You can already find them all over the world, but they are made in Hoogeveen. The fast-growing company Build4Performance (B4P) is pushing hard internationally with state-of-the-art racing simulators for both enthusiasts and professional drivers. And with the recent entry of NOM as a co-shareholder, those international ambitions should be further accelerated.
Build4Performance (B4P) was founded in 2018, but the idea was born five years before. 'Before that, I made super-fast custom PCs with my company Build4Power,' says founder Martijn van der Woord. 'In 2013 I was at CES Las Vegas with a showcase model, where we linked a racing simulator to that model. But I wasn't that impressed with that simulator. I was born with two right hands, grew up with technical lego and studied mechanical engineering, so I thought: I can make that too, but better.'
It had to be a simulator where you could feel everything, from handling, height differences to even the potholes in the road. But that didn't work out overnight. 'The first model was viciously disappointing,' jokes Van der Woord. 'It didn't do what I wanted at all, so at the time I wondered whether I should do this. But thanks to an initial investment, a year later I had something I was happy with.'
Upgrading
What began as a passion and sole proprietorship alongside his other business quickly grew into a thriving private limited company. But the real tipping point came when Van der Woord contacted former Formula One driver Robert Doornbos, asking if he was interested in a virtual test drive. 'I didn't have high hopes for it, because of course he gets a lot of requests like this. But he came along anyway and was even very impressed. And if I could also build a Formula 1 version of the simulator, he would make sure it would be placed in the Ziggo Sport Race Café. I happened to already have a design for that, so I showed it to him right away.'
And so it happened. Robert Doornbos became an ambassador and later even a shareholder of B4P. 'That was a fantastic experience and suddenly created a lot of brand awareness, but it was also very hard work. From Friday to Sunday, going there early in the morning, then building up and breaking down late at night and back to Hoogeveen. That was early 2020 and we had just finished a couple of weekends when the first lockdown was announced. Everything was locked down, drivers were suddenly sitting at home, but wanting to do race hours. It caused an explosion in demand for our simulators, because we were still fresh in everyone's minds thanks to the Formula 1 Café.'
Basis for international growth
To meet the enormous demand, a large warehouse was added. This laid the first foundation for the future, although ideas on how to fill it appeared to differ. 'One of the first investors had a different vision of the future than I did. And when we talk about entrepreneurial lessons, this was a big one," says Van der Woord. 'It does feel like a marriage on the rocks, just when we were starting to become successful. And I didn't want to go back to a situation where I had to do everything by myself. Fortunately, I found two other investors who were willing to take over the shares and I really learned a lot from them. Together we made the company as scalable as possible in order to also lay a good foundation for international growth, but for that we needed additional capital and knowledge.
'Via Marktlink we ended up with the NOM for that,' continues Van der Woord. 'And apart from just the funding, they also have a lot of in-house knowledge in the field of export and internationalization, so that was a decisive factor for us. And furthermore, they also offer us the tools and the handles to really make something of our plans. 'Build4Performance has already amply proven itself in the Netherlands and stands out as a high-tech company within the region,' says NOM investment analyst Thomas Hekman. 'We see strong international potential and are therefore happy to support the company in realizing its global ambitions. With NOM joining as a shareholder, we are helping Build4Performance to scale up internationally, with capital, guidance and access to our (inter)national network.'
We see strong international potential and are therefore happy to support the company in realizing its global ambitions.
Thomas Hekman Investment analyst NOM
Abu Dhabi
In terms of international growth in the coming years, eyes are on the Middle East, specifically Abu Dhabi, Dubai and Saudi Arabia. 'That is a very interesting and fast-growing market for us,' Van der Woord said. 'Especially the gaming industry, like e-sports, which are becoming very popular there. And a big part of those e-sports is simulator racing, so that's perfect for us. An added advantage is that Robert emigrated with his family to Dubai this year, so in that sense we now have a foothold there and he is also building a network there.'
'Furthermore, we are setting up some very interesting collaborations for next year,' Van der Woord continues. 'I can't say too much about them yet, except that they are large parties that also supply parts for simulators. That will make the snowball roll a lot easier. And since this year we have started a partnership with Rudy van Buren, also known as The World's Fastest Gamer. He has a huge body of experience as a racing driver, sim and test driver in Formula One and is someone who knows exactly how a car is supposed to feel on the track. I am enormously proud of what we have all achieved. I think we now have the complete package to really accelerate.'