KTH Innovation launches Brighter Startup 2015
September saw the launch of Brighter Startup 2015 with a boot camp for the participating teams. The program offers early startups with the potential to reach a broad and global market the chance to polish up their business ideas and try their wings in California later this year. Focus is on mentally and practically approaching the US market and how to establish your company in the most important tech hub in the world - Silicon Valley.
Global mindset from the start
KTH Innovation is running the program and has chosen the most suitable companies right now from KTH, Mdh and SSE innovation departments. Donnie SC Lygonis is engaged in the program and thinks that today, startups need to get used to operating in a global environment from the word go.
– There is a risk involved in getting too comfortable at home in Sweden, because in order to build a successful growth company you have to focus on export and internationalisation right from the beginning, he says.
The program offers a tailored mix of workshops and meetings with potential investors, clients and partners. Presentation technique, how to communicate your value statement and legal considerations are all on the agenda during the week in Silicon Valley.
One of the activities planned are also visiting the head offices of some of the leading global tech companies such as Google or Facebook, but also selected incubators and accelerators will be on the packed schedule. The trip gives the teams the opprotunity to identify and meet potential clients and partners. Donnie SC Lygonis believes that this will be a great learning experience.
– They will get a rude awakening to pitching their ideas to foreign investors on a foreign market. In addition, they will experience the quicker pace over there, and will also come to realise that there are a large number of other startups out there fighting their corner.
Pitch technique on the agenda
To kick off the program, KTH Innovation invited the experienced and multi faceted lecturer and pitch trainer Nathan Gold to assess the teams and start preparing them for pitching their startup. He agrees with Donne that it crucial that the teams understand the competition they're up against and that you have to be cutting edge to go far.
– In order to get the investors' attention – and to keep it – you have to be pioneering and get them excited about your particular idea. A well thought out sentence that cuts straight to the core should be enough, and it has to set you apart from the rest of the crowd, says Nathan Gold.
This years candidates for Brighter 2015 are: , , Magnea, , , Ortrud Medical and and this is the third consecutive year that KTH Innovation runs this type of program. Previously the inspirational trip was called Startup Inspire and was co-hosted with SVForum. The participants have been very positive and this year should be even better as the program has grown to include a month long preparation phase with lots of homework for the teams in advance of the Silicon Valley trip. And prepare they must, because this is the place where so many have tried and failed to launch the "next big thing". Donnie SC Lygonis maintains that this is something you have to be prepared to put yourself through with the attitude that if it all goes less than perfect this time it's not the end of the world.
– The culture over there is very special. It's all about making it, but there is no disgrace in failing as long as you try again. You don't fail until you stop trying again. American culture is very much about the underdog that fights another battle and wins, he says.