Startup Factory - Building startups over and over again There are unlimited ideas out there, but way to often startups hold on to the wrong ones for two long. At Seed Nordic we’re building a factory where we play around with ideas on a weekly basis, quickly validate the best ones and aim to kill everything but the extraordinary. Listen in to learn how we implement Lean Startup and get inspired on how you can validate your ideas in real life. Bio Kenneth Hellem is an ex management consultant turned entrepreneur / investor. He has started two startups and invested in three. He is the founder of Seed Nordic, a Stockholm based accelerator, and is creating a startup factory in a castle.

1. Kenneth Hellem
Seed Nordic - Startup Factory
kenneth@seednordic.se
Twitter: kenneth.hellem
Killing
your darlings
LSC Meetup - Zagreb
March 31, 2015

2. 3% Europes
Population
33% Billion $
Startups
The Swedish
startup-scene
is booming

3. Co-working spaces
Incubators & accelerators
Inspiration & knowledge
But the environment is
only part of the answer…

4. I D E A
+
T E A M
What I’ve learnt from
pre-seed investing
It’s impossible to predict the success of an idea
(But most likely it will fail…)
It’s more fun to build stuff, than to invest
A rockstar team can go far with any idea
(Don’t be afraid to pivot or completely change ideas…)

5. Idea
Generation
(~1
day)
Market
Validation
(4-­‐6
weeks)
Venture
Development
(3-­‐4
months)
“Market
research”
Network
validation
Team
gut-­‐feel
Concept
development
MVP
/
Prototype
Market
validation
Business
model
&
plan
Product
development
Customer
development
Generate
first
revenue
Raise
seed
investment
Incorporation
Hire
team
Scale
Business
Raise
A-­‐Round
The Pivot
Seed Nordic, Startup Factory

6. MVP: 2 weeks
Launch: 2 months
Hanging on: 2 years
Teaching New Yorkers to cook at home

7. Your idea is not as good
as you think it is
Confirmation bias is very real
(Founders fall in love with their ideas)
Market validation is king
(Stop assuming - start selling)
Only the very best ideas will survive
(The quicker you can kill the bad ones the better)