Seed Forum International Foundation
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| Seed Forum International Foundation | |
| Founder(s) | Seed Forum Alumni |
|---|---|
| Founded | 2003 |
| Key people | Steinar H. Korsmo, Odd Moe, Trond Frost, Tommy Bundli, Ingri M. Johnsenm, Stian Selvik, Jon H. Egilsson |
| Area served | Worldwide |
| Focus | seed capital |
| Method | training and marketplace |
| Volunteers | +/- 50 |
| Owner | Foundation |
| Website | www.seedforum.org |
Seed Forum International Foundation (SFIF) is a British not-for-profit foundation with the aim of generously providing access to private equity for early stage companies. Since the establishment in 2004, SFIF have hosted national and international investor matchmaking events for start-ups and venture capital . A nomination, selection and pitch training process takes place prior to each event.
Contents |
[edit] History
The Seed Forum concept was created at the Campus Kjeller Science Park in Norway in 2002 and it has since then grown rapidly. The process is currently a global process including born global companies from Scandinavia, from the Baltic Countries, from Russia, from Poland, from Germany and from the United States.
A first local Seed Forum process was conducted by the Seed Forum Norway Foundation in Kongsberg in Norway in 2004, and local Seed Forum processes are now conducted in most of the regions in Norway. The local concept in Norway has become a powerful tool within regional development where the Seed Forum Norway Foundation also has an important role with initiatives of creating local Business Angels Networks. The first local process in Sweden was conducted in Karlstad in 2006, and the local concept in Sweden is being developed by the Seed Forum Sweden Foundation.
Seed Forum is after 6 years of existence annually bringing more than 200 born global companies with more than 300 investor presentations to more than 40 investor matchmaking forums in 17 countries.
The process has created a tremendous activity and many investor leads has been created by the companies participating in the investor matchmaking forums. The companies are also gaining theoretical and practical competence and learning’s from participating in the pitch training and in the investor matchmaking forums.
The born global trend also means that start-up companies are seeking equity investment from investors in other countries much earlier than before, and many companies are also presenting in Seed Forums in other countries as a part of their strategy for internationalization. As investors in other countries by their investments and networks are bringing born global companies into new markets, this is also creating a situation for Seed Forum as a "blue ocean" opportunity for internationalization of companies.
The Seed Forum concept has been developed as a best practice and as an entrepreneurial initiative with a scalable organization. This has allowed Seed Forum to develop fast and has currently become a global concept. The Seed Forum process may currently be recognized as an export product from Norwegian (Scandinavian) innovation to many other countries.
HISTORIC HIGHLIGHTS
Spring 2002: 1st Seed Forum London with companies from the Campus Kjeller Science Park in Norway
Autumn 2002: 2nd Seed Forum London with companies from the Oslo area
Spring 2003: 1st Seed Forum pitch training in Norway
Spring 2003: 3rd Seed Forum London with companies from all Norway
Spring 2003: Seed Forum Norway Entrepreneurs network is established
Spring 2003: Seed Forum Norway Foundation is established
Spring 2003: 1st Seed Forum Oslo in cooperation with Venture Lab
Spring 2004: 1st Seed Forum Moscow
Spring 2004: 1st local Seed Forum in Kongsberg in Norway
Spring 2004: Seed Forum International Foundation is established in London
Autumn 2004: 1st Seed Forum New York City
Autumn 2004: Seed Forum Iceland Foundation is established
1st of January 2005: Seed Forum International Foundation taking responsibility for all international Seed Forum processes
1st of January 2005: Seed Forum Norway Foundation moves to new premises in the IT Fornebu Science Park in Oslo
Spring 2005: 1st Seed Forum Reykjavik
Autumn 2005: Seed Forum Norway Entrepreneurs network is transferred into the Seed Forum International Entrepreneurs network working out of London
Autumn 2005: 1st Seed Forum Stockholm
Autumn 2005: The President of Iceland gives the opening remarks at the 2nd Seed Forum Reykjavik
Autumn 2005: The President of Iceland participates in Seed Forum New York City
Autumn 2005: Seed Forum London is organized in The European Bank for Reconstruction and Development
