This document provides an overview of Bundl, a company that helps corporations launch startups. Some key points: - Bundl uses blended teams of entrepreneurs and corporate employees to co-create new ventures using a startup methodology outside of corporate governance structures. - They have launched over 12 startups in the last 2 years for clients like BNP Paribas Fortis and Telenet. Example startups include Didid, a dream-funding app, and The Park, a free-roaming VR experience. - Bundl has a proven track record, having run over 200 innovation projects over 10+ years. They provide an end-to-end solution from designing ideas to helping ventures

1. This is Bundl.

2. And, thanks for wanting to know more
about Bundl.
We wrote this to give you a deep
sense of who we are- the purpose
that powers our actions and connects
us as colleagues and humans.
This is our story.
Nice to
meet you!

3. 01
Why we do
what we do.
02
How we do
what we do.
03
Proof of what
we do.
04
Who does
what we do.
04
14
29
47
What you’ll
find in our
Bundl book.

4. Why we
do what
we do.
Our drive

5. In the last 15 years,
52% of the Fortune 500
companies have disappeared.
75YRS
1955
Average life expectancy
2015
Average life expectancy
15YRS

6. 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
122
151
96
82
107
61
20
1315
6575131
While some new kids
came to town.
The amount of startups with $1B+
valuations, by year, indicates the rapid
acceleration of change in business.

7. Taking market
share at dazzling
speed, and giving
corporations a hard
time keeping up.
1.00 2.00 3.00 4.00 5.00
1Y 2Y 3Y 4Y 5Y
Time to $1B valuation
Even the likes of Uber now seem
slow as new startups hit the $1B+
mark in months, not years.

8. Resulting in acquisition
strategies of startups,
for a very high price.
The intention, and necessity, was clear–
corporations needed to find a way to remain
relevant. Rapidly rising startups offered a shortcut.
Unilever buys Dollar
Shave Club for $1B in
2016.
Walmart buys Jet.com
for $3B in 2016.
Ford buys Argo
AI for $1 Billion
in 2017.

9. But corporates actually have the assets
to beat startups at their own game.
Resources, funding, access to customers, … these just hint to the
unfair advantage that’s exclusively theirs. It is, however, one that
needs reframing towards the startup mentality to find new growth.

10. It’s a matter of
combining the best
of both worlds.
Startups launch quickly, but have a hard
time scaling. Corporate projects have
the resources to scale, but miss the
startup execution speed. Corporate
venturing combines the best of both.
Corporate
Venture
Startup Corporate
time
impact
Startup
Corporate project
Corporate venture
Funding
Resources
Network
Channels
Customers
Agility
Efficiency
Versatility
Entrepreneurial
New business model

11. That’s exactly where we come in,
with our corporate venture expertise.
We bring the entrepreneurship and venture-
building skills to the corporate world.

12. This is where
we are on the
corporate
venturing
landscape.
We co-create, build, and grow the
businesses of tomorrow with leading
corporations and entrepreneurs.
Doing so, we help set up corporate
incubators and build a pipeline and
portfolio of new ventures.
Discovery Startup Scale-up
Phase
Costresultinginownership
Venture builder Venture Client
Strategic partnership
Corporate incubator
Corporate Accelerator
Corporate venture capital
Acquisition
Open Innovation
Scouting Mission
Hackathon
Challenge Prize
Sharing Resources

13. We firmly believe
corporations are
in pole position
to create the
businesses of
tomorrow.
Our ethosSomehow people have come to believe that
corporations are too slow to innovate and that
entrepreneurship only lives among the few in a
garage. Forget that.
We leverage the unfair advantage of corporate
assets, to build new startup businesses at high
speed and with high impact. We do this by co-
creating a range of investable business ideas, with
a fierce dedication to tomorrow's customer.
We mix your corporate intrapreneurs with our
Bundl entrepreneurs in a proven methodology to
launch new businesses, with a focus on execution
speed and future growth in new markets and
offerings.

