This event was conducted by Founder Institute and held in SUP46 to give some practical advice on raising funding; how to pitch to investors, when to pitch for funding and what is equity.

As one of the speakers, Mikael Wintzell said, “Noone owes you funding. You need to earn it.

The evening started with a talk by Michael Lantz, CEO of Accedo. Accedo is a cloud platform which provides video experiences and it’s clients include Netflix, NBC, Spotify, Fox and Disney. Michael talked about the funding journey of Accedo. In 2004, he started working with his co-founder Fredrik based on the insight that emerging technology will transform how people consume video, but the stakeholders will struggle to keep up. They spent 3 years in their homes building the solution and went for series A round funding in 2007. On a reflective note, he said, “It would been a better strategy if we had continued to build and focus on getting the product to the market rather than seek funding at that stage“. In 2016, they received 10 million funding by SEB in another funding round. This allowed the early investors of Accedo, including Industrifonden and Acacia, to exit as part of their investment strategy. This was an interesting talk because I learnt how it is important to seek funding at the right time and view the funding effort as a tradeoff for the time spent on product development, especially when there are fewer employees. I also learnt that several seed round or series A investors exit after the next round of funding.

The second speaker was Mikael Wintzell, Partner & CEO at Wellstreet. He said, “If you are in Stockholm and you don’t receive funding, either your idea has no potential or your communication skills are not good because there isn’t a lack of investors in Stockholm”. When an audience member asked him what is the most important thing that investors look for, he jokingly said, “I’ll let you know if you Swish me 10k kronor”. His company, Wellstreet helps entrepreneurs grow and they also invest in these companies (mainly B2C and online-based) if they believe in their vision. He talked about how it is important for the founders to choose the right investor who can guide them in the right direction, just as how it is important for the investor to pick the right startup.

Michael was followed by a corporate lawyer from Lindahl, a business law firm. He emphasised the importance of preserving all the documents (contracts, receipts, sales proofs) and paying attention to the fine line in contracts.  He mentioned the importance of honesty from the founder’s side in their business and financial reports since investors usually hire corporate lawyers to verify all the documents before they fund the company. He also introduced the concept of a shelf company (a registered company that has no activity) which can be bought by founders who don’t want to waste time registering a company or are not Swedish citizens. This was quite interesting since it seemed unethical but legal.

Arno Smit, co-founder of FundedByMe talked about his company, a crowdfunding platform for entrepreneurs who want to raise funds through a crowdfunding campaign. In 2010, Arno (coder from Africa) along with his co-founder Daniel Daboczy (with an Art major from Romania) wanted to launch a Kickstarter campaign for a video-site for sharing ideas. Kickstarter turned them down saying their idea was not valuable for the American community. So, they started their own Nordic platform for crowdfunding. Because of their backgrounds, it was hard for them to seek funding. But they succeeded in building the platform and raised equity crowdfunding for their own company.

Finally, the last speaker, Anette Nordvall, an angel investor talked about her funding experiences in California and the US. She, along with a group on 50 angel investors in STOAF, fund fast growing ventures and also guide them based on their experience and expertise. They invest in early ventures, help the companies grow and exit in the series A funding 2-3 years later. She had a valuable advice to potential founders in the audience – “If you can fund yourself, do it. That’s the best option. Funding is not easy or fun, either for the founder or the investor. It involves many steps and a lot of effort from both parties.

Overall, I felt very educated about the different investment terms after listening to the founder, investor and corporate lawyer’s perspectives on startup funding. I also met a budding startup founder from Stockholm and shared some perspectives on the different startup cultures in Singapore, Stockholm and India. I would highly recommend future events by SUP46 since they have good speakers and the sessions are usually held in the evening at a convenient time. It’s a great opportunity to learn and meet like minded people.


I finally attended one of the famous SUP46 happy hours! I have been hearing about such start-up events for the whole year, but it simply never matched my schedule. This time, I decided to make the effort as I was looking for a summer job pronto. The SUP46 happy hours have a great a success formula – a free-beer mingle of entrepreneurs and developers sponsored by some organization or corporation.

As I headed to this event with the intent of networking with start-up CEOs and CTOs, I did not even pay much attention to the fact that Grant Thornton would also be at the event. I’m not saying that I would not want to work for GT, but it is notable that such gigantic accounting and consulting firms start their recruiting almost a year before their lucky interns start their summer positions. Therefore, I arrived and immediately asked around for start-ups.

