Kenneth HellemSeed Nordic - Startup Factory kenneth@seednordic.se Twitter: kenneth.hellem

Killingyour darlings

LSC Meetup - Zagreb March 31, 2015

3% Europes Population

33% Billion $ Startups

The Swedish startup-scene is booming

Co-working spaces Incubators & accelerators Inspiration & knowledge

But the environment is only part of the answer…

I DEA

+

TEAM

What I’ve learnt from pre-seed investing

It’s impossible to predict the success of an idea (But most likely it will fail…)

It’s more fun to build stuff, than to invest

A rockstar team can go far with any idea (Don’t be afraid to pivot or completely change ideas…)

Idea  Generation  (~1  day)

Market  Validation  (4-­‐6  weeks)

Venture  Development  (3-­‐4  months)

“Market  research”  Network  validation  

Team  gut-­‐feel

Concept  development  MVP  /  Prototype  Market  validation  

Business  model  &  plan

Product  development  Customer  development  Generate  first  revenue  Raise  seed  investment

Incorporation  Hire  team  

Scale  Business  Raise  A-­‐Round

The Pivot Seed Nordic, Startup Factory

MVP: 2 weeks

Launch: 2 months

Hanging on: 2 years

Teaching New Yorkers to cook at home

Your idea is not as good as you think it is

Confirmation bias is very real(Founders fall in love with their ideas)

Market validation is king (Stop assuming - start selling)

Only the very best ideas will survive(The quicker you can kill the bad ones the better)