14. How we
do what
we do.
Our method

15. The drivers that
repeatedly define our
methodology.

16. Blended teams of Bundl
entrepreneurs & corporate
intrapreneurs.
The co-created collaboration model has proven
successful on each innovation track we’ve
embarked upon. It’s complementary by nature–
stakeholder management on one side and
methodology ownership on the other.

17. A startup format,
outside of corporate
governance.
By operating outside of governance we’re able to
maintain momentum whilst keeping a crucial link to key
department stakeholders. At the same time, we stay in
close connection to the board to enable fast decisions.
This is how the corporate ventures we are involved with
get to market before competitors.
Board of
Directors
Department
Department
Department
Department
Department

18. Leveraging corporate
assets to create unfair
advantage.
The greatest tool is the one corporates already
have. Our methodology gives these assets with
an entrepreneurial edge to deliver corporate
ventures that start 10 paces ahead.

19. Reduced time to
market with proven
playbooks.
We use tried-and-tested tools in the design phase through to
growing the venture, that help us reduce the time to market.
We’ve also developed many of our own canvases and tools
from over 200+ innovation tracks, which we share in an
open knowledge platform.

20. Fighting the 90% startup
fail rate, with data-driven
innovation.
Every action we make is rooted in data to lower the fail rate
of disruptive innovations.
We fail or pivot at a high pace throughout the process,
which is enabled by data gathered from online smoke tests,
surveys, and offline interviews.

21. Kickstarting
incognito, spinning
off or in later.
We intentionally develop the business incognito to
keep speed and avoid conflict with other departments
at an early stage.
This prevents the mother brand from being harmed in
concept testing. And, allows us to test the concept in a
pure state without the reputation of the mother brand
affecting new consumer validation.

22. An end-to-end approach,
that reaches far beyond
post its and slide decks.

23. Design.
The craft
of company
building.
The entire process from Design through to Grow is facilitated in a close
relationship with our partner network.
• Jump from scratch to validated value proposition.
• Define, develop, run, and validate your MMP to get seed investment.
• Bring your full-fledged startup to the market.
• Power it into a profitable business.
Build. Launch. Grow.

24. Design.
Design a value proposition for your
customer of tomorrow. Generate new,
investable business ideas – from scratch
to validated value proposition pitch.
Market research. Design sprints. Customer validation.
Business model generation. Creative production. Pitch building.
Detect consumer
needs/trends and
pinpoint market gaps.
Find potential revenue
streams to build a viable
business case.
Bring your concepts to
life with our
multifaceted design
team, from UX/UI
design to branding and
video production.
Create a pre-seed
investment deck,
backed by the right
value proposition,
customer journey,
business case, visuals,
and a strong link to the
corporate strategy.
Validate early-stage
mockups with potential
customers and internal
corporate stakeholders.
Produce two to five
original product or
service ideas using our
unique design-thinking
methodology.

25. Build.
Build and validate your Minimum
Viable Product (MVP). Fine-tune,
prototype, and test the first
version of your venture.
Prototype development. Branding. UI/UX design.
Growth hacking. User validation. Business modelling.
Develop a first
prototype to gather
user insights, whether
it’s a commercial
webpage, a mobile app,
or a physical product.
Use digital marketing
techniques to find your
target audience and
scale your hunt for real
customer proof.
Find the pain points and
key benefits of your
proposition with a
validation mix of online
and offline tools,
network, and
knowledge.
Apply validation results
to back your business
case with real data.
Build a user-friendly
landing page or mobile
app to track customer
purchase intent.
Quickly generate a
temporary brand image
to validate your
corporate startup. Go
incognito to protect the
mothership.

