How Does CAP Work?
NEC X representatives identify and induct Entrepreneurs-in-Residence (EIRs). These entrepreneurs go through a multistage process, from concept to the development of a minimum-viable product (MVP), ready for seed round investment or strategic partnership with another technology vendor. The process takes approximately 6-12 months to complete.
Our approach begins by introducing prequalified EIRs to researchers from NEC R&D who present and demonstrate the technologies. Together with our EIRs, NEC researchers identify tech seed concepts with the most potential, to assure market readiness. EIRs conduct their own market research to assess the needs and opportunities from potential customers.
EIRs take on the essential activities of customer discovery and validation. The startups’ purpose is to address customers’ problems, solve unmet needs and bring value to the customers. EIRs conduct rounds of customer interviews to identify their pain points and validate the business hypothesis. Then, EIRs work with early adopters and the low-fidelity MVP, to fully develop the business plan and product market fit, with proof of concept.
Once complete, the startup is ready to develop and launch. Depending on the investment model, the startup will spin out, spin in or launch through joint venture.