Funding is one of the first things modern startups think about after they have an idea or a prototype. After all, in order to grow and scale fast, you need a lot of it. At last years Arctic15, Henrik Dillman, the CEO of CoWorks (formerly ManCx) shared their story on funding, valuable advice on using the whole community for it and compared the San Francisco investment scene to that of Sweden and the rest of the Nordic countries.
ManCx was the winner of Arctic15 – 2011 and managed to raise over 2M€, of which the original €300k was done using a Powerpoint presentation by a team with no developers. During the speech, Dillman talks about the difficulties of raising funding pre-traction and also analyzes the fact that post-traction anybody can do it.
The first part of the video tells the story of ManCx and analyzes the pre-traction stage. At around the 9th minute mark, Dillman tells the story of the ManCx funding process, how they got the €300k using a Powerpoint, how the first round can affect the company and also questions the importance of getting a minimum viable product out (MVP).
Starting from the 18th minute, the Nordic investment scene is compared to that of the United States and finally starting at 22nd minute, you can hear the thoughts on engaging and accessing investors, funding advice and the importance of pivoting, which ManCx recently did. So without further adieu, here is the full video:
Previously published speaker videos from Arctic15: