Startups To Watch: Nordic Startup Awards 2018

One of the Nordic’s most prestigious and biggest startup events has come to an end. The Grand Finale of the The Nordic Startup Awards 2018 took place in Denmark. This year, the competition had reached the number of 2,500 startup nominees, which were thoroughly screened and evaluated by 50 expert ambassadors and jury members. The winners from these rounds were then further ranked by an international jury, and their decision was eventually combined with over 35.000 individual public votes from each of the five Nordic countries.

As a unique series of events in the Nordic countries - Denmark, Sweden, Iceland, Norway, and Finland -  Nordic Startup Awards recognize, celebrate and connect the Nordic startup ecosystem bringing together innovators, growth companies and entrepreneurs from all industries possible. With no exception!  

All countries have presented high quality candidates and there is a good balance between B2B and B2C companies, also characterised by being extremely scalable.
— Kim Balle, CEO of Global Startup Awards

We wish all the luck to the winners, that will have the opportunity to compete further in the Global Startup Awards in 2019. Meanwhile, as the voting has been complete and the new startup heroes have been chosen - here is a summary of startups that took the winning spot in 8 categories.   

Nordic awards.png

Stay tuned for more industry insights and digital sneak peeks!

Yours, Catapult team.


Sources:

http://www.eu-startups.com/2018/10/nordic-startup-awards-2018/

http://nordicstartupawards.com/

7 Industries VR/AR Is About To Transform [infographic]

Catapult_poster (3).png

There is more to VR/AR than gaming. The potential of this technology across a variety of industries is extensive, anything from healthcare to real estate and education can find its processes reinvented using VR/AR in no time.

Speaking in numbers, AR/VR startups raised $3 billion in 2017, and the number is expected to be even higher by the end of this year.

We’ve listed 7 industries, that at the first glance may not appear as VR/AR-friendly industries, yet have more and more immersive technologies utilized in day-to-day processes and operations.

Infographic, 7 industries that VR/AR is about to transofmr
 

WHAT STARTUPS ARE IN?

1). Retail

Bold Metrics, formerly Fashion Metric, uses machine learning, math, and data science to personalize the customer experience in-store and online.

https://www.boldmetrics.com/

2). Agriculture

Infosys has a stake in AR/VR for agriculture through its Plant.io project, which is an open source, plant-growing platform that aims to bring new forms of software-driven intelligence and interaction to the plant growth cycle.

https://www.infosys.design/plantio/

3). Marketing & Ads

OmniVert provides a “360° Virtual Reality advertising platform” whereby brands, developers, and publishers can monetize and disseminate VR content.

https://www.omnivirt.com/

4). Military

ScopeAR uses augmented reality to equip military officials with “computer vision technology” to help with equipment maintenance and repair. The Company integrates the most current AR technologies into their solutions, and AR glasses providing the user with a "See-It, Do-it" experience.

https://www.scopear.com/

5). Law enforcement

VirTra is a global provider of training simulators for the law enforcement, military, educational and commercial markets, e.g. de-escalation training, judgmental use of force and firearms training simulator.

https://www.virtra.com/

6). Healthcare

AccuVein is a provider in medical imaging, offering a hand-held, non-contact vein illumination solution, which allows nurses and doctors to see where various veins and valves are in a patient’s body.

http://accuvein.com/

7). Recruitment & HR

Mimesys is applying AR/VR to provide collaborative remote work - it is the first holographic meeting platform, which puts real people in a shared virtual space from anywhere in the world.

http://www.mimesysvr.com/


Those were just a few examples to illustrate how VR/AR is evolving even in the sectors unusual for such technology. Glancing at the more traditional industries like manufacturing, logistics, banking and construction - VR/AR is an ultimate tool for more efficient processes and more engaged customers. About this and other tech trends in the upcoming industry insights! Meanwhile:

Stay tuned for more industry insights and digital sneak peeks!

Yours, Catapult team.


Top 4 Learnings from Israeli Startup Ecosystem

Catapult_poster.png

It’s been an active week in the Finnish startup and innovation scene - Stream Festival, Smart City Week, Mindtrek, KASVA - just to name a few. While being at the epicenter of all the action revolving around the topics of startups, businesses, tech and the future, Catapult had a few fruitful backstage discussions with investors and serial entrepreneurs from Israel. They flew to Tampere, Finland this week to share key insights on the startup ecosystem of Israel, and ultimately answer the question “How could a small nation, like Israel, has as per capita more startups, more VCs and more tech professionals than any other nation in the world?”

