Scaling Out Ventures From Scratch at BCG Digital Ventures

ACELR8 onsite: LabTwin

  • Time on the project: 9 months
  • Average time to hire: 5 weeks to 2.5 months
  • Fastest hire: 1 month
  • Total hires: 24 people

Last year we kicked-off one of our most exciting projects so far – a partnership with BCG Digital Ventures. The goal of the collaboration was to help them grow teams in multiple different ventures. It included UP42 (formerly known as Interstellar), Voith Innovation Lab, and LabTwin. Our own team, including Viola Kovaca and Swenja Tauchmann, went onsite to help these companies in setting up hiring processes and choosing the best talents. Here’s a closer look at our operations inside of LabTwin.

Source: LabTwin

LabTwin – world's first voice-powered lab assistant

The company is building a voice-powered app designed to be a virtual assistant of scientists in laboratories. It’s able to recognise complex vocabulary and data so that lab experiments can be well-documented. Besides that, it allows scientists to use the app to create reminders, timers, order lists, and access all the data via the web.

The company is one of the ventures of BCG Digital Ventures. When LabTwin was founded, all of the people onboard were Senior-level BCG DV employees. Using their own resources, they kicked-off the company and took care of it until it was possible to make it an independent being. Moreover, that’s when the hiring process had to start, and BCG DV reached out to ACELR8.

We believe that the team is the main force of creating great products. To achieve it, recruitment in ventures like LabTwin usually starts in the incubation process, which means we have enough time to hire the best talent as soon as the venture is mature enough. However, in LabTwin's case, the hiring process of the team started in the commercialisation phase. Because of that, we had to find talents from product, design, engineering, and data fields to boost the company’s growth within 2-3 months only.

ACELR8’s operations at LabTwin

ACELR8 took over the whole hiring process. Viola, a Lead Talent Acquisition Architect on the project, was advising on what positions would be necessary to create to achieve LabTwin’s goals. She was also providing a holistic view on all of the roles within the company. Swenja, as Recruiting Coordinator, was responsible for candidates’ experience, scheduling meetings with them, and organising onsite interviews. Our work at LabTwin included:

  • Setting up the hiring processes from scratch
  • Hiring talents for a venture that did not have a culture, brand, and any team yet
  • Defining the hiring strategy
  • Being consultants to both hiring managers and candidates
  • Diving into a worldwide search to find the best talent

As always, we were focused on looking for the best candidates for all the roles (over 20 in total!). The product is targeted to a very particular group of customers so that we had to find the best candidates worldwide who aside from their main skills would also have the knowledge or involvement in the fields of machine learning, AI, voice technology, life-science etc. To achieve that, we mapped out the market to figure out what are our target companies (competitors, companies within the same industry, places where a similar skillset is necessary) and came up with example profiles (perfect candidates for the role).

Having this foundation, we were able to start working on the project. We also adjusted our search on a weekly basis during our meetings with Steffen Gloth, Head of Operations at LabTwin, to include new learnings from the client and candidates. We approached each position on its own, profoundly researching every role before sourcing so that we knew exactly what kind of people would be the right fit. In the end, we had a very filtered group of potential candidates whom we reached out to with well-crafted, custom messages.

We approached each position on its own, profoundly researching every role before sourcing

On top of that, we advised LabTwin on how they can improve the recruitment process to make it more efficient by filling up gaps in every step of recruiting a new employee and providing them with insights and learnings from interviews. We also helped with tweaking things like job descriptions and posting job offers on recruiting platforms.

What really improved our work at LabTwin was working onsite. Before, there were many misalignments and misunderstandings, for example, not getting updates on the recruitment status or changes in requirements for the position from a hiring manager. Working onsite in client’s office helps with a better understanding of a company’s culture, which has a significant impact on hiring itself. When our team started working in the venture’s office, it really improved the communication and understanding of each other’s work from both sides.

What did we learn from the partnership  with LabTwin

The hiring process is a pretty complicated one, and it’s very easy to miss simple things in that chaos. Having 5-8 interviews per day, syncs with a hiring manager, feedback calls with candidates, and doing sourcing for the roles is a lot of things to keep track of. It’s crucial to take a step back once in a while to look at the big picture, go back to the original goals and see if everything is going as planned. Viola likes to reflect each morning on all the ongoing processes as if she was the company’s CEO. It definitely helps in realising if the hiring goes as planned or if there is anything that has to be tweaked.

It’s crucial to take a step back once in a while to look at the big picture

Working with BCG Digital Ventures allowed us to show what’s the best about ACELR8 – finding talents that are a perfect fit for companies that we work for. We are really looking forward to working on another great venture!

Want us to help you scale your startup? Contact us today for more details.

Show Comments

Get the latest posts delivered right to your inbox.