Meet the founders: Frode Skretting
Founder & CEO
Rodeo Holding AS
How did you come up with the idea for your startup?
Founder, Frode Skretting, a specialist in General physiotherapy MNFF, did his Masters Thesis in 2011 on the effect on the spinal health of children sitting on a medicine ball. The results of the study were significant. Driving home after successfully defending his Masters' thesis, he came up with the idea of developing a chair with the same ergonomic movements of the medicine ball but at the same time removing all the medicine ball's shortcomings. Together with Hareide Design and funds from inter alia Innovation Norway, IPark and 1. price Innovation award from SRBank, Frode Skretting developed the first prototype Rodeo chair, today known as the Rodeo &ROLL Chair. The &ROLL Chair has been sold to High School and elementary Schools With great customer feedback and references. In 2015 Rodeo won the most prestigious Norwegian design award: Merket for god design.
What's your entrepreneurial history, or is this your first go at a startup?
This is Frode Skrettings first major go at a startup
If you weren’t building your startup, what would you be doing?
Frode Skretting still practices as a Specialist in General Physiotherapy working part-time at his own institute and part-time working for Rodeo as CEO in charge of growing the company, meeting clients and existing and potential new partners, designers and other stakeholders. He is in charge of production and product development. In 2016 Randi Karin Sudmann Tunheim was hired first part-time and thereafter full time focusing mainly on sales, marketing and administrative daily tasks of Running Rodeo Holding AS. Randi is also a shareholder in Rodeo Holding AS. Second largest Shareholder and now working full time with Rodeo as COB, Gro Elisabeth Lundevik, contributes with competences and experience from 25 years in Corporate Banking, in EVP management positions in the Norway, the Nordic and Asia. Lundevik is an investor and lead investor in other international startup companies, COB and board member as well as looking after other investments. Lundevik contributes on IPR matters, Finance and accounting, contract negotiations, sales, and Clients Meetings.
What are you REALLY into outside of building your company?
Family, children and friends, Cultural events and sports. Frode and Gro both have a background as gymnasts on the Norwegian National Gymnastics' team.
What have been the hardest part during the early stages of your startup?
For Frode in the start, combining Family, ordinary work and being a founder of a startup without much support from others in the beginning.
What's the one thing you wouldn't manage without when starting your company?
Passion and drive to achieve.
What drives you as an entrepreneur?
Passion for contributing to the global spinal health and improved learning environments in classrooms through active sitting working hard for the Rodeo Chair, &ROLL, to be sold to millions of children and adults in markets worldwide.
What's your experience of fundraising and dealing with investors?
This is the third time Rodeo raise funds dealing with investors. In addition, Rodeo has secured grants from Innovation Norway, IPARK, skatteFUNN and through innovation awards. COB has considerable experience, both from a banking career and as an investor, lead investor, and board member.
What do you look for in an investor?
Preferably experience as an investor and founder building a company. Relevant network, and knowledge about the industry or similar industries with the same value drivers. First and foremost passion for our Company vision, values, and business goals. Integrity and values that are similar to our own. Capability to invest time in Rodeo and be a good sparring partner with complementary experiences and competencies to our own.
Why did you decide to apply for Angel Challenge?
COB of Rodeo has previous good experience with Angel Challenge from the investor side. AC provides good network and practical tools to further professionalize and grow our company. Raise capital to reach our business goals and market potential in local and international markets.
What's the one thing you feel that you are better at than most other people?
Ability to be creative, see opportunities, act on them and make it happen.