Summary: February 2015

Nordic Innovation House is definitely on the map! More and more startups join us, month by month. 6 months after we launch the Nordic collaboration the house is now bustling with close to 90 great Nordic entrepreneurs in our portfolio. In addition to all new companies that have joined the Nordic Innovation House lately, we also see a trend in spontaneous visits, founders and entrepreneurs use us as a hub when they visit the area, they use a desk for a day, and come by to meet with like-minded. Just like we want our community space to be used. 

February started out with 500 Startup Demo Day in Mountain View where around 40 startups pitched their ideas. Nordic Innovation House cheered for the Norwegian startup Techpear. This event was very well organized and they will be back in May with Batch 12.  Techpear is an algorithm that shows your best job applicants on top.  

Journalist Odd Richard Valmot of The Norwegian tech magazineTeknisk Ukeblad visited the Nordic Innovation House to conduct interviews with some of our Nordic startups and to see how we work. They met with Norselabs’ Yngve Tvedt and Christian Lundvang, One2Touch’s Nils Knagenhjelm, Etleap’s Christian Rømming and Fuse Tool’s Sumi Lim in addition to staff Åse Pettersen Bailey, Program Manager TINC and Gro Dyrnes, Director Innovation Norway. Stay tuned for the full article in Teknisk Ukeblad. 

In San Francisco, the conference “International Startup Marketplace”arranged “a gathering of global entrepreneurs entering the Silicon Valley ecosystem”. Several great speakers where lined up talking about; The startup pitch, Tools for Global Benchmarking, Customer Development, The startup Mistakes, and The International Investment Story. The big question this day: will Silicon Valley remain the number 1 hub for tech, innovation, growth, and entrepreneurship…? And YES, all the speakers were convinced that Silicon Valley will continue to be The Global Innovation Hub!                      

Claire Lee from Silicon Valley Bank clarified: “-there will be other hubs around the globe, like Berlin with main focus on manufacturing and automobile, but it is impossible to copy what we have in Silicon Valley”. One explanation is that the bankers are so much more risk-takers and less conservative in Silicon Valley, told Claire Lee from Silicon Valley Bank.

Talking about money - how much U.S VC money is coming into The Nordics? 

Using the "A comprehensive guide to who is actively investing in Nordic Startups" we identified 31 (of a total of 145) U.S based investors who invested in Nordic Startups in 2014, according to The Nordic Web. With U.S based investors participating in $209.9M of the $846.44M raised for Nordic startups, they accounted for 24.8% of the money raised in the region in 2014.
Surprisingly, the money from the U.S comes into the region pretty early, with the majority of the money coming at Series A (52.63%), and a very encouraging 36.84% coming at Seed. Read more here

But what is going on in our neck of the woods?

NIH in numbers:
9 new startups: WebOn, Amplify, Referanza, TingeerDE Capital,  Digoshen,OptoFidelity, Propel Network (Nurx) and Willow Tree.
16 new desks at 444 Ramona Street.
12 companies ready for next batch of Tech Incubator program (TINC). Announcement will be out next week.
285 visitors
2 new interns and 1 consultant

Please meet with the new crew: Benedicte, Petter and Fredrik

Name: Benedicte Tørressen (25) from Kristiansand, Norway
Education/schools; BA Marketing Communication, Foundation degree Design / Graphic Design at University of The Arts London.
Work experience: E-commerce manager at Hansen & Co
Best part about being an Intern at NIH is all the interesting people you meet. It is very motivating and inspiring to meet and learn from such talented people

Name: Petter Brøvig (25) from Kristiansand, Norway
Education/schools; MSc Innovation Management, Imperial College London
Work experience: Mainly, various projects within the e-commerce space. I also co-founded a startup with fellow students, developing IOT devices for alpine ski resorts. We failed, but learned a lot. 
The best part about working for Innovation Norway at NIH, is definitely the people we get to work with. I try to learn as much as possible from the people I meet here, who are often experts at the frontier of their domain. Getting a sneak peak into the future of tech is very exiting.

Name: Fredrik Örneblad (27) from Gothenburg, Sweden
Education/schools; Knowledge-based Entrepreneurship. Graduate School - School of Business, Economics and Law, Gothenburg.
Work experience: Intern, project and business developer in various startups and incubators. Also gained valuable experience from real-life projects in my education.
Best about being an intern at NIH/Vinnova: The people! Everyone here is motivated, skilled, helpful and passionate. Whether it is colleagues, new tenants or curious visitors, they're all great. Another exciting part is the TINC program we're running this spring. Additional plus is the climate, having Swedish summer all year.

This month Sunshine story: One of our startups, ThingLink, found their new COO (Martin Frid-Nielsen) through Nordic Innovation House. The CEO, Ulla Engestrom, meet with Martin, at one of ours networking events just before Christmas and now he has signed with TingLink. We love connecting great people with great people! Read more.

March is packed with exciting upcoming event: 

2 - 6 March, GDC
4 - 5 March, TINC Kickoff Oslo
2 - 4 March. Launch Festival in San Francisco
9 - 11 March, Wearable Tech Con in Santa Clara
11 March, House warming Party at Nordic Innovation House
12 March – ScaleIT
13-22 March – SWSX in Austin, Texas

Please, keep in touch with us; Facebook   Twitter  Webpage Nordic Innovation House

Live well and laugh often!