Principle 01
Start With Real Problems
Investigate meaningful problems and opportunities before committing to a solution.
BFL Venture Track
Build Ventures Through Evidence, Not Assumptions
The BFL Venture Track helps aspiring entrepreneurs and venture teams turn promising ideas into ventures grounded in real problems, tested propositions and credible evidence.
Develop your venture step by step. Understand the people you want to serve. Investigate the problem. Develop and test your proposition. Learn from real-world evidence. Then determine the most credible path forward.
A venture is not ready because it has a compelling idea. It becomes more credible as its assumptions are tested and its potential is demonstrated.
Venture Track
From an Initial Idea To a Venture Worth Developing
A promising idea is a starting point, not proof of an opportunity.
Before investing heavily in a solution, venture builders need to understand the problem, identify the people affected, examine existing alternatives and establish whether a proposed approach can create meaningful value.
The BFL Venture Track provides a structured pathway for doing that work.
Rather than measuring progress through attendance, polished presentations or activity alone, the programme focuses on what a venture has learned, what it can demonstrate and what decision the evidence supports.
Principle 02
Learn By Doing
Apply learning to your own venture through research, fieldwork, experimentation and practical development.
Principle 03
Progress Through Evidence
Use documented findings and structured reviews to determine what should happen next.
Journey
The Venture Journey
Every venture starts from a different position. The Venture Track provides a shared pathway while recognising that the work, pace and support required will differ.
Gateway — Intake and Placement
Establish where the venture stands.
Discuss the opportunity, current evidence, capabilities, objectives and support needs. Entry assessment helps determine the appropriate starting point.
01. Explore
Find a direction worth investigating.
Examine problems, opportunities and challenges. Compare possibilities and establish which direction deserves further investigation.
02. Define
Establish a credible problem.
Investigate the people affected, their needs, existing alternatives and the consequences of the problem. Establish a clear foundation for venture development.
03. Develop
Turn the problem into a testable proposition.
Develop the proposed value, venture logic, business or sustainability model, and the assumptions that need to be tested.
04. Prototype
Make the proposition tangible.
Create an appropriate prototype, simulation or minimum viable product that can be tested responsibly.
05. Pilot
Test under real or appropriately controlled conditions.
Put the proposition into practice with a defined objective, an evidence plan and suitable safeguards.
06. Validate
Determine what the evidence supports.
Examine the results, limitations and remaining uncertainties. Establish what has been demonstrated and what still needs to be tested.
07. Connect & Grow
Identify a credible continuation pathway.
Explore appropriate routes through market development, partnerships, investment preparation or independent continuation, according to the venture's readiness.
08. Continue, Re-enter or Exit
Make a considered decision about what comes next.
A venture may continue independently, pursue further growth, transfer its work, return for another period of development or close responsibly.
Not every venture needs to follow the same route. The objective is to make better-informed decisions about what is worth pursuing.
Learn. Apply. Test. Review. Decide.
How the Venture Track Works
The programme connects structured learning with practical venture work. Each stage is organised around a clear question, a defined task and evidence that can inform the next decision.
Learn
Build the knowledge and methods needed for the current venture challenge through learning materials, guided sessions and relevant expertise.
Apply
Use those methods to work on your own venture. Learning is connected to a practical task, not treated as an end in itself.
Test
Investigate assumptions through customer conversations, observation, research, experiments or other appropriate forms of fieldwork.
Review
Bring the work and its evidence into structured discussions and reviews. Identify gaps, challenge unsupported conclusions and determine what needs further investigation.
Decide
Record the outcome and agree on the appropriate next step: progress, strengthen the evidence, repeat the work, return to an earlier question, pause or close.
Classes and workshops support venture work. They do not replace it.
Venture Learning
Building a venture requires different capabilities at different stages.
BFL Venture Learning connects structured learning with the practical work of developing a venture.
Through learning materials, practical assignments and mentor feedback, participants build the knowledge and skills they need to investigate problems, develop propositions and make decisions based on evidence. Venture Learning is organised into levels, providing a structured learning journey alongside the broader Venture Track.
Explore Venture Learning to discover its learning levels, modules and practical approach.
Pathway
A Pathway That Adapts To the Venture
The BFL Venture Track operates as a year-round, rolling pathway rather than a fixed annual cohort.
Some participants begin with an interest or an early idea. Others may already have investigated a problem, developed a proposition or built an initial prototype.
The starting point depends on the venture's demonstrated condition, not simply on where its team believes it should be.
Pathway 01
Stage-Matched Entry
Your entry point is determined through an assessment of your current work, evidence, capabilities and development needs.
Pathway 02
Evidence-Based Progression
Each stage has a purpose and an expected outcome. Progression depends on whether the required evidence has been established.
Pathway 03
Flexible Continuation
A venture may advance, remain at a stage, repeat work, return to an earlier stage, pause, continue independently or close responsibly when that is the appropriate decision.
The pathway is progressive, but it is not always linear.
Participants
Who Is the Venture Track For?
The Venture Track is designed for people and teams prepared to investigate problems, work with others, learn from evidence and take responsibility for developing a venture. You may be exploring an opportunity, investigating a problem, defining a proposition or testing an early solution.
You do not need to arrive with a fully developed business. You do need a willingness to do the work, question your assumptions and respond to what you learn. The appropriate starting point and level of support depend on your readiness and the programme's assessment.
Start with a conversation about your venture.
How To Get Involved
Tell us what you are exploring, what you have learned so far, what remains uncertain and what you want to achieve next. The initial process helps establish whether the Venture Track is an appropriate fit and where your work may begin.
Join
Interested in the BFL Venture Track?
Join BFL Venture Track and have your entrepreneurial aspiration through an accelerated path to success.
Learn
Already working on your venture?
Explore BFL Venture Learning to understand the learning resources and practical work that support venture development.
BFL
Bali Future Lab
The Venture Track is part of Bali Future Lab's wider commitment to transforming tourism, growing beyond tourism and building Bali's next economy.
By helping people investigate opportunities, develop ventures and learn from real-world evidence, the programme contributes to a stronger foundation for innovation and new economic activity in Bali.