Programs to get up to speed on the oppstartsselskaper is a huge phenomenon in the Silicon Valley. Renowned Techstars now establish themselves in Oslo.
– We will set up Techstars Norway for the energy sector. We will take applications from all over the world and select ten companies that will be two in three months in Oslo. Finally concluded it to commercial agreements or investments in companies, ” says Audun Abelsnes, entrepreneur, lecturer at BI and now primus motor for Techstars in Norway.
Techstars is little known in Norway, but globally, the company is one of the players in the elitedivisjonen among the so-called “akseleratorprogrammer”. The programs lasts typically for three months, and the point is to let entrepreneurs work intensively under the guidance of experienced mentors, as well as putting them in contact with networks of investors and potential customers.
- Founded in 2006 and had great success with the first ten companies that participated in their mentor-driven akseleratorprogram.
- Is present in 16 cities, and jobs for the establishment for at least three years in Oslo, with a focus on energy technologies.
- Require six percent interest of the participants, provides a scholarship of 20,000 dollars and offers a convertible loan of 100,000 dollars.
- Companies in the portfolio has collected over three billion dollars
- Have gotten to over 100 sales or initial public offerings
- Features a private investment fund of 300
- Owner of the Startup Weekend concept, with events in 150 countries.
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the Cookbook
Techstars has partially written the cookbook on how to create an accelerator. They have a very solid reputation, so it is good news for the country if they establish themselves here, ” says Anne Worsøe.
She is teknologispaltist in DN and is responsible for investments in start-ups in the Ground & Bæck. She was previously the director of Innovation Norway in San Francisco.
The phenomenon of “accelerator” has been around a long time in Silicon Valley, but came first in earnest to Norway in 2015, when the u.s. 500 Startups tried out, ” says Worsøe.
They introduced akseleratorkonseptet in Norway, and even though they gave up after one year, they set in the walk a wave of new accelerators, she says.
Worsøe pull up Y Combinator as the very strongest environment internationally, but places the Techstars among a small number of actors directly below.
– Very
” It is very exciting that it comes into international environments. But the determining factor is which team they put in. The value in an accelerator is always in the people who are with and the network they have, ” says Rolf Assev in the StartupLab.
He believes there are now many akseleratorprogrammer, but that the value for the participants may vary.
– the Y Combinator is the world’s best because they have the best network in Silicon Valley. If they call Sergey Brin in Google then he comes, ” says Assev.
Pay with
StartupLab work for the time with DNB about setting up a akseleratorprogram. DNB pays for the program, without that it gives them ownership in the companies. Techstars is also dependent to get local bedriftssponsorer to get started in Norway. Neither at StartupLab or Techstars has industripartnerne any pre-emption rights in the companies.
– They come into the accelerator, will be to choose out the businesses and get to know the companies. They have no exclusive right to invest, but in practice, it often happens, and they are associated with Techstars, says Abelsnes.
the Reason why Norway is interesting is the great environment we have of the energy-related industry. From before of have the similar industry-specific applications within the field of artificial intelligence together with Amazon, and finansteknologi with Barclays Bank.
– It is not only for Norwegian companies. There can be no of participants come from Norway, but certainly not all, ” says Abelsnes.
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