I’d been looking forward to Technoport’s Live Crowdfunding Experiment since it was first announced months ago – and it didn’t disappoint.
Even though we’d all got to know the startups during the week, noone really knew what to expect as we entered Studenterdamfundet in Trondheim for the live show.
Kahoot’s Johan Brand hosted the evening, which also featured a jury comprising Rune Sævik from Investinor, Anders Mjåset from MESH, and Kim Daniel Arthur formerly of Playfish. The jury grilled the startups after their pitches and as several musical acts took the stage, the investment floor opened up.
Money had already been pledged on FundedByMe beforehand, but around half of the total money invested during the campaigns was invested during the live event itself. There were even investments from Sweden and Germany, thanks to the live feed that attracted interest all around the world.
Trondheim-based assisted stair-climbing technology company Assistep were the big winners, raising almost 600,000 kroner, almost half of that on the night itself. This beat their expectations and leaves them with a “luxury problem” according to co-founder and CEO Halvor Wold:
“We got more than we hoped for and now we have a luxury problem as we are oversubscribed. It was a new experience for us all, fun and a great atmosphere.”
“The investment will be used for tooling and production costs for the first batch. It’s a huge step for us.”
Other startups receiving investment were Rom & Tonik, designers of natural wool sound absorbers (50,000 kroner from 7 investors) and Dimension10, developers of 3D scanning technology (90,000 kroner from 14 investors)
The answer according to Aleksander Langmyhr, Country Manager Norway at event partner FundedByMe, is a resounding yes.
“I have to admit, the startups raised more than we expected! But the pitches were good and the company presentations on the FundedByMe were excellent.”
“This is definitely something that should be repeated as a series of events held all over Norway. It would enable the startup ecosystem to evolve, making investments in startups available for the public in Norway and it would become an arena for promising startups to showcase themselves.”
We’re going to look at what we can learn from this experiment in a future post here on the Technoport Playground, but for now let’s congratulate all the startups for an excellent evening of entertainment and investment.
As one attendee put it: “It’s just like Dragons Den, but with beer!”