Unfortunately, there were not too many entrepreneurs at that specific happy hour event. I managed to speak with a few of them, but they were in technology fields in which I have no skills, such as the 3D printing business. While a small number of entrepreneurs were present at the event, that happy hour did not fall short of students. Many of them were familiar Lappis neighbors who seem to be omnipresent in corridor parties – not many of them involved with start-ups or technology. In fact, this event might have been repurposed by some students. SUP46 is now the hottest pre-gaming event in town – mostly because it has free beer.

I am curious to see how the event organizers are going to manage the mismatch between intended audience and attending audience. While these events look like a great success on attendance numbers, sponsors might not be getting much return on investment if their recruitment teams are unable to reach prospective employees. I still give props to SUP46 for hosting such a well-organized event, and I wish them luck in reaching their goals through their future events.

or: Don’t Think Too Much A/Bout Lean Failure of Fashionistas.


On November 22, 2016 I visited the Lean Tribe Gathering 41 in Stockholm, together with fellow student Fuji King (name modified by the editor).  The event took place in SUP46 (Start-Up People of Sweden), Regeringsgatan 65, 3rd floor, 111 56 Stockholm from 17.30-20.00.

What are LeanTribe Gatherings?

SUP46 Partners

Lean Tribe is a Swedish association of enthusiasts for agile and lean software development that organizes and supports meetings around this topic and disseminates information through its website. DevTribe and BizTribe are sister organizations of LeanTribe.

Main Theme: Lean Startup in Practice

The event refers to a statement of Eric Ries that says „Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously“ (Eric Ries, 2011). According to this, the four invited speakers were entrepreneurs and/or change agents in IT companies with experience in leading towards value innovation, who work with fast feedback loops toward smart product development. The event was sponsored by Google.

The Presentations

Jonas Hombert (Optise AB): A mindset for quick failure and slow success.

Jonas Hombert aligned his talk around the three key aspects of failure, flexibility, and feeling. According to him failure has to be a mindset, it is something that happens when you are trying new things. It is a transitional state and not something that is fixed, as there will be a point where we will start to succeed. He recommends to celebrate failure (e.g., with a failure wall) and learn from it. Regarding flexibility he recommends that whenever we build new things we can never be certain that it ist he right thing, we don’t know how many iterations are necessary – therefore we should focus on doing things right rather than on perfection. Especially engineers have to change their mindset, as „whatever we release will fail“ – at least at the beginning. We have to change our perception and search for tight feedback-cylces to fail fast. Feeling: instead being a highly data-driven business it is important to focus on the local rather than the global maximums – and ask „is a button the right thing“ instead of „what is the right color of the button“. Don’t just focus on the data, but do radical new things, too! Take a step back from optimizing.

Cecilia Borg (Looklet): Expanding without the pain – DevOps and values.

Cecilia Borg has already 15 years experience in pain while growing IT companies. Within her last company, King, she took backend responsibility for 1.500 employees and 20 game studios, as well as 120 backend developers – a work in need of collaboration and interdependency, fixing things every day. Here she learned:

  • Engineers don’t want to assume responsibility. (anonymous executive)
  • I’m angry. I shout at idiots, so they won’t do idiotic things. (anonymous architect)
  • I would never put my name on a report like that (politically sensitive). (anonymous manager)
  • He shouts at us. Too many projects he won’t like. (anonymous product owner)

Here is something wrong, she thought. These are growth pains related to organizations that need to expand too quickly. In huge organizations, people feel no longer aligned but lonely – they literally build walls around their groups, throwing things over the fence.

Her solution to that:

  • Make sure people CAN.
  • And feel COMFORTABLE.
  • With associated RESPONSIBILITY.

The values should be trust and responsibility, transparency and collaboration, based on agile methods.

Yassal Sundman (Crisp AB): Iterative feature design using A/B testing.

Yassal Sundman points out several decision making pitfalls, for instance:

  • The loudest person wins (whereas the loudest is not the brightest, often).
  • The Boss tells you (hierarchy does not mean great answers).
  • Consensus (you might end up with grid lock).

