How we work and what we promise:
- We adhere to Rules of Engagement for working with startups, which we have been part of forming as partner of StartupLab.
- We commit to assessing your proposal and giving you a “no” or a plan with specific next steps within 4 weeks of initial meeting.
- We ask that you on initial contact only share publicly available information, or such information you are comfortable with us sharing internally. This in order to ensure the right people can assess your proposal/idea, and to uncover potentially conflicting initiatives
- We do not sign NDAs for first meetings, but will consider doing so after positive assessment and clarifying that there are no conflicting initiatives, and before any confidential information is shared
- Until this, we retain right to consider different potential suppliers and/or internal development
Efficient, transparent and tailored assessment process:
We will ensure a transparent and efficient process, tailored to the individual case. Many cases will be shorter and a few might take longer, but a typical process can take around six months and can look something like:
- First meeting: understanding what the startup actually does and initial overview of business model and technology. No NDA shared.
- Internal discussion: initial due diligence with some back and forth questions with startup, no sharing of confidential information
- Second meeting: further discussion with more expertise involved
- Internal discussions with Telenor’s own businesses for determining fit and placement, with more back and forth questions with startup
- Rejection or third meeting with own business involvement
- In-depth business and technical discussions with Telenor companies
- NDA signed here if sharing sensitive technical or commercial information (“secret sauce”)
- Approval from Telenor company’s management with pilot signed.
- Execution of pilot
- Analysis and discussion of results + due diligence (for Investment track)
- Partnership or Investment consideration made – discussion on terms and agreement.
We are not sure if this is exactly how it will look all the time. But we have to start with an ambition, be transparent about the process and learn as we go along.