innovationnorway_white_symbol.png


INNOVATION NORWAY GROWTH CHALLENGE

 

Take the challenge and grow your company to the next level.

Innovation Norway and Angel Challenge are joining forces to challenge all Norwegian business builders to aim higher and build growth companies for a global market. 

 
redgray.jpg
 
 

As if creating an amazing product or service isn't hard enough on its own, turning your company into a growth machine can be a daunting mission.

Setting your company up for growth requires excellence in every aspect of your business. Structured asset creation, metrics to drive your growth and systematic dialogue with customers, partners and investors. 

Startup participation criteria

Any startup with ambitions for growth are invited to take the challenge. From idea-stage to 10 people teams, the program is tailored to the participants need.

  • A dedicated team with growth ambitions

  • Some validation in their market to show for

  • Early version of a product or service to show for

  • Registered company (during program at latest)

  • Available to participate in all program activities

Startups will be invited to join after a selection process by organizers and investors. Up to 20 startups pr program.
Read more about the application process here

 

Integrated with the Angel Challenge program

The Innovation Norway Growth Challenge is an integrated part of all Angel Challenge programs in Norway. 

All startup companies that take part in the Angel Challenge Programs in Norway will be enrolled in the Innovation Norway Growth Challenge. The Growth Challenge consists of several extra lessons, workshops and activities for the companies within the program. All these elements are created to help your company grow into a superstar and attract the investors from the AC program. 

Screenshot 2018-09-10 12.50.23.png
 

Find the next program in your city

 

The four growth challenges

To get your business into proper growth mode, we challenge you to work towards excellence in four areas.

  1. The customer acquisition challenge

  2. The metrics challenge

  3. The Investor readiness challenge

  4. The storytelling and pitching challenge

 
Screenshot 2018-09-10 17.19.03.png

1. Customer acquisition

Attracting clients to your company is the one and only true measure of success. We will train you on methods to structure your approach, and challenge you to show that you are able to attract clients to your company. 

 
 

2. Metrics

Do you know how to measure your progress? Today, the most progressive growth companies need to have solid perspective on the status of growth, track every move of the business performance and measure what matters. We will challenge you to become a world class metrics driven startup. 

Screenshot 2018-09-10 17.39.11.png
 
 
 
Screenshot 2018-09-10 17.50.44.png

3. Investor readiness

A solid fundament for the structure of your company is a requirement for growth. Any partner, investor, bank or other supporter will at some point in the future of your company look at how structured your company is set up, how well you have protected your assets, and how strong you are for future growth. 

We challenge you to build a valuable company structure, and potentially become investor ready by the end of the program. 

 
 

4. Storytelling and pitching

Getting your story right is a vital part of attracting attention to your company. Bring it new customers, new employees, media attention or investors, you always need to tell a story that communicates your dreams and visions in the most effective way.

In the program you will be challenged to tell your story in many formats. Either as a pitch to investors or journalists, a text on your sales webpage, or to new potential employees. 

The Challenge is on you to tell the world why they should care about your company! 

 
Screenshot 2018-09-10 17.23.57.png
 
 
 

Frequently Asked Questions

What is the Innovation Norway Growth Challenge? 

The Innovation Norway Growth Challenge is a two month process where startups and growth companies are supported, trained and challenged to improve on key areas to build a strong and sustainable company. 

The Challenge is structured as a 2 month process, and is integrated with the Angel Challenge Programs running in Norway.

Why is the growth challenge integrated with Angel Challenge? 

Angel Challenge has been given the 'challenge' by Innovation Norway to improve upon our programs to help many more startups from Norway become global growth companies. 

By integrating with the Angel Challenge Program, we have a structured two months process to help and support startups all over Norway. 

Also, by integrating with the program, you will get real life engagement, dialoge and feedback from investors looking for their next investment opportunity. If you prove to be investment ready now or in the future, your chances of getting an investment to support your growth ambitions are miles higher. Because investors invest in startups they know, and you will get to know lots of investors that want to see you succeed. 

How does this connect to Innovation Norway?

The Innovation Norway Growth Challenge is a part of the Innovation Norway Global Entrepreneurship programs

“ Are you an entrepreneur with international ambitions? Innovation Norway offers learning and networking opportunities in hubs around the globe as well as bringing international experts to locations in Norway.”

Global Entrepreneurship

Do I have to be investor ready to join?

No!
The entire purpose of this challenge is that you will receive help to become investor ready, or understand what it takes to become ready. 

If you are, or become investor ready later, the investors in the Angel Challenge Community will know you well from having worked alongside you through a program, and likely be curious to invest when you are ready. 

Do I really need to take investments in my company for it to be a growth company now or in the future? 

No, not at all.
But any company with growth ambitions will need to be structured and build as an investable asset that gives value to its owners.

The owners can be the founders only, your employees, or others if you want to bring in external owners through investments in your company. 

You will learn that external investments are a tool you can utilise when you need your company to grow even faster. When you are ready to grow fast, invested capital might be the solution. 

Can I join the program without plans for getting investments? 

Yes, absolutely.
But you need to have growth ambitions. Any company that has growth ambitions need to structure their assets and capture value to their company. If you want to be your own investor, or bring in new investors, you still need to go through the same process to build a growth company. 

 
 
 
 

The Growth Challenge timeline

The Growth Challenge is an integrated part of the Angel Challenge programs running in Norway from 2018. 
All 20 startups are invited to take part in the full 2 month program.

WEEK 1-6: INSIGHT AND DEVELOPMENT

Let’s get to know each-other and learn together:
All investors and startups spend 6 weeks together, learning about startup investing and company growth through weekly training sessions. With teamwork, homework, lectures, and presentations the investors and startups learn together and build trusted relationships. 

WEEK 6-8: NEGOTIATIONS AND GROWTH CHALLENGES

Negotiate a deal, or grow your business:
After the first 6 weeks, the 3-5 most investor-ready startups are invited to join in investment negotiations. The others receive individual growth challenges from the investors, structured training workshops with mentors and facilitators, and have the opportunity to impress again at the local demo day. 

WEEK 8 -12: FUNDRAISING

Always be fundraising:
Some say there is a recipe to building a growth company, and that it involves investors at some point in time. For some, that time is today, for others, it is later. The challenge is on you to grow your startup and fundraise when ready! 

 

The Growth Challenge timeline during the Angel Challenge Programs in Norway. 9 weekly workshops for all 20 startups taking on the Growth Challenge

Read about the full Angel Challenge program here for more detailed descriptions of the investment process. 

 

Want to know more? 

Register for more info about the challenge, or reach out to us with any questions you might have.

 
 
 
 
Skjermbilde 2018-09-07 kl. 14.36.05.png
 

Call Eirik!

I am here to help you with any questions you might have about joining the Growth Challenge and Angel Challenge. 

Eirik Nerdal
+47   900 33 575
eirik@angelchallenge.com