Instead, she recommends to test to a decision, starting with a hypothesis regarding a product and ist users, define testable alternatives (related to acceptance critera), do A/B testing and make your decision (might not necessarily be a solution) on the hypothesis. She described several A/B test variants and pitfalls (e.g., bad hypotheses – bad results, inapplicable data (desktop vs mobile games), poor data analysis, untestable prototypes or a too data-driven approach. The outcomes of this strategy are faster development times, building the right thing, knowing what is being build and early identification of risks.

Erik Frisk (Touch&Tell AB): Leaps of Faith in Lean Startups.

Erik Frisk Toch & Tell

Erik Frisk describes the situation that a product doesn’t solve a real problem and a startup has to start new. He recommends, based on his own experiences, to jump without checking how deap the water might be, rather than chosing the common data-driven, scientific approach. Get out oft he building will eliminate uncertainty. But not all uncertainty will be eliminated, this is impossible, and insofar the lean startup mantra is incorrect. He warns to do too much thinking – although it is human to be afraid of the future. It is necessary to find a balance and to do a small leap of faith each moment.


It was a highly interesting event and we gained valuable insights also into Open Space method after the talks. We will follow upcoming events at SUP46 and will attend the next LeanTribe event in Stockholm. Thank you for inspiring us to move out of our comfort zone and dig into real business life – how to move from (academic) analysis-paralysis to action. 🙂


LeanTribe Stockholm (2016). URL: (last access: Nov 27, 2016)

Ries, E. (2011) The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Crown Business.

SUP46 – The Startup People of Sweden (2016). URL: (last access: Nov 27, 2016)

On the 15 of November Sup46 hosted an event with guest speaker Bill Buxton. Bill buxton is a Canadian computer scientist and designer. Well known for being a pioneer in the human-computer interaction field.

Bill told about what he learned in the field of technological innovation. He started with the Edison myth. Everybody thinks Edison invented electricity, but he says this is a myth. Edison bought a lot of inventions and patented them. So, he put his name on the invention and hope that the inventions would become a success.

According to Buxton, Innovation has a long nose: technological innovations do not move fast. Most of the techniques used in the 1 billion industries are invented at least 20 years ago. The invention of these techniques are under the radar for a lot of years, till the market is matured and prepared for the use of the invention. A great example of this phenomena is the capacity multi-touch. Buxton and a team of engineers developed this technique in 1984. Apple used this technique for the first time in their iPhones and iPods that came out in 2007. Steve Jobs said during the keynote that Apple came up with a new technology and that it would become the next big thing (the Steve Jobs myth.)

Nowadays students and people are told to come up with the next big thing and capture the market. As Buxton says, this is all a lie and people are destined to fail if they believe in this myth. But how should we innovate?

  • Prospecting:
    • Look around. What kind of products were produced in the past, what kind of technologies were used(, but not anymore), what products are on the market, what inventions are done, and what technologies exist?
  • Mining
    • Filter on which ideas, inventions or technologies could be useful.
  • Refining
    • Use the found invention(s) to come up with a new product.
  • Goldsmithing
    • Bill Buxton: ‘Making the product worth more than its weight in gold.’

In conclusion, it is really important to know your history and look around.


One last question arises, what is going to be the next big thing according to Bill Buxton?

A lot of the devices and products used nowadays are not connected at the moment. All the product are used on its own. Bill Buxton said that the step in innovation will be that all the devices used will synergies. It is important that the product will work on its own, but at the moment you come close or use another device they will connect. The devices should complement each other’s usage. For example: somebody is on the phone and the person has to leave for work. The moment the person enters their car and start it, the phone will connect to the car. The call switches to the hands free set in the car. The person is then allowed to drive and can go on with the call without interruptions.

Last Monday, Nadia and I voluntered at the Fem Tech #5 event at SUP46.We got there one hour before the event was intended to begin, and we met with Lana. She  introduced us to the people working there and  to two other girls who also were voluntering that day. We got to help out with the catering and registration of the guests. And it was actually much more fun than what I had expected it to be. And I do recommend people to visit this awsome place and to start networking. Or if anyone is interested in being a member in their volunter-group, than just contact them and give them your information.

The event was intended to only be for women and to encourage women into the entrepreneurial world. Three successful women presented and spoke about what they had done so far and what they had accomplished. All three start-ups were successful, whereas one of them was an app, that I can’t remember the name of, and had over 1,6 million users.

One of the best things with this event was to hear about their journey and how they actually had become successful, not only as entrepreneurs but also as women.


This week was full of entrepreneurship and StartUp events and I will cover in this post the many things I learned from it.

