelerators.

We’re also standing on the shoulders of giants. We’ve followed how others have built successful programs. We have similar experiences to Eric Ries, the developer of the Lean Start-Up methodology, together with Steve Blank. We believe that successful accelerators need to be run by entrepreneurs with the academic, business and government world’s feeding relevant expertise and support.

But we also realize that high-tech accelerators have different dynamics. Whereas teams can often bootstrap a sufficient runway to create a piece of software, building a sensor or a chip takes much more money upfront. We’re fortunate that in this area we have enthusiastic investors.

We see our job at Startupbootcamp HightechXL is to ensure that our winning teams get access to serious capital. We’ve prepared separate videos to explain access to money to startups. 


We know that teams in our sector need access to between 0.5 and 2.5 million Euro. We have all the experience in our Startupbootcamp HightechXL team to make that happen.

What is the state of the European high-tech ecosystem right now and what is its place of Eindhoven on the world "map" of high technology?

For the general public, Silicon Valley is the birthplace of social media and search engines.Most of the companies in this part of the Netherlands are well-known to handset manufacturers such as Apple, Samsung or Motorola. The speed of their connected devices is determined by the high-precision equipment developed by ASML in the Netherlands. In short, they enable the manufacturing of the chips found in 90% of the world’s smartphones. But the general public doesn’t know about this side of the story. These are not consumer brands. Intel often stickers on the side of PC’s saying Intel Inside. I believe every connected device could carry the slogan ‘enabled by ASML’.

But I believe that will change. This region in the South of the Netherlands is becoming known for breakthrough innovation driving the “Internet of Things”. Brain sensors, robotics, Lifetech, 3D printing, Cleantech, nanotechnology; all these kinds of technologies are going to impact on people’s daily lives. These ideas, products and services are all coming about as a result of disruptive thinking and doing; exactly the sort of ecosystem we’re building with a program like Startupbootcamp HightechXL.

What motivates companies to stay after the program?

The Netherlands is an excellent area to test market an idea. Recently, Elon Musk announced that the new generation of Tesla cars will be built in the city next to ours. So others from abroad are beginning to realize the potential of this region. And Holland has reciprocal tax agreements with a wide range of countries making it much easier to start an international company here than in many other parts of the EU, but also the US or Hong Kong. We know that tech start-ups are not focused on these issues – until they try to scale up rapidly.

In Europe, especially in the Netherlands, we tend to be more risk averse than in Silicon Valley. I believe that’s because many of the venture capitalists and angel investors come from a financial background. In California, many of the new VC’s have run tech companies themselves. But that balance is beginning to change here. I see more of our mentors and investors having very detailed knowledge and understanding of what it takes to build a new high-tech spin-out.

On Demo Day we expect around 300 investors to see what the 10 teams have produced after 3 months of being in a pressure cooker. We estimate that audience will represent €10 billion in capital and there is a hunger for good ideas and products that makes me confident. We’ve been encouraged that investors have come to us to brief us on what they’re looking for, not the other way round.

We’re doing everything to ensure that the ecosystem is right to encourage teams to stay in the Netherlands. There have been other success stories on the High-Tech Campus, like Gen-key or Civolution who have expanded to global markets, but retained their engineering base in Eindhoven. That’s proof that open innovation works.

We’re aware that money is an important factor in the equation. That’s why we believe it is our job as Startupbootcamp HightechXL to ensure there are paths to funding of between €0.5 - 2 million for each team by the time they emerge from the program in February 2014. Other cities like New York and Boston have shown us that this is important. I overheard a colleague describe our role as the “HighTech Headhunters of the 21^st century”. I rather like that thought!

It’s great when a plan comes together – The Story of Startupbootcamp HightechXL.

In conversation with Guus Frericks CEO and Managing Director of Startupbootcamp HighTechXL, Eindhoven. This article first appeared in Greek on the website of EMEA.GR.

There are over 200 accelerators out there, so why does the world need another one?