26. Launch.
Launch your corporate startup into the
market. Develop your beta product,
grow your resources and become a real
business.
Product development. Human resources. Operations.
UI/UX development. Digital marketing. Legal.
Use your MVP insights
to develop a product
that will exceed
expectations.
Build a friction-free
experience for your
users.
Develop a growth
strategy to attract early
adopters and establish a
customer base.
Decide between a spin-
in or spin-off setup, and
get support on creating
a new legal entity.
Build a lean engine and
establish the right
partnerships to hack
your way to the finish
line.
Hire the leadership
team that will take your
business to the next
level.

27. Grow.
Grow from corporate startup
to scaleup. Establish a growth plan for
your corporate venture and
prepare for the scaleup stage.
Digital marketing. Strategy & product design. Customer validation.
Human resources. Business modelling. Startup mentorship.
Scale your marketing
efforts, refine your
target audience, and
optimize your cost of
acquisition.
As your business grows,
your team must grow
too. We can help you
find the best talent.
Follow-up on your
funding strategy and
build a steady revenue
stream.
Set up your startup to
scale-up strategy,
define your business
growth trajectory and
gain access to 24/7 ad-
hoc support.
Create continuous
customer interaction to
improve your processes,
detect needs, and validate
the next horizons of your
business.
Define the next
horizons of your
product and company
with tailored design
sprints.

28. No pitch without data-driven
customer validation.
An MVP is not a Christmas tree. Less
features is more.
Rather have 3 people 100% on the
project than 20 people with 0.2 FTE.
A flavour of
our venture
mindset. If we can hack our own
methodology, we will.
80% solutions are usually good
enough to move forward.

29. Proof of
what we
do.
Our track record

30. A track record, based on
an experience of 200+
innovation tracks.

31. We are one of the most experienced
venture builders in Europe.
locations.
2
people. years of existence.
35+ 10
ventures
before 2022.
50+
International
clients.
15+
innovation tracks.
200+
ventures in our
portfolio.
25+
venture-building
resources.
134+
Over all these years and innovation tracks, we’ve built up a methodology
and network that can be applied across industries, and the world.

32. Trusted by
leading
organisations.
Our company has worked in over
more than 200+ innovation tracks in
the past 10 years, and continues to
strive for long term partnerships in
each of our corporate startups we
build.

33. 12+ Startups
in the last 2
years.
We have a growing portfolio of
startups, with an ambition to
launch 50 corporate startups
before 2022. Bundl intentionally
has no industry focus, because
we firmly believe in the outside-in
perspective that we gather from
different industries.
Making cycling
future proof
A new physical
security
standard
A dream-centric
savings mobile
application
Organize your
kitchen in a practical
way
Your dream house, our
residential loan, your
home
Online education for
cinematic VR
Unforgettable free-
roam VR experience
Simplified internal
corporate
communication
software
A digital security solution
to supercharge your
home network

34. Key
Cases.

36. x

37. Thanks to Didid dreams, small or large, near or far, are much easier to realize. With
Didid, users can plan, budget, and share their dreams. They can push their limits, where
their dreams become projects and unforgettable memories.
Bundl is the founding father of the idea, and we co-created this startup from from
scratch to successful MVP, where BNNPF took the lead in the launch afterwards.
A groundbreaking new way of banking.
At the international hackathon of BNP Paribas Fortis, Bundl presented the idea for an
app that would help people take their dreams off a shelf and finally work towards
fulfilling them. The concept was picked up by the bank and we developed it together
with Didid, a subsidiary startup of BNP Paribas Fortis.
Didid.
The app that makes
your dreams come true!

38. Where we are now.
After our successful MVP in 2018, Didid launched in March 2019.
It is available for free in the App Store and Google Play Store.
1036
User signups
in the MVP
1010
Dreams
in the MVP
10.884
Unique visitors
in 6 weeks MVP
“As the bank for a world in change, we strongly believe in the
development of new, ground-breaking ways of banking.”
Michael Anseeuw, General Manager Retail Banking at BNPPF
Other info
Is confidential
Minimum Viable
Product.
Launched in 2018.