Autumn 2005: The Lord Major of the City of London is mentioning Seed Forum as a major collaboration between Norway and the UK during his welcoming speech to the King & Queen of Norway in the official dinner in Guildhall
Spring 2006: Conclusion of collaboration between the Seed Forum Norway Foundation and Innovation Norway regarding all local processes in Norway
Spring 2006: Seed Forum London is organized in Mansion House and the Lord Mayor of the City of London gives the opening remarks
Spring 2006: 1st Seed Forum Helsinki
Spring 2006: 1st Seed Forum Tallinn
Spring 2006: 1st Seed Forum Shanghai
June 2006: The President of Iceland introduces the Seed Forum concept at Bessastadir in Iceland to the President of Nippon Keidanden – the Japanese Federation of Industries
Autumn 2006: 1st Seed Forum Warsaw
Autumn 2006: 1st Seed Forum Minneapolis
Autumn 2006: 1st Seed Forum Beijing
Autumn 2006: 1st Seed Forum San Francisco (Palo Alto)
Spring 2007: A national collaboration agreement for Norway is concluded between the Seed Forum Norway Foundation and the DnBNOR
Spring 2007: 1st Seed Forum Copenhagen – Seed Forum is hereby a complete Nordic process with forums in all Nordic capitals
Autumn 2008: Seed Forum North America Foundation is established working out of New York City
Autumn 2008: 1st Seed Forum Hamburg
February 2008: Seed Forum Sweden Foundation is established
February 2008: Seed Forum Estonia Foundation is established
February 2008: Seed Forum Poland Foundation is established
March 2008: Seed Forum Latvia Foundation is established
Spring 2008: 1st Seed Forum Riga
Spring 2008: 1st Seed Forum Kiev
Spring 2008: 1st Seed Forum Madrid
[edit] Q&A The Process and Services
What is the cost? Companies confirmed to participate in the international Seed Forum Process is obliged pay a self-contribution fee of currently EUR 2490,+ VAT per process and in addition disbursements. The self-contribution fee for companies participating in a local Seed Forum Process is set by each Seed Forum Master Partner.
There is no fee for investors to attend a Seed Forum.
There a no success fee for participants in Seed Forum.
Who are attending the forums? This may be different depending on the destination and how long a Seed Forum has been conducted in each destination. In most forums there will be professional investors such as representatives of venture funds and private investment companies and also private investors such as Business Angels. In the forums you may also meet corporate finance representatives and other finance institutions with an objective to finance start-ups. Seed Forum does not distribute lists of participants in the forums.
What is the industry focus of Seed Forum? Each Seed Forum has its specific industry focus depending on the destination. All forums have a focus on not less than 4 industries.
What help can I get from Seed Forum? Seed Forum is providing training for born global companies through the training session in the process. Seed Forum does not provide any advice on investment nor marketing of investment proposals as we are not involved in brokerage or financial promotion. All leads from the Seed Forum Process must be followed up by the companies themselves and Seed Forum will not be able to assist nor advice on further contact with investors or other participants after the forums.
What documentation will I receive? The Business Summary formula filled in by nominated companies is the only document about the company which is stored by Seed Forum. All other documentation such as business plans, brochures, investment proposals etc. is securely deleted immediately if such is received by Seed Forum. It is the responsibility of the company to distribute the investment presentation and further documentation to the investors and other participants during or after the forum.
What are the results from the Seed Forum Process? The expectations from investors are mainly that the born global companies presenting are investor ready and that the Seed Forum Process is reducing the risk on investments. The expectations from the presenting companies are to receive finance, competence within investor readiness and focus on internationalization. Seed Forum is not aware of all financial deals as a result of the process as we are not involved in brokerage, but we know that many companies are obtaining finance through their own negotiations and efforts after participating in the process. External evaluations of the process show that the companies are gaining competence within investor readiness. Focus on internationalization and many investor and financial leads.