P1030852.JPG

Here is what we’ve learnt:

1. It’s about the culture. Technology will come.

A key factor of Israel’s startup innovation ecosystem is the strong collaborative work and interconnections among its people, which in return promotes exchange of ideas. The culture of sharing, whether it’s information or resources, has been one of the most fundamental principles of open innovation concept. Israeli startups elevate themselves by sharing success stories and also support fellow entrepreneurs by sharing failures and lessons learned. Learning from failures is an essential part of gaining experience, hence sharing it may as well help others.

Sharing? It also comes down to how companies position themselves in the eyes of the public and VCs. - Being humble is good, but being ballsy is even better when it comes to promoting your talent, showcasing your startup tech, leveraging the power of social media to let the world know about your ventures. It’s all about connecting to people and ideas, building strong networks, actively sharing your startup milestones. The network of people grows from army to school to neighborhoods, and many social circles overlap expanding to larger interconnected networks, wherein community connections easily become industry connections and vice versa. A strong sense of community also creates “pay it forward” culture.

The habit of discussing things - seems so basic at first sight - yet lacking in many cultures (especially in the North Europe). In Israel, it is quite normal to discuss new business ideas or projects over dinner with friends and family, which may transform into the first prototype next morning - things move forward. Fast. The culture also happens at a higher level - there are organizations in place that foster innovation in various industries. Like, for example, Israel Innovation Authority. Anya Eldan, the general manager of the startup division at Israel Innovation Authority, explained: “We’re a very small and multidisciplinary country. There is one degree of separation. You can reach anybody very quickly.”

2. Stay close to startups - Open Innovation.

Israeli startups have received €1.7 billion across more than 230 deals so far this year. And the funds come not only from VC firms, but also corporates. Israel Innovation Authority, already mentioned earlier, recently launched a program called Technological Labs Innovation, which encourages corporations to support startups in their respective fields. More and more corporates in Israel adopt the open innovation concept. And even though these corporates might invest in and eventually acquire startups, their main objective is integrate into Israel’s innovation ecosystem and get insights on the latest developments in tech field. It also allows corporates to discover startups and co-develop technologies that they can later offer to their customers. Head of communications for Microsoft’s accelerator program, Maya Grossman, describes, “Innovation is not easy. If you want to stay close to innovation, you need to stay close to startups.”

3. Kids are the future.

Israeli culture of openness, innovation, hard-work, transparency and determination is laid down already in childhood. At Stream Festival, Neve Gull, an Innovative Pedagogy Entrepreneur at EduVationIL pointed out a few things that the teachers integrate in 4th graders’ program to build the next generation of entrepreneurs, engineers and innovators. Even though, she stated that there is not much Finland can learn from Israeli educational system, there are a few things that do indeed foster the more collaborative and innovative mindset. Neve Gull describes, “We are detecting kids’ talents in 4th grade - whether they have skills in math or programming. We enhance and push the best students forward teaching them analytical skills and computer skills, so that later in life it will be easier for them to start programming. It starts early. We also build school assignments around the project work, which teaches young kids uncertainties, deadlines, goals, remote work, leadership, collaborative tools. It also stimulates their ability to see various solutions to a singular problem - knowing there is always more than one way.”

4. What happens without the money?

It wouldn't be a complete discussion on the startup ecosystem if we didn’t cover the essence of VCs funds in Israel and how investors look at startups before flowing their cash into them. In all fairness, nothing happens without the money. But one of the Israeli investors on stage of Stream Festival posted a question, “What happens without the money? Can the startup have the capacity to lead the team, understand the market and the depth of technology? Are the founders - people with experience and exposure? If yes to all questions, my money is in it”. Finding a smarter solution by spending as little time and money as possible may as well be the main trait of the Israeli innovator. Once a VC sees the potential and capacity within a startup to achieve great results without yet any considerable investments, deliver outstanding tech, generate the first cash flow and have a strong team - money starts pouring in. Here is a snapshot of the private market landscape in Israel.  

Naturally we also covered the topics of knowledge transfer, unicorn exists and commercialization of university research - we leave these topics for the next series of insights about Startup Nation.

Meanwhile, a thought: change doesn’t happen overnight. And culture may as well be the hardest things to affect. But even though we cannot so swiftly adapt the best practices from Israeli mindset and cultural dogmas, we can surely start by integrating the open innovations concept. Which means working with startups, fostering innovations, and supporting emerging technologies.

Stay tuned for more industry insights and digital sneak peeks!

Yours, Catapult team.


5 Disruptive FinTech Startups

Catapult_poster (4).png

Fintech industry is booming - innovators and entrepreneurs across the globe are taking over. VCs are making the biggest bets in the financial sector, and the exponential growth of VCs spending doubled in 2018 comparing to all of 2016 and 2017 put together. Fintech is a multi-billion dollar industry with nearly 1,500 venture capitalist-backed deals - and the year is not over yet.

