FOR COMPANIES


Need help in your search for funding?

Is your company seeking capital? If so, Odense Seed and Venture can assist you in the process. To apply for our assistance:

To start the process, you must submit a written business description to us. Upon acceptance, you can receive business development assitance and get the opportunity to pitch for potential investors in our investor network.

Two external, independent partners will evaluate your business on Tech Readiness and Capital Readiness. The evaluation points are:

  • Your team/organization
  • Your Business Model
  • Product-Market Fit
  • Tech Readiness
  • Problem – Solution
  • Sales – Market Potential
  • Economy – Strategy

How to proceed?
Send your written document to Michael Hansen, mhann@odense.dk – or even better, call Michael on +45 23 414 007 and get some inputs on how to write your business description.

You will receive feedback within 14 days.

Why place your Business in Odense?

The City of Odense is home to attractive growth clusters within robotics, drones and health technology. Invest in Odense matches your company with investors.

Invest in Odense’s Investor Network is primarily interest in investing in companies within the robotics, drone and health area. In addition to funding, the investors contribute with expertise, networks and knowledge of the clusters – key success factors of a start-up, which can be brought into a partnership. We identify investors that match the individual capital-seeking company. Thus when your business needs to grow, Odense is the place to be.

We have designed a structured 7-point model to matches investors with capital-seeking companies who need funding to realize their growth strategy.

Innovation projects go through a development process from raw idea to well-established companyScreening of the idea modelDifferent investor types are interested in participating at different stages. The investors in Invest in Odense’s Investor Network will typically participate in projects that, as a minimum, have achieved Proof-of-Business. Companies and projects at the of Proof-of-Concept stage can be of interest, but these projects are forwarded through other channels (growth fund etc.).

In the first phase, a professional screening of the received ideas will be made – a prequalification, to ensure that the project has the required potential, is suitable for investors, and has achieved Proof-of-Business as a minimum.

A facilitator within the framework of Invest in Odense will be appointed. The facilitator is the coordinator and controls the process, all the way to when the project reaches an agreement with one or more investors, or is cancelled.

A screening board consisting 2-3 professionals with relevant skills for the actual case is established using Invest in Odense’s network. The role of the screening board is to undertake the pre-assessment of incoming projects. The screening board reviews the projects and selects the projects with the highest potential, and which projects that will have to seek other options. The facilitator advises the company about alternative options.

The selected projects move on to phase 2

The facilitator invites the company to a meeting with the following agenda:

  •  Detailed presentation of the idea
  • Presentation of the development stage of the project
  • Review of available material about the company – a business plan or the basis for the business plan
  • Review of the further process towards an investor presentation
  • Establishing overall requirements for the business plan
  • Discussion of requirements and reconciliation of expectations for capital requirements and cost
  • Agreement on the time schedule
When the facilitator has received the business plan, is it distributed it to the screening board for review and comments. The facilitator collects comments and continues according to the following process program:

Assessment of the business plan model

 

The screening board has approved the project, but the business plan is not suitable for bringing forward, then a sparring partner/consultant is suggested for the company, to assist with the development of the business plan.

The task may include, one or several, of the following:

  • Layout
  • Providing documentation and presentation thereof
  • Change of plans and strategy – adaption of the business model

These very different challenges require very different inputs and will vary enormously in requirements for competences and time. The company must be prepared to pay the necessary costs thereof.

The facilitator creates, together with the company entrepreneur, contacts the relevant parties.

The business plan is then sent back to the screening board for approval.

Phase 5 will then be Preparation of the Investor Presentation.

Based on the Business Plan an Investor Presentation will be prepared for the investor meeting. The Investor Presentation should support a Pitch on 10-15 min. and aims to awake the interest of potential investors.

Based on the Business Plan an Investor Presentation will be prepared for the investor meeting. The Investor Presentation should support a Pitch lasting 10-15 minutes and aim to awaken the interest of potential investors.

The content of the presentation will typically be:

  1. The problem / need
  2. Solution, product, service
  3. Business Model
  4. Customers and market
  5. Competitors
  6. Status and milestones
  7. Team and company
  8. Economy and budget
  9. Capital needs and investor profile

 

A sparring partner/consultant will be suggested, to ensure a professional pitch that supports the development of a powerful presentation, as well as to train the company in how to pitch a business plan. The company must defray the necessary costs.

A strong pitch can ensure that the company avoids common pitfalls:

  • Not having mastered the competitive position of their product/service
  • Not having a clear definition of what need their product/service cover
  • Not having a solid business model
  • Not having control of the economy in the project
  • Not being aware of which organizational requirements the project requires

 

A key element is determining the valuation of the company.

The valuation of the company is often one of the main obstacles to reach an agreement. Therefore, the company is offered to undergo an accredited valuation an assessment providing a solid starting point prior to the presentation to the investor. The company must defray the necessary costs.

At the investor meeting, the company gets 10 minutes to pitch based on the prepared Investor Presentation. After the pitch, 15 minutes is allocated for follow-up questions.

Afterwards, investors and the company discuss further individually, and may agree on continuing the dialogue.

Investor meetings are held quarterly with 4-5 projects at a time. In addition, ad hoc meetings will be held if the facilitator finds that an extraordinary meeting will be beneficial.

The final step in this process takes place outside of the present framework.

This face involves connecting advisers to the company- accountants, lawyers, competence etc. to the project (for such competences take a look at Invest in Odenses Service Provider Network).

Get Connected

For further information, please contact:

Investment Manager,
Michael Hansen
+45 23 414 007
mhann@odense.dk

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