Seedcamp judgment day

September 19th, 2008 by Mattias Tyrberg

Friday, the last day of a fantastic week here at Seedcamp. Today the winners would be announced. Even if we ever since the start of this competition had said that winning wasn´t important and that the most valuable was to meet all this great people we have met during this week, we couldn´t help feeling a bit nervous.

The winners of Seedcamp receive £50.000 pounds each, in return Seedcamp gets 10% of the companies. In addition to this, the company moves to London in order to be able to use lawyers and accountants that Seedcamp provides. For us moving the whole business to London right now wouldn´t be optimal since we have Swedish customers to take care of and a technique that needs to be more developed before facing the huge international market. Still, we had Fredrik Hörte prepared to pack his bags and leave Sweden if we won.

Seven companies where named winners, Saplo wasn´t among them. For us it didn´t come as a chock, since we had no demo to show, Seedcamp had to base their decision on what we said we could do and they probably thought it would be safer to invest in some of the companies that already had their products up and running.

Right now it´s mixed feeling going through us, it would have been great winning, still it´s kind of a relief to get some weeks in Sweden developing our product before taking the step out on the international market. In three months we will be back in London, pitching for venture capitalist, and then we will show them something never seen before…

We would like to finish our reports from Seedcamp with a big congratulation to the Seedcamp winners! All of you have really shown that you are worthy winners and we look forward to see your companies climbing to the top. It has been an honor meeting you, best of luck in the future, we´ll keep in touch.