On October 10th we went to the monthly STHLM TECH Meetup, which is basically a networking event that brings big investors in contact with the StartUp base and also lets anyone who is interested get a bit of an insight into the scene. This month’s guests were H&M CO:LAB and Nordic Makers.

Learn the language

The first part of the event was introduction of the guests and a report on how the STHLM TECH meetup has developed over the past 4 years. It was interesting to see the terminology (Angels, A rounds, B rounds, … ), that has just been taught to us during the lecture on fund raising, get a real life application. The entrepreneurship scene has its own language and you’re only going to learn it by constantly exposing yourself to it.

Learn pitching

After that came three pitches that turned to be … let’s say “sub-optimal”, but they got valuable feedback, which I will combine here, with the feedback that we got on our venture project pitches in the Entrepreneurship class.

Make it undoubtedly clear which value your service offers 
Remember that your customers only care about how they can apply your product for themselves. They don’t care which features and functionalities you provide, as long as they can’t imagine it actually adding value to their lifes.

Two things investors like to hear in your pitch:
What I really want to change in the world is …
We’re doing this thing open source …

Story telling
They want you to take them on a journey, so they can feel an emotional relevance to your product. Telling a story always gives more context to how your product can be applied in a real life setting.

Show me the product!
In the first 30 seconds you should show what your product actually is. Show them what you spent all your time and energy on developing. If computer generated renderings of a design are the closest you have to a product, then start your presentation with those. Also DO NOT show your behind the scenes development work. Investors want to be promised big shiny finished products, they don’t care about the technicalities.

To all the collectors
If you’re doing aggregating of existing services into one central service you still need an added value. Simply providing a collecting pot is not enough to draw users in.

Learn networking

During the event everyone had the opportunity to use the Hashtag #STHLMTECH on their Twitter posts, which would then be automatically retweeted to all the followers of Sthlmtech. This gives you access to a massive audience, which is perfect for when you’re looking to grow your followership. I actually gained several new followers that way.

After the event most people left, which always surprises me, because that’s when the really interesting networking parts starts. So we were chatting up all kinds of people including the Moderator and some Venture capitalists who gave us their contacts.

One useful side-effect of speaking with that many people is that you’re basically forced to explain your product idea again and again and you keep getting feedback on it. Trust me, nothing hones your elevator pitch better than repeating and tweaking it over and over while networking at an event like this.

One guy I met called Mikael Lenart runs a company called “Venue”. His service connects artists with venues and lets the audience decide who gets to play by voting for their favorite band with the purchase of a ticket for that band on that day. If their band does not play, no money is transacted. This reminded me of a company that I knew from Germany and I gave him their website, so he could do some research on it. After that we were chatting about the Sound Hub and he recommended me to go to the STHLM Music City event, which would take palace at SUP46 the next day. Since I already knew that place i happily agreed.

See how it’s really done

The STHLM Music City event was an amazing experience with speakers from Spotify and live demonstrations of the new app by pacemaker. Their presentations were really well done and could be described as 70% images, 20% charts, 10% text. That way the attention was much more on the speaker themselves. Also two guys presented their events SLUSH and SLUSH MUSIC which will take place in Helsinki on the Nov 30 – Dec 1.

Obviously more networking followed after the main presentation and I met some more people, which gave me important information about potential future competition for my Sound Hub project.

On the Wednesday after that I went to the Nomination Event for the Bicky Chakraborty Entrepreneur Program which took place at the KTH. It was good to see students from the KTH that followed their passion and finally also got some substantial funding for their further company development.

The day we had our class at 8.00 a.m. I was the first to arrive, so Serdar and me started to talk about the course. I told him, I am really not into this entrepreneurship thing, that I am just in this course, because my home school is interdisciplinary (that means we have to take a lot of mandatory courses, sometimes even if we don’t like them). Then he remind me about intrapreneurship, in that moment I have already think about it, but it was only like “ok, may be it’s a possibility”, but it was until I went to Product Tank, that I am really into intrapreneurship and I am looking forward to become one.

