Do you have what it takes to attract investors to your startup? 

A group of 20* knowledgable business people with capital to invest are eager to make a select few of the applying startups as investable and valuable as possible. And they have each committed 50 000 NOK to a group investment of 1 million* NOK in one of the applying startups. 

It is your job to convince them it should be in you! 

Apply by sending in your pitch before the next program.  

Apply here


THE SELECTION PROCESS


 

PHASE 1: APPLICATION AND PRESELECTION

Every applying startup is studied by the investors and organizers and the 20 best startups are invited to meet the investors in phase 2. 

Startup requirements: There is a dedicated team, Registered company, Some level of concept validation, An existing MVP, Maximum a few years old company, Have time to participate in all the workshops in the program

 

PHASE 2: STARTUP MENTORING AND INVESTOR PITCHING

The 20 startups are invited to participate in one day of mentoring and feedback, and a two day pitching session. 

You also get the chance to listen to other startups and learn from their pitches, and to mingle and meet all the entrepreneurs and investors. 

 

PHASE 3: DUE DILIGENCE

Welcome to the golden egg of Angel Challenge, this is where the magic happens for the 5 select startups. 

20 investors will help your startup become a killer investment case, but only if you have what it takes to receive their unbiased feedback and support. For 5 evenings you will meet with the investors, first in plenum to learn about investing, and then in groups where 2-5 investors give you their full attention for a few hours.

Their goal -> to make your startup as investable as possible! 

 

PHASE 4: FINALE

It is time for the 5 finalist startups to show the world how amazing investment-cases they have become. 
And one will get the promised investment!


Questions & Answers


Terms and conditions? 

The investment terms is governed by a convertible note agreement that will be presented in the first workshop.

In short, the terms are: 

  • Valuation Cap:15 Million NOK
  • Discount: 25%
  • Interest: NIBOR +3%

What is the investment format? 

The investment will be done as a convertible note with a discount.

You will be taken through this in the beginning of the program. 

Here is a great Quora thread walking through the details of convertible debt/loan. http://www.quora.com/How-does-Convertible-Debt-work

 

What can you win? 

There is one final investment of 1 million* NOK that goes into the one winning startup.  

Everyone also wins in knowledge and network, or even a side-investment from some of the participating investors. 

 

What does the *  in 1 million* NOK mean?

*The amount invested depends on the number of participating investors, investing 50 000 NOK each. 

We are inviting investors to participate, but we have no guarantee for how many investors there will be. There might be more, and there might be less than 20. Read our blog and news to get the latest updates on how many investors there are. 

 

 

Who can apply? 

Everyone can apply, but dont expect to come far in the competition if you don´t comply with most of these expectations: 

  • There is a dedicated team
  • Registered company
  • Some level of concept validation
  • An existing Minimum Viable Product (MVP)
  • Maximum a few years old company
  • Have time to participate in all the workshops in the program

 

What does it cost

  • It is totally free for startups to participate unless you get the final the investment. 
  • The winning startup pays a 50 000 NOK program fee to the organizers. However the organizers are also investing 50 000 NOK, so it is a zero sum cash game.