Because in our sector, high-tech, young companies building the hardware of tomorrow need a different approach to building their business. Having run innovation units in the corporate world for Philips and NXP, I know that engineers tend to be perfectionists. They work long hours tinkering with their prototype, not showing it to anyone. Yet, when they finally show it to a lead customer, they discover they don’t like it. Building a scalable business, especially an international business, doesn’t enter their head.

Often they want features that the founder realizes means they need to back to the drawing board for a costly redesign. In the apps world, that could mean changing a few lines of code. In high-tech that could mean half a million Euro to rethink the design of a chip or sensor. By which time a competitor will capture the market. Young companies the Netherlands don’t have that kind of money to waste.

My business partner Eric van den Eijnden (CEO of Dutch Expansion Capital) and I have been helping some of the most innovative tech startups in Europe for several years. One of them, Tidalys, is disrupting the tidal energy market with a fresh approach to turbine design and implementation. They’re located in Caen, in Normandy, home to the fastest tidal currents in the world.

Ideas On the Long Drive Home

The drive back to the Netherlands takes around 6 hours. That gave us both plenty of time to think and discuss. As entrepreneurs we know that we have to scale this concept to cope with the logarithmic growth in innovation.  Instead of building business and marketing strategies for one company at a time, we needed to find a way to do ten at a time.

Having built the framework for the idea, we immediately approach partners to test it. We were surprised and delighted that our accountants, Ernst & Young, not only liked the idea, but quickly came on board as a leading partner. Patrick Gabriëls, who leads an innovation team for EY in Eindhoven bring knowledge in taxation, IP and legal into the mix.

Our company, Dutch Expansion Capital, has proven international experience in building market entry strategies for young high-tech companies. We toyed with the idea of building our own “startup factory”. That was until we realized that global names like Techstars and Startupbootcamp have the experience of running the kind of program we had in mind. We looked around, mentored in few programmes, watched Demo Days in Amsterdam, Berlin and Dublin and then formed a partnership with Startupbootcamp. We’re the 7^th city for Startupbootcamp, following on from successful programs running in Amsterdam, Berlin, Dublin, Copenhagen, Haifa, and London.

The program is backed by over 150 international mentors. We've been having regular meetings on the Hightech Campus

Don’t you need to be in a capital city to attract the big investors and best teams?

It is true. Location is extremely important. It’s not about buildings. It’s all about tapping into a vibrant ecosystem of investors, customers, entrepreneurs and researchers. Whilst Amsterdam is the centre of Dutch app-development, Eindhoven is the right in the heart of high-tech. And the best brains in the sector have concentrated their collaborative research skills on what is now known as the High-Tech Campus.

It’s the site of the former Philips research centre NatLab.

But whereas the inventors and engineers used to “invent for you” behind closely guarded fences, Philips pivoted completely in 2003. They were one of the first to champion the open innovation approach, sharing information and facilities with other tech companies. Large corporates innovate faster when they collaborate with young disruptive teams. Although Philips spin-offs like NXP and ASML were already on site, the sale of the whole campus to a consortium of private investors in 2012 means Philips is now a tenant, alongside more than 120 other companies working on the tomorrow’s technologies.

The Hightech Campus Eindhoven is our fourth partner, providing us with offices right in the heart of what’s happening. Our 10 winning teams will have facilities on “the Strip”, which is where all the events & activities are focused. It really is a dream location. And you don’t just have to take our word for it. Back in July, Forbes magazine named Eindhoven as the most inventive city on the planet, well out in front of the rest. And we’re actually located in the smartest square kilometer of that city, the high-tech campus, where on average, a new patent is filed every 20 minutes.

Startupbootcamp HightechXL Barcelona Pitch Day from StartupbootcampTV on Vimeo.

In a few days you will organize a pitch day for high-tech startups in Eindhoven as well as Helsinki & Barcelona. Why have you gone on the road?

We expect that 70% of the teams we attract will come from outside the Netherlands. The Hightechcampus Eindhoven brands itself as the world’s smartest square kilometer. So we have set our target to build the world’s best high-tech accelerator. To do that we need to find the brightest and best teams, irrespective of where they come from. And as the open pitch days ramp up, I know this has been the right approach. I’ve personally been impressed by teams we’ve talked to in South-Eastern Europe recently.

