Seafood startups are challenged as they try to successfully scale their startup while meeting complex situations. This session took place over three days, as startup participants in “Capital Raising in the Seafood Sector” undertook a simulation with complex deals, cap tables, liquidity math, business pitches, and team dynamics. Important learnings that startups will be putting into practice. On February 10, the startups will present their pitch to invited investors.

How can you successfully scale your startup? Screenshot: StrategyTools

Helps startups raise capital in the seafood sector
The cluster program receives great feedback from participating startups. So far three out of four digital sessions is completed. On February 10 the startups will present their investor pitch to invited investors.

– The NCE Seafood Capital Raising Program has helped us a lot in structuring ourselves. It’ll be helpful in the long term with the investment community around Shrimp Vision, especially in Bergen. It’s very positive that NCE Seafood is doing this, as it’s not just the participants of the Capital Program that will benefit from this, but the entire startup community in the seafood sector says Sjur Øyen from Shrimp Vision.

Last week we did the Strategy Tools Scale-Up simulation. Over three days the teams tried to succeed with the scaling of a company by thinking strategically, partnering with the right investors, and accelerating growth without going bankrupt. The simulation gave important learnings in evaluating complex deals quickly, cap table and liquidity math, business pitches, and team dynamics.  Our program partner Christian Rangen and Rick Rasmussen, an experienced VC from Silicon Valley, did a great job in challenging the teams and coaching them, sharing their insight, real-life cases, tools, and techniques.

– I have little previous experience with the mechanics of fundraising, cap tables, term sheets, etc, I absolutely loved the scaleup simulation. I’m left with a feeling that I’m able to enter into constructive conversations with targeted potential investors after this part of your program says Jannecke Olsen from JET Seafood.

In the simulation, participants meet obstacles and discuss options. Screenshot: NCE Seafood Innovation

– This was a challenging exercise – with great learning! We all experienced how difficult it is to think ahead and that complex deals make the cap table math challenging as you grow. The scenarios in the simulation are based on real-life cases and investor deals which makes the exercise realistic and extremely useful for our entrepreneurs on their scale-up journeys! says Pia Rønningen from NCE Seafood Innovation

About the cluster program
If you are a seafood startup in need of improving your knowledge about capital strategy and how to partner with the right investors at different valuations – join our next Capital Program starting 2nd half of 2021. Contact Pia S. Rønningen

Read more about the cluster program “Capital Raising in the Seafood Sector” on our program page.