39. Ask our clients about our work.
Our collaboration with BNPPF continues.
Didid is not the only involvement Bundl has had in innovation tracks with BNPPF and
Hello Bank. In the past years, Bundl has been involved in the following:
• The co-creation and development of HelloHome
• The concept development of Card Linked Offers for HelloBank
At this moment, Bundl is running 2 complete new corporate startup tracks at BNP.
Maarten Verboven
Director Open Banking, Didid lead from BNPPF.
or call +32 473 25 25 99
More info about Didid? Visit the website
Mail him!

40. x x

41. The Park.
An unforgettable free-
roaming VR adventure for
friends and families.
In The Park you move freely through an immersive virtual reality, where everyday
rules don’t apply, but an unforgettable experience is guaranteed.
Bundl built The Park from the ground up with Telenet and 9.5 Magnitude
Ventures. That’s from post-it to concept, business case, development, hiring the
startup team, to a fully fledged corporate startup launch– in 1 year.
Accelerate growth in new markets.
We started from a blank canvas with Telenet, with only one clear focus question:
What is the future of entertainment and how can Telenet play a valuable role in
that field? Telenet co-developed this track with us, in parallel with other streams
diving into other markets.

42. 22K
Customers
50%
Average
Growth MOM
3
Venues
9.2
Average
customer score
"To do this well, we do not have to think like Telenet,
but as startups or entrepreneurs.”
John Porter, CEO at Telenet.
“One of the most important reasons why our collaboration was so
successful is that Bundl seamlessly connects with our culture in terms of
drive, flexibility and motivation, so we never considered them as
external consultants, but simply as a part of our team.”
Erik Van den Enden, CFO at Telenet.
“Telenet's approach was limited governance, limited amount of people
looking over your shoulder and what’s most important is the trust that
the company put into the people who were working on The Park.”
Kenny Henderyckx, Director Corporate Development at Telenet.
Other info
is confidential
The first results, after 8 months on the market.
The first 8 months have been a great ride for this corporate
startup, with great results.

43. More info about The Park?
Ask our clients about our work.
Kenny Henderyckx
Director Corporate Development,
The Park lead at Telenet
or call +32 496 57 44 24
Dann Rogge
Director Corporate Development
Current new startup lead from Telenet
or call+32 495 36 45 14
Our collaboration with Telenet continues.
The partnership between Telenet and Bundl didn’t stop after The
Park, but keeps growing. At this point, Bundl is involved in another 3
startup tracks within Telenet, and we still play an active role in the
further growth of The Park.
Download the full Case Study Visit the website
Mail him! Mail him!

44. Corporate venturing is
past the experimentation
phase, and maturing.

45. Corporate venturing
is now a common
strategy for new
market growth.
All over the world, large corporations
are discovering new markets in a lean
corporate venture format.

46. Corporate venturing
is maturing into
structured venturing
arms.
The rise of corporate incubators is a
sign that the landscape is changing
where making new businesses is the
business.

47. Who does
what we
do.
Our people

48. A special breed
of people.

49. Entrepreneurial
and eager.
We’re a unique collective of people, all
passionate about our purpose.
In every person we hire, we seek out
entrepreneurial spirit. The key ingredient
needed to build the businesses of tomorrow
together with our clients.
In fact, most of our venture builders have
personal startups on the side and we
encourage that. We believe in the freedom
and space to grow competences your own
way.

