A New Dawn For Data
As this year’s Nobel prize winners were walking into Stockholm City Hall for festivities recently, the temperature was climbing below zero in the December night outside. This institution of celebrating science has been vital in our nation´s branding for well over a century now, and rightly so. Together with the other Nordic countries, Sweden continues to push above its weight in scientific discoveries in numerous fields, including medical science.
Taking the temperate on our nation´s ability to transfer those discoveries into commercially viable growth companies is a more complex matter, one that is not for this article to measure. However, as companies are gearing up to head to San Francisco for the upcoming JP Morgan conference, they should remember to stand tall as they present investment opportunities that are likely to be well backed by facts and figures. It’s built into our innovation system and culture to prioritize reliable metrics over fancy business plans. Something which has been subject to criticism over the years, as the brief attention span of investors at pitch meetings are likely to premier those with outstanding communication skills over those with outstanding data.
Once in DD mode, there is no hiding from the truth though. Not for the intelligent capital you are looking to bring onboard at least. Maybe, and here is where I am arguing for the rise of an opportunity for our Nordic start-up scene, even less so now. With financial actors holding on to their money, selectivity should play in our favor. It’s not so easy to sell illusions with grand words these days. Communication skills, networks, how your team is performing – all of that is still imperative, don’t get me wrong! But it might be that the relative importance of solid data is shifting in relation to owning the stage in your native language. And that is where the somewhat more reserved Swede might stand a chance. Make use of the trust that comes with having done your science homework.
To be on the safe side, companies destined to San Francisco early next year should work hard to ace all of the above. That is the takeaway message from companies and investors interviewed for this piece – competition is sharper than ever.
I wish them best of luck as they will be traveling the globe for partnering events in the new year. Don’t forget to pack your data!
Read more here , including interviews with Sarah Fredriksson (CEO Aqilion), Nina Rawal (Co-Head Ventures and Partner at Trill Impact Advisory) and Stina Wallmark (Investment Director Life Science, Voima Ventures).