I realized a while ago, that on my blog I have done only sporadic updates on how things are evolving with my own startup, GenieBelt. Too bad, because things have been more than normally exciting especially the last one and a half year, and the journey so far is a good story of persistence and ambition, which I think startup interested people can learn from. (more…)
We, the construction genies from GenieBelt, just raised an angel round of $½ Million, yehaa! That's not a lot of money compared to some bigger funding rounds I have done in the past, but it's exactly what we need and the feeling is as good as when I did £40 Million rounds. And what will the money be spend on? (more…)
Everyone knows the demograpic facts: the human population is not only growing, but in the developed part of the world (and increasingly so in other major regions, e.g. China), the proportion of elderly people is growing even faster. And the old are also getting older! That poses a big challenge, since it is a core responsibility of any society to take care of the elderly, those that worked hard so those following would inherit a better world (preferably!), and with a bigger and bigger portion of the population being older it gets costly for the working population to sustain a good level of elderly care. As in so many other situations, part of the answer to that challenge lies in technology. Biotechnology and innovation in health care in general is of course part of this. An important part of the many elements that needs to get in place, is how to make existing assisted living/elderly care more effective. In Scandinavia there are thousands of homes for elderly people, that no longer can live by them selves, and need daily support - and you can add tens of thousands more in countries like Germany, UK, Japan, USA, etc. If you visit these homes, you will see how the nurses and assistants are running very fast to cope with all their daily routines and the constantly appearing emergency situations. They are also acutely aware, that they will not get a lot of extra resources to cope, maybe on the contrary - so how can the work be organised more effectively so they can maintain a good service level with sufficient "warm hands" to take care of the elderly? Half a year ago, I was contacted by some of the founders of Sekoia (not the VC of more-or-less the same name) who had worked on a solution for exactly that: work-flow management for the elderly care homes. At first, it might sound like a simple issue, but I am working/has worked with several teams doing work-flow management for specific industries, and the devil is always in the detail. You can use some generic solution, but the big productivity gains always come from customizing to the specifics of the industry. And the Sekoia guys had spend nearly three years fine tuning the concept before they recently went into sales mode, i.e. they knew very well what the needs are of this sector. And with their open platform concept, I believe this is a winner. The team ticked the boxes for me (chemistry, potential, progress, I can help, etc.), so we quickly decided to team up, and I became investor and active chairman some months ago. I have spend some time working with parts of the team, and last week we had a couple of days off-site (in a cabin used by kindergartens that needs a bit of nature - proper!) where I got to know the whole team. That only gave me more confidence in that we have something really good brewing. Lately, the team has turned up the volume and sharpened the philosophy behind the solution and seen even better customer feedback. The team has also started to get more into sales mode, and talked to the relevant institutions (p.t. only Denmark, but we have big plans ...) about the philosophy behind the solution, and there is great reception, it really is a way for the sector to both drive effectiveness as well as quality. Even without significant sales activities, Sekoia now has dozens of solutions sold. That might not sound like a lot, but in Scandinavia, where we have a relatively sophisticated set-up for assisted living, no other player has more than one pilot in action. And in the rest of Europe, we haven't seen anything like our approach - this might end up as a good example of Scandinavian welfare technology being exported for the greater good. The number of 85+ year olds will grow by more than 150% between 2005 and 2030, and the population which is 100+ years old will quadruple, so wish Sekoia good luck in succeeding with the mission of making assisted living better and more cost efficient. As a minimum, the solution needs to everywhere when I need a warm, helping hand some time around 2070!
Three months ago, I heard about a small company in Copenhagen called Kirkeweb, which is Danish for Churchweb. Religion is always an exciting topic (too exciting for some!), but the key reasons why I got interested in the Kirkeweb story was, that the company was a start-up focusing on a clear niche (Churches) in a highly fragmented "industry" (most parishes and deaneries are fairly independently run organizations) where the need for a work flow management system is very clear, but no-one else in Europe seems to understand how to build and market to this highly specialized sector. I met the founder and CEO, Christian Steffensen, and then I quickly became hooked on getting involved. Christian could explain clearly how churches has significant benefits from using the system to streamline administration processes, internal communication & coordination, web site management, etc. and thereby have more time/resources to focus on the core tasks of the church (Love!). So, all the classic benefits of good work flow systems were also clearly seen in this "industry", and on top of that Christian through his long history with the church (programming church websites and admin systems since he was 11 years old) knew how to interact with the church community. Also (and Christian will hate me for writing this), Christian is a smart cookie who is a proper entreprofessional mixing the best of entrepreneurship with the desire to do things in a smart way. This means that since the Danish part of the business is doing really well with critical scale of churches signing up, then it is now becoming important to move out of tiny Denmark. Kirkeweb is engaging with the Church community in Germany, the first churches has signed up and much more is coming. This ticks the last box for me, since my background and skill set is a great fit to help Kirkeweb and Christian in the coming years as Churches all over Europe will see the benefits of easy-to-use Church Management Software. I joined Kirkeweb as chairman/bestyrelsesformand in April, and I think this is the beginning of a long and fruitful journey, amen!