Connecting urban development scaleups from Oslo and investors in London
Nine Oslo-based scaleups joined a program of 17 total Nordic companies for Opportunities UK and Nordic Fund Day, 18-19 October in London.
The scaleups took part in a go-to-market workshop gaining insight into market possibilities in the UK and expert advice from Innovation Norway, Nordic Edge, Marks & Clerk, and others on how to set up a good go-to-market strategy. Scaling to new markets brings about a set of challenges. Jaysri Thangam from PropTech1 - a german-based VC for proptech and construction tech shared some concrete tips for how to enter new markets:
The companies also had the opportunity to apply to pitch in front of 15+ international investors during Nordic Fund Day - an event connecting promising scaleups within the urban development sector, with compatible investors.
After receiving great applications from all over Northern Europe, the jury from Nordic Ninja, Lyse Vekst, Smedvig Capital, and Concentric handpicked the most promising startups to present their business idea to international investors. Three Oslo-based scaleups were selected to pitch: Findable, Charge BnB, and Defigo.
Learnings and advice from the investors
Jaysri Thangam from PropTech1 - a german-based VC for proptech and construction tech shared some concrete tips for how to enter new markets:
As a startup that is pitching to VCs outside your geography, have a great answer for scale, how material your entry into the new market is and why that particular VC is right for you. Always think about de-risking your business as your grow and find product market fit.
Max Blanshard a VC Investment Associate at 2150, a VC firm investing in urban development solutions said:
Startups in the Nordics have a fantastic opportunity to work in a tech system that is often well ahead of the rest of Europe - such as the high levels of EV and smart meter adoption. They are therefore perfectly positioned to lead the way as Europe and the rest of the world catch up.
I love to meet startups that have proven their product market fit, have clearly, honestly and thoughtfully calculated their sustainability impact, and have a plan for how they are going to get the Ex-Nordics to adopt their technology too.
Alex Rahaman is an Investor at the Norwegian investment fund Idekapital and is based in London.
It was great to see so many Nordic founders pitching in London. Getting on a plane and standing up to tell your vision and mission is a vital part of a founder’s success path.
To present to Idékapital we love to see passion and confidence, but also a clear understanding of the company’s journey ahead. This means being honest and open about what you have now and what you need, and what you want from an investor partner like us.
About the UK Opportunities program
The program was organized by Nordic Edge and Oslo Business Region in collaboration with partners such as the Norwegian British Chamber of Commerce, Remarkable City, Innovation Norway.