Meet the founders: Vegard Grepstad
CEO & Co-founder
How did you come up with the idea for your startup?
Kids and youth today are not, in the same extent as when I was growing up, playing outside and with sports that are not organised by teams or clubs. We want the kids to come back outside and play with their friends and meet new friends on a common platform. To do this we use their biggest attention stealer, the cell phone, and combine whit past success activities like football. In this way bringing the best of two worlds together.
We want our products not to be just for the elite, but for all kids and youth to play, train and have fun with.
What's your entrepreneurial history, or is this your first go at a startup?
One startup on behalf of my former employer. On behalf of myself, this is my second startup.
If you weren’t building your startup, what would you be doing?
Probably still be working for my former employer as a Commercial Manager of Innovation
What are you REALLY into outside of building your company?
In 2019 I will have my first child and get married. I am part of a global test panel for computer games who are pre-launch and in early alpha and beta, this is a hobby that brings me a lot of benefit in my work. I’m into sports fishing, mainly freshwater but the later years more and more salt water. Also, I like to cook and arrange dinner parties with my friends.
What have been the hardest part during the early stages of your startup?
To secure the necessary financing
What's the one thing you wouldn't manage without when starting your company?
What drives you as an entrepreneur?
The thrill of succeeding together as a team by turning great ideas and visions into real life products and profit
What's your experience of fundraising and dealing with investors?
This is the second round fundraising for Sports Computing, last round we got onboard a professional investor and an industrial investor. In earlier projects and companies, most of our financing has come from pilot customers and grants from municipalities and Innovation Norway.
My experience is that we are all human, we all look for different details. The most important factor for both parties in an early stage company is to get the chance to sit down together and get to know each other.
What do you look for in an investor?
Early stage, it’s important to have the right mix of industrial and financial owners to ensure the right competence in the company. Chemistry is also an important factor.
Why did you decide to apply for Angel Challenge?
To evolve my own competence. How can I make it easier for investors to understand our company and make an investment?
What's the one thing you feel that you are better at than most other people?
Bringing the right people and strategic partners together to work towards a common goal.