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Cracking CapEx Heavy Industries Part II: Scale Smarter, Not Harder

WRITTEN BY DAN MILLAR, CHIEF REVENUE OFFICER AT MISTYWEST

If you’ve ever tried selling to industries like mining, construction, or oil and gas, you know it’s like steering a giant ship—you turn the wheel, but nothing happens for what feels like an eternity.

These legacy industries are crucial players in the energy transition and climate change fight, but they’re notoriously slow-moving, risk-averse, and heavily dependent on multi-stakeholder approvals.

So, how do you get your game-changing tech or product into their hands—and better yet, get them to adopt it at scale? That was the big question at our recent Vancouver Hardware Meetup on Cracking CapEx Heavy Industries—a continuation of the conversation started during SF Deep Tech Week. MistyWest’s CEO Taylor Cooper moderated this panel discussion where we gathered industry authorities who shared their secrets for navigating this tough terrain.

Here’s what they had to say.

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This event was hosted at Manning Elliott’s downtown Vancouver office

Understand the landscape of slow adoption and long timelines

Before you can even think about selling to a capex-heavy industry, you need to understand the landscape; essentially, that these industries are slow to change and wary of large expenditures. As Michele Wallcraft, Executive in Residence at entrepreneurship@UBC, pointed out, “you’ll often see companies run pilots, even agree on KPIs for success, and then… nothing. No orders. No follow-up. It’s frustrating, but it’s a reality in these industries.”

The reason? Massive capital expenditures means the stakes are high if something goes wrong. Success here requires persistence and strategy, starting with recognizing when a project is truly progressing. Michele shared some telltale signs:

They’re discussing terms and conditions or drafting contracts.
A project manager has been assigned.
Clear milestones and success criteria are mapped out.

If those aren’t happening, you might just be stuck in what she calls “perpetual trial mode.”

Trust is the currency of Big Industry

Alicia Lenis, Vice President at Chrysalix, stressed a universal truth: Trust is everything. In industries where decision-making is cautious by design, building strong relationships with stakeholders at all levels is key.

“You have to map out the players—both at the corporate level and the operational level” she said. “It’s not enough to just have one champion; you need buy-in from everyone who has a say in the process.”

Global Head and Chief Operating Officer at Weir-Motion Metrics Mike Funke offered a pro tip for testing a potential customer’s commitment. “Push for a paid trial,” he said. “Even a small amount of funding shows they’re serious and have some skin in the game. It’s also a way to learn their internal funding processes, which will save you headaches down the road.”

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MistyWest’s CEO Taylor Cooper moderated the panel discussion

Manage the maze of complex approval processes

Selling to large organizations means navigating approval processes that can feel like an endless obstacle course; one panelist said they required over two dozen signatures for a program to be approved!

How can you avoid getting stuck? Identify who needs to sign off and engage them early. Work with your advocate to map out the entire approval process. Stay proactive—don’t just wait for things to move forward on their own.

By identifying where the bottlenecks are, you can help your customer and guide them through the process.

Get from early adopters to early majority

Getting one customer is hard enough, but scaling across the industry is another beast entirely.

The secret can be found in your reference customers, otherwise known as your proof of concept. Their success can be used to build your own credibility and pull others on board.

Not all customers are created equal, however. “You want customers who are willing to work with you and have a bit of an innovation mindset,” shared Jason Williams, Director of Software Development at Vancouver Airport Authority (YVR). “They’ll be more forgiving if your product isn’t perfect yet.”

And don’t overlook the power of peer influence. Michele noted, “big companies love to follow their peers. If they see a competitor adopting your product and succeeding, they’ll start to feel the pressure to keep up.”

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Left to right: panelists Mike Funke, Jason Williams, Michele Wallcraft and Alicia Lenis

The art of prototyping is fast, but not loose

When it comes to hardware, prototyping is where the rubber meets the road—or sometimes, where the wheels fall off. On Motion Metrics’ approach, Mike reflected that “we’re great at getting to beta quickly, but scaling that to a perfect, reliable product is another story. You can’t scale with a product that makes your sales team look bad.”

Taylor shared a practical framework: “Start by identifying your riskiest unknowns. Don’t build an entire product to test one feature—hack an existing system to prove it works.”

For startups, this lean approach can save critical time and resources, especially when facing the high costs of manufacturing and inventory.

Don’t trust too easily and protect your IP

A sobering reality about working with Big Industry: they might love your tech, but if they can reverse-engineer it or work around your patents, they will.

“Never trust anyone with your secrets,” Mike cautioned. “Keep your competitive edge by safeguarding your intellectual property at all costs.”

Alicia added, “It’s not just about protecting your IP—it’s about knowing what’s core to your business and what you can safely share. Get clear on what’s proprietary and lock it down in your contracts.”

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Yours truly during the audience Q & A

Scale smarter, not harder

Breaking into these industries is tough, but scaling requires a whole new level of strategy. The panel emphasized the importance of a robust ecosystem of support—field service, training, and customer success—so your customers feel confident adopting your product at scale.

“It’s not just about the product. You need to support it,” summed Jason. “If customers don’t feel confident in your ability to help them succeed, your product won’t scale—no matter how good it is.”

Final Thoughts

Breaking into capex-heavy industries is a long, challenging journey. It’s about more than just having great tech—it’s about building trust, navigating complex systems, and proving your value over and over again.

As Michele put it: “These industries are hard to crack, but the rewards are worth it. If you can solve their pain points and make yourself indispensable, you’re not just selling a product—you’re building a partnership that can last decades.”

With persistence, strategy, and a little bit of grit, you can make your mark—and help shape the future with breakthrough technology.

Want to attend our next panel discussion?

We host four Vancouver Hardware Meetups a year with local tech and business leaders to discuss the latest trends and developments across many industries and sectors. Join our group to be notified about the next event.