Two intense days of pitching and Q&As are over, and 20 great startups have become 5.
Day 1, Wednesday 21st, kicked off at 10am with Startup Norway and lead investor Thomas Berglund informing about the event and the selection criteria for picking the candidates to compete for the 1,3M NOK investment and the angels´ attention.
For the startups the rest of the afternoon went to receiving intense mentoring from a selection of the angel investors, helping them tweak their pitches and preparing them for the investor pitch in the evening.
At 5pm the 20 startups and 25 investors gathered for food and mingling at Kunstnernes Hus, giving the startups the opportunity to getting to know the investors, and hopefully convincing them that they deserved to be among the 10 to go through to the next day.
Pitching time arrived, and dare I say, we were completely blown away by the energy and passion shown by the startups. Never have outdoor equipment, the GIS industry, social media tools or virtual reality for the workspace been more exciting than on stage at Kunstnernes Hus this evening. And these were only a few of the topics that were pitched.
But sadly, everything must come to an end, and after the investors had discussed and decided groupwise there were 10 startups that went through to day 2.
These were EdTech Foundry, Vio Media, Islero, Imerso, Systemapic, Socius, One Earth Designs, feat.fm, Hubro Education and Konsus.
Day 2 started with interesting talks and insights from both VCs and serial entrepreneurs. Bjørn Christensen of Alliance Venture talked about IPR for born globals, while serial entrepreneurs Ståle Løvbukten and Thomas Berglund shared insights and tips from their journeys from idea to exit, both with and without involvement of VCs (thanks for the insights, guys).
Then the startups were up for more mentor sessions, preparing them for the intense grilling in the evening, held at BI.
If the mood Wednesday had been intense, cheerful, if somewhat nervous, then the mood this evening were marked by the knowledge that by the end of this evening, 10 would become 5, and that though questions would have to be answered before these 5 were chosen.
While the startups had the choice to have a short presentation on topics they felt shold be underlined regarding their business (maximum 6 minutes), this evening was dedicated to the participating investors getting to ask questions to the startups, in order to better understand the business, but also to get to know the people behind (in total 12 minutes).
The selection of startups on Wednesday had been fairly coherent amongst the group. On Thursday, the opinions was more divided, and heated discussions occurred. In the end, the investors agreed on the top 5 to go through the whole program:
These will participate in 5 workshops before the Grand Finale December 1st, learning from experienced key speakers and working closely with the investors in making them ready for investment.
Rumours also has is that 2 of the runners-up are in talks with investors from the group about investments. So things can happen even if you are not among the startups fighting for the prize investment.
Curious to learn how the startups experienced the pitching days?
Systemapic have written about their experience and take aways from these days here.
THE ORIGINAL 20 STARTUPS:
One Earth Designs