Image result for product tank

So Tobias’ Blog, has already talk something about Product Tank, then I will just leave you some tips of the product managers that I found valuable:

Be the Visionary

Image result for vision

“Paint a vision of where you want to go”

Delegate Responsibilities

“Aline the people with your vision, get everybody involved”

Identify your Stakeholders

Image result for identify

“They are the decision makers, get to know what is important for them”


“Show the stakeholders how, when, why and where”

Peace Keeper

Image result for peaceMalin Cammack, who had the most years of experience in the group, said that sometimes you have to know when to take a step back and your job of that day will be to create an internal and external peace, to be able to negotiate, solve the pain and keep all together. Also, to control your emotions as well, yeah that doesn’t sound like an easy job.

This event help me a lot, I recommend you the events on SUP46, a great experience form beginning to the end.

This is a short story illustrating how networking is so far the most powerful tool to progress I have encountered.

Recently we had a guest speaker in our entrepreneurship class (ME2603) and she mentioned the SUP46 Startup Café as a good place to connect with people. Since I was looking for startup events to attend and also for feedback for my venture idea I decided to follow my own advice and just “be present” there. (Check out the article here)

Putting yourself out there

When I entered the café it was rather empty and i took a quick look around before chatting up someone standing at a table. It turned out, that this person was Lana Kaupuza, the receptionist of SUP46. I explained to her the reason for my presence: to collect feedback and find people who might help me with the development of a prototype for my venture idea, the Sound Hub. (See the website here)

After explaining the idea to her she started coming up with very useful feedback and ideas for improving the business model. She also gave me several tips on how to proceed, which events and institutions to go to and even gave me a tour of the SUP46 office.

While talking to other people and collecting feedback on my venture idea I ended up helping some people from a start-up called “Nosto” in the presentation room to set up their Background screen for an event they would host that evening.

When I articulated to Lana how happy i was to get to meet all these interesting people and getting all this positive feedback she said something that stuck with me:

“There is really just two things that we have control over: Attendance and Attitude”

Networking Success

Shortly after leaving the building I started getting invitations to several Facebook chats…

Turns out Lana had asked on her Facebook if anyone was interested in helping with a project including electronics and Bluetooth and then connected anyone interested with me.

Me with my new partner

Me with my new partner

From one of these chats emerged a meeting with a guy named Shehryar Khan, a software developer at Ericsson. We met today in the Startup Café and had a quick chat about where I was going with the project and how it could be realized before he agreed to help me with the development of a prototype using an Arduino Development Kit.

This result was beyond by wildest expectations and I’m very excited to see the further development.

What can you take from this post?

  1. It’s proof that simply showing up at the right place and talking to many people can yield great results.
  2. It shows the power of networking and creating the kind of connections with people that make them happy to help you.
  3. If you feel like getting ahead with your project, but there is no start-up event happening at the moment; just got to the Startup Café at SUP46, you wont regret it!
Broccoli soup at Startup Cefé

Broccoli soup at Startup Café

PS: The Startup Café also offers very tasty food.

I guess everything started when I came to KTH, only to discover that innovation is possible, and people like you are doing it!…

I’ve lived in the suburbs of Stockholm my whole life. And not the good kind. The kind where drug dealing is common and theft/shooting happens every once in a while.
But I was a good boy. I was smart they said. I got good grades and my future would be bright.

That was the view of everyone except my Father. Not because of something personal to me, but because he was not a (business-)optimist. So I grew up thinking that it is
hard for everybody except the wealthy 1 % who controlles everything. I would become a doctor, get a job/house/kids and that would be the best I could do.

Then I started at KTH and I couldn’t help but to get fascinated by the innovation that is done by “regular people” and youths. People just like you and me! Being exposed to talks and events at school, I felt that the more experienced were very encouraging. I guess I was so fascinated because I had so low  expectations.

I happily dwelved into the startup world by going to events where I found out that it is a rather small community, and everyone knows each other. Even though I was busy with studies and web design, I took the position of being a Brand ambassador for two startups. I am now the Brand ambassador at KTH for Venture Cup.

The whole time has been like a 1-year-journey in a flow state. Novelty, new challenges to overcome & room for personal development are always found in the  Startup world!

Next year, I am the project manager of Entrepreneurial Days here at KTH which you are invited to. But even earlier than that

Join me at SUP46 today
(I was planning to post sooner but I was busy recruiting)

PS. You must know about Venture Cup! Far too many students have an idea but think that they are too young/inexperienced/incompetent to execute. That is most likely not the case.

Venture Cup is Swedens biggest competition for ideas and Startups where you can win 260 000 SEK. Talk to me if you have an idea, there’s tons of free support to get 🙂