EDD – Discover Your Founders
Is your Team strong enough to succeed?
This question is answered by EDD – the world’s first Emotional Due Diligence for start-up and innovation teams. With the smart tool, personality factors relevant to success are examined and mapped in detail. In this way, EDD makes it possible to make objective, data-based decisions even considering soft skills.
The MISSING LINK of a comprehensive DUE DILIGENCE
When it comes to predicting success, the “team” factor is one of the most essential, but also – so far – the least tangible. In order to recognize whether a team is up to the diverse challenges of founding a company, three main factors with 21 sub-factors that characterize successful entrepreneurs were identified. Using a detailed, psychologically balanced online survey, EDD determines the extent to which the actors have these characteristics and places them in a corresponding benchmark context:
- Emotional Maturity & Resilience
- Energy Level & Stamina
- Orientation & Inner Drive
That´s what EDD is for
It is no secret that entrepreneurial success requires qualities such as perseverance, tolerance for uncertainty, an increased willingness to take risks to name just a few. There is plenty of further information to be found in specialist literature, which is open to anyone who is interested in this topic. However, with EDD it has been possible for the first time to capture these key traits in their entirety and pack them into a smart, practical tool that measures them and combines them with benchmarks to show how they are classified and thus enables well-founded forecasts and targeted teamwork.
Who needs EDD
Whether entrepreneurship or intrapreneurship, whether business angel or innovation manager, M&A or change management, bank, or insurance, garage start-up or large corporation: A well-founded team analysis should complete every tech, financial and legal due diligence in the future. EDD not only can recognize the potential for success, but also provides the basis for active strategic team maneuvers. The results of the EDD report serve investors, mentors and not least the teams themselves as perfect base for reflection and further development: not only existing strengths can be pushed and used effectively but also tasks and responsibilities can be distributed optimally. Deficiencies and lack of skills become visible in time and can be compensated or supplemented with pinpoint accuracy. Furthermore, possible predetermined breaking points can be identified so that escalations are able to be counteracted in advance or the team composition can be optimized.
The Results of EDD
Three main factors, 21 sub-factors
The detailed report contains the individual evaluations of all participants, their formulated basic values, a comparison of their own and external views as well a team overview (homogeneous/heterogenous) for all individual traits. In addition, the EDD tacho provides information about the calculated probability of success based on relevant personality traits.
Optimally positioned in all start-up phases
Particularly charismatic personalities have the ability of persuasion. This quality is of vital importance to get beyond the seed phase – taking the first steps, attracting companions and raising capital. As an investor, you often let yourself be dazzled by this glamor and trust these personalities to master everything. You think those must be strong entrepreneurs who are prepared for anything. But EDD also reveals less obvious traits that are just as important and may only become relevant at a later stage. Because a successful team not only has to be able to cope with the first hurdles, but also all those that follow.
Individual Traits & Team Formation
The maximum isn`t always the optimum. While e.g. stress tolerance can hardly be high enough, other traits like risk propensity or accuracy need a counterpoint. The former can quickly become dangerous, the later triggers the so called “innovator`s dilemma”. EDD makes the key traits visible – in individuals and in the interaction as a team. In addition to a complex questionnaire, these subtleties make it more than difficult for participants to fill them out in a consciously advantageous manner. EDD thus ensures valid results.
With whom EDD competes
Previously, anyone who wanted to evaluate the potential of a start-up or innovation team had the choice to choose between their own knowledge of human nature and a detailed, cost-intensive psychological report. EDD is the data-based, fast, smart, inexpensive and therefore the only alternative.
The EDD Team
Thomas Stranig, Dr. Walter Antosch, Vero Neubacher: BWS Invest GmbH is a team of three experienced entrepreneurs who support founders as proactive business angels – preferably from the earliest stage. Investments are not made in business ideas or products, but in people. EDD arose from the desire to scrutinize them in as much detail and with respect as their business case. Two top experts complement the EDD team for the areas of tech and organizational development: Martin Böhacker, founder and CEO of the highly successful software company MBIT Solutions, and Thomas Frauscher, strategist, investor and Co-creator of the biggest change in the history of IKEA.
INFO & CONTACT
EDD Research GmbH was founded in February 2022. After the first successful pilot customer projects, EDD is bookable from July 2022 via app.edd.team.
Contact Person: CEO Thomas Stranig
EDD Research GmbH
Institute of Emotional Due Diligence
Phone: +43 664 1420248