Completed VC deals for fintech startups

Apart from Stripe and SoFi, the vastly growing services that pop in the media and on the market a lot, there are dozens of newly born fintech unicorns that conquer B2C and B2B markets. We’ve picked 5 fintech growth companies that have become unicorns by challenging banks and other institutions with new disruptive technologies.


1. Revolut

www.revolut.com

London, England

This banking app provides mobile foreign exchange services designed to help in global money transfer. Expanded to the sectors of cryptocurrency trading, property investment and insurance, Revolut has quickly raised a whopping $250 million led by DST Global at a valuation of $1.7 billion in April. At the moment, a unicorn has a growing number of over 2 million customers with a count of £15 billion-worth of transactions.  

2. OakNorth

www.oaknorth.com

London, England

Another London-based fintech startup worth mentioning is OakNorth, which provides lending solutions for SME. The idea of giving loans that are backed by cash flow or a mix of other assets instead of property appealed to to several backers Singapore's EDBI and NIBC Bank, bringing OakNorth to the funding rounds of total $576 million.

3. N26

www.n26.com

Berlin, Germany

N26 is considered to be one of Europe's pioneers in digital banking, providing mobile banking services intended to redesign banking for the people, making it simple, fast and contemporary. Germany's unicorn raised $160 million in a round led by Allianz X and Tencent. It is expected that the company will process around $16 billion in transaction volume in 2018.


4. Coinbase

https://www.coinbase.com/

San Francisco, California

Continuing the cryptocurrency trends, US-based unicorn, Coinbase, is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. The company has raised $217 million in funding, which allowed it to gain a unicorn status with a $1.6 billion valuation.

5. Atom Bank

www.atombank.co.uk

Durham, England

A mobile-only bank intended to offer internet banking services, Atom Bank, focuses on business lending and mortgage products. The company’s valuation is £450 million with netted £149 million in a round led by BBVA (again) and Toscafund. Atom Bank has already taken around £1.3 billion in deposits, as well as lent out more than £1.2 billion to businesses and homeowners.


Now, the real question arises - what is the next step for big banks and financial institutions to up the game, when competing for the same market space alongside innovators and disruptors becomes harder and harder? Catapult has an answer to that question - with its result-oriented and data-based services that help big corporations find the best tech solutions across Europe.

Stay tuned for more industry insights and digital sneak peeks!

Yours, Catapult team.


5 Largest Unicorns in Europe

Catapult_poster (1).png

There is more than one “corn“!

Even though China and US remain to be accelerating most unicorn companies around the globe, you would be surprised to see how fast Europe is catching up. Before diving into the 5 largest European unicorns, first things first - we must renew our unicorn vocabulary. With the new funding dynamics and types of companies appearing on the market today, we’ve officially entered the age of decacorns and hectocorns.

Catapult_poster (2).png
As of August 2018, there are more than 270 unicorns (and other “corns”) around the world. And Europe’s tech scene is hotter than ever with over 30 unicorn startups on the market!

Largest venture capital-backed unicorn companies in Europe in 2018, by market value (in billion euros):


Let’s take a look at the top 5 largest unicorns in Europe in 2018:

 
2000px-Spotify_logo_without_text.svg.png

Spotify

Digital music service that gives you access to millions of songs.

Headquarters: Luxembourg City

Founded: 2006

Employees: 3000+


adyen-vector-logo.png

Adyen

Global payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments.

Headquarters: Netherlands

Founded: 2006

Employees: 880


Farfetch_logo_logotype.png

Farfetch

Online luxury fashion retail platform that sells products from over 700 boutiques and brands from around the world.

Headquarters: England

Founded: 2007

Employees: 2000


17c8251ef3ba40a2b1b8f61cb468be57.png

Auto1 Group

Europe's leading car trading platform.

Headquarters: Germany

Founded: 2012

Employees: 3500+



5842a8fba6515b1e0ad75b03.png

Telegram

Cloud-based instant messaging and voice over IP service.

Headquarters: Germany (initially)

Founded: 2013


Despite the industry variety of aforementioned unicorns, they all have one thing in common - being digital, being tech and being innovative. It’s all about disruption - the old processes efficiently transformed into the upgraded digital platforms, systems and offerings. This is the world today, wherein Unicorns, Decacorns and Hectocorns almost always go with the suffix “tech”.

Find your tech solution using Catapult’s Europe-wide access to over 100.000 growth companies and solution providers!

Stay tuned for more industry insights and digital sneak peeks!

Yours, Catapult team.