50. Nicolas Cap
Managing partner,
Head of growth.
Our Partners.
As a managing partner, Nicolas
helped build Bundl from 3 people to
35. He’s a trusted advisor for many
SLT members and, is highly skilled in
business modelling and future
growth analysis.
Follow on LinkedInSend me an email
Thomas
van Halewyck
Founding partner,
Head of strategy.
The founder of Bundl, Thomas is our
creative leader having launched
200+ innovation tracks over the past
12 years. He’s your go-to guy for
innovation tactics and experiment
methodology.
Follow on LinkedInSend me an email
Maxime Sureda
Managing partner,
Head of people.
Having worked for 10 years at
Microsoft, Maxime is excellent at
navigating complex structures. He’s the
operational master that helps startups
scale and is dedicated to finding and
growing entrepreneurial DNA.
Follow on LinkedInSend me an email

52. People, united
by values.

53. We come together in a melting pot of
unique personalities and cultural
differences, which we celebrate joyously.
(And boy, do we like to celebrate!)
And it’s how those individual traits combine
and connect that reveal our shared values.
These are our guiding lights, they power
our culture and underpin every action.
These are what make us
unapologetically Bundl.

54. Family-driven.
It’s unspoken, and unwavering. Anyone who
enters the Bundl sphere is part of our family.
We have each other’s back, no matter what.
We strengthen our bond by eating together
everyday.
We win as a team. We fail as a team. We learn as
a team.
[Teamwork. Collective. Supportive.]

55. Entrepreneurial.
A necessary prerequisite.
Our natural response to our world is to make
things better.
We are doers. We search for innovation through
experimentation.
We aim to change the game, not because we
can; because we must.
[Think. Experiment. Learn. Repeat.]

56. Accountable.
First and foremost.
Even if no one’s looking, we know.
We take ownership on every task, small or big.
We are responsible to exceed each other’s
expectation.
We find success when you do, and that will never
change.
[Ownership. Expectation. Responsibility.]

57. Diverse.
An assortment of humans.
Our family tree is a forest.
We find energy in our differences.
It drives us to think differently, respect all
opinions, and learn from one another.
Our creativity is inspired by the uniqueness of
our perspectives.
[Culture. Mindset. Creativity.]

58. Fun.
This is serious to us.
Whether it’s mid-project or Funky Fridays.
We enjoy the entire journey, start to finish.
We believe that productivity is a byproduct of
happy people.
And we’re more than happy.
[Life. Work. Human.]

59. Enthusiastic.
Some would call us fanatics.
Our passion for entrepreneurship runs deep.
We are profoundly interested in what we do.
And always want to be the first to know about
industry developments.
Our enthusiasm pushes us to take bold leaps.
[Passion. Bold. Curious.]

60. Open.
Just ask.
Collective transparency is non-negotiable.
We are radically candid.
We respectfully share the truth, especially when
it’s difficult.
We constantly beat our best because of this.
[Respect. Transparency. Honesty.]

61. Tenacious.
It’s full throttle.
Beginning to end.
We side-step speed bumps and slip past hurdles.
We roll up our sleeves, dig deep, and get the job
done.
Some would say it’s our trademark.
[Perseverance. Persistence. Grit.]

62. The habits that define
our way of working.

63. Our habits are the manifestation of our values.
It’s how we uniquely interact and behave whilst
getting the job done.
It can be a bit of a mindf**k the first time
around, but everyone discovers a new rhythm
within.
These habits are often unspoken, yet completely
noticeable to others.
This is how we Bundl, for you and for ourselves.

64. We take initiative on projects.
Holding hands isn’t our thing.
01

65. We deliver beyond
what’s expected, every time.
02

66. We intentionally share
our knowledge to build
collective wisdom.
03

67. We don’t speak ‘between the lines’.
Transparency guides our interactions.
04

68. We come with solutions.
Not problems.
05

69. We fail fast.
We learn faster.
06

70. We keep it professional,
without wearing ties.
07

71. We take life as seriously
as we take our work.
08

72. We rate everything*
on its user experience.
09
*including sandwiches

73. We intentionally make
everything we touch
beautiful.
10

74. Thomas Van Halewyck
Co-founder and managing
partner at Bundl
LINKEDINEM A IL
Now let’s stop
talking, and start
building.
Discover new growth
opportunities for your corporation
and create new revenue streams.