My colleague in DEC, Nick Kalliagkopoulos, knows the Greek High-Tech scene. We have had a good reaction to our initial call for team pitches. So we went to Athens on 12^th September to meet potential candidates. These are the kind of networks that you have to build face to face. You can’t just do this on Skype.

One last question: If a high-tech start up has just heard about the program, what do they need to do now?

Online applications closed on Sunday September 8^th. www.hightechxl.com has all the details on the program. But there a couple of more opportunities for teams providing they sign up immediately. These pages have all the details:

Helsinki September 25th

Barcelona October 2nd 

Please note that we require pitches to be in English because our program in Eindhoven is also 100% in English. 

Hardware Pitching in the Heart of Barcelona

Heading for Barcelona on October 2nd where Startupbootcamp HightechXL is organising a special pitch day for high-tech startups. If you have a hardware solution, then now is the time to sign-up. Only a few places left. All the details are here. 

 Startupbootcamp HightechXL Barcelona Pitch Day from StartupbootcampTV on Vimeo.

Also a great opportunity to find out about our very different approach to accelerating high-tech startups.

My lips are sealed about HightechXL Pitch Days

As a journalist, it's kinda frustrating not being able to blog or tweet about the great high-tech pitches I saw today at the second open pitch day for Startupbootcamp HightechXL.

That's because it would be unfair to dozens of teams who spent 30 minutes interacting with several mentors from the lead partners EY (formerly Ernst & Young) and Dutch Expansion Capital. You need "Chatham House" rules in order for both sides to be open with each other. It's all about trust, especially when the intellectual property could eventually be worth a lot of money. But I can say that the teams from several countries gave us all the backing we needed.

One team even went as far to say that access to Europe's Silicon Valley in the South of the Netherlands was even more important that his current sales activities in Palo Alto. "People forget that the Netherlands has trade agreements with hundreds of countries, making it so much easier to expand to other markets."

Most of the teams have ambition to expand their ideas to wider markets. For those on line who still want to be considered for the October 14th finals in Eindhoven, there are only 4 days left. September 8th is the deadline because we want to be fair to others. If you know teams that haven't yet heard about Europe's leading hardware accelerator, break the news to them today!

Here's a sneak peek as to who dropped by at the office for the Startupbootcamp HighTechXL side of the selection call.  I was there too, but someone had to be behind the camera.

Know a great team that should be in Eindhoven for the finals? Then stop reading this and persuade them to head off to HighTechXL.com. They'll thank you for it, believe me.

Patrick Gabriels, Eric van den Eijnden, Bart Lugard (seated), Eric Broekhuizen, Guus Frericks take a serious look at a great pitch. Bart and his team have screened 5000 potential companies.

Victoria Martinez and Nick Kalliagkopoulos also cast a sharp eye on the conversations coming in.

Pitching to an audience worth 10 billion Euro

I'm currently heavily involved in selecting high-tech startup teams for a brand new accelerator program in Eindhoven, in the deep South of the Netherlands. Open Pitch days have started in earnest.

Bart Lugard is the head of team selection at HightechXL, and in this update which we shot he explains about the work so far and what's happening in Athens on September 12th.

Follow the Money

And then of course, the teams often want to know about money. After all in hardware, the sums are substantially more than with web/tablet app development. Teams are typically looking for Euro 500.000 to 2 million on Demo Day. We put this short trailer together to explain why the mentors we're involving also have access to substantial funds. Of course, taking part in HightechXL is a lot more than just about the money. Still, how about pitching to an audience that represents 10 billion Euro? Now that's a real question

Location, Location, Location - Vital to Success

We know that the best young tech companies do research before they consider joining an accelerator program. This video gives you an insight into the unique eco-system that surrounds Startupbootcamp HightechXL, the new high-tech accelerator program that I am helping to build in Eindhoven. Take a look. And if you know teams that might benefit, encourage them to pitch to us. More details at www.hightechxl.com

Brabant - where it's happening in R & D

Rather pleased at the response as the video campaign to assist recruitment to the Startupbootcamp HightechXL program now takes shape. Thanks for those who tweeted and reposted. Great buzz in the city of Eindhoven these days. Hope they win their bid to be the Netherlands Cultural capital in 2018. The region certainly deserves more recognition - it's putting more than 3.3 billion Euro into R & D. The rest of the country pales by comparison.

HightechXL Ramps up to the next Phase

Summer holidays are over. 

The labs, cafes and testing facilities are buzzing again on the Hightech Campus Eindhoven. Our global search for brilliant teams now enters a new phase. We've launched the first in a new series of insider videos, giving you a taste of what's to come.

Startupbootcamp HightechXL is ramping up to be the world's leading accelerator for young high-tech companies. 10 teams will soon be selected for the program starting here in the heart of what's happening on November 11th. If your team fits one of the high-tech profiles we're looking for, - and if you're ready to advance your global business strategy, we really should be talking.

Bart Lugard - driving our global search for teams

Don't Miss the Open Pitch Days - Aug 29 & Sept 3rd

Bart Lugard is heading our global search for teams. He reports a very high interest in our different approach to startup acceleration. 

"Competition to get into the program in November is intense. On-line discussions are already taking place this month with teams who have already applied. But there is still a window of opportunity in the open pitch days we're arrange for August 29th and September 3rd 2013. We know that high potentials always surprise us. We love to be challenged by brilliance. And we believe we have useful guidance to give back. All the details are at Hightechxl.com. Spread the word!

8 Profiles on our radar

"Of course, in high-tech, we’re looking for strong teams that have more than just an idea. The winning teams will start the program on November 11^th with a proof of concept or technology proof of principle. Ideally, they should have a demonstrator or a working prototype. In general, paper plans are not usually enough."

"In the various conversations we have had with early startup companies, it's clear that there are big differences between the world of app development and those that involve hardware in their solution. As you're out there searching for the "sustainable business model", as Steve Blank would say, it's much easier to tweak a line of code rather than rebuild a piece of hardware. Which is why the HightechXL program has been fine tuned to the very specific needs of high-tech companies."

"We have had questions from companies who are specialising in software only. But in each case this software is somehow connected to a piece of dedicated hardware. Like a vehicle, or a specialised sensor, or a robot."

Together we'll build a world class business strategy

Bart shares some of the feedback that's been coming in during the first part of August. "We should stress that during the three months (Nov-Feb) we will not focus on developing your technology any further. Instead, we will use the time to fine tune the business model, validate the customer base, engage with lead customers, sign up pilot projects as well as prepare a world-class investor pitch for Demo Day in February. Others have described our program as building a real-world business strategy.

So why are we encouraging teams to apply early? 

It makes a lot of sense to sign up today because late comers often lose out! Not only do early applicants stand out from the rest, we want to reduce the last minute rush that other accelerators report. Our advice to teams is to apply early, even if they have not yet finalised everything (like getting a video pitch ready). 

Fill in what you can and consider applying for one of the on-line pitching sessions. That's a great chance to ask open questions to the program organisers and some of the lead mentors. They may come back with advice and suggestions that can improve the team's chances of getting selected. They still have time to tweak the application. 

Our team in Eindhoven is constantly watching the incoming applications and is already approaching teams for an initial conversation. Good luck - it is going to be a brilliant experience for everyone. 

Great innovation passes by our office at Hightechcampus

The Startupbootcamp HightechXL selection team is moving into the final lap for the selection of great high-tech startups. Even though we're in the middle of summer holidays, the hightech campus in Eindhoven is always buzzing with events. The Solar Team Eindhoven, who were featured in the launch of HightechXL in June, have now been driving around town - including right past our office on the Hightech Campus.



Great to see how this young team of student entrepreneurs has such a clear strategy - and a great drive to make it happen across Australia. They have everything going for them. It's refreshing to see how large companies here in this part of the Netherlands are quick to back people who take initiative and celebrate their success. May be because the history of NXP is also full of entrepreneurship as it was spun off from Philips. They have been there before and know how crucial this stage is the launch of a great company.