Broadcast on their Angel Challenge experienceHåvard Haga talks about their experience fundraising through Startup Norway's Angel Challenge program.
The founders of Broadcast from left to right; Stine Mari Røverdatter, Tim Harris, and Håvard Haga.
Håvard Haga, CMO of Broadcast took some time to tell us about his experience taking part in the Angel Challenge program. For context, Broadcast is a curated guide to the concert and clubbing scene in Oslo, Norway. From metal to classical, with everything alternative and fresh in between, Broadcast Oslo is free to use for all, and does one thing and one thing only... lets you see whats happening in Oslo.
We certainly learned a lot. It’s rather intensive, but that’s quite cool because it’s better to go at a fast pace in the startup scene. Overall, it’s a good format even though it was online. That way, you can gather people from the whole country. Inspiring, engaging, a lot of skilled people, and fun to participate in!
…so it was a perfect time for us to join. Everybody was extremely patient, helpful and resourceful. It was one of the best moves we could have made to boost us into the next stage. And we have learned from the best. Apart from the funding, we also learned a lot about the process, valuation and all other important aspects of funding a startup. We did have a good control of some of it prior to the program, but the whole process filled some knowledge gaps and helped us become more aware and focused.
All the tools for working with valuation from both sides, risk mitigation processes and countless other factors – on top of the hefty know-how and funding!
…none of them were able to offer such high-quality guidance and documentation. It was very well laid out, professional and valuable. We went for it and never regretted that decision. We of course had to go through the terms, what was included and how it would all work. Aside from that, however, it was all good!
Being among the winners helped us receive a sort of “stamp” to not only validate our company more, but also to gain a bit of prestige. Not only did it help us engage other investors, and therefore increase the amount raised, but we also effectively spread the work about us, which further strengthened our brand.
You’ll need to do your homework, but it’s definitely worth it, even if you don’t get funded. I think it’s a great process anyway, and the learning curve is definitely steep! We definitely have a lot more knowledge now. I was able to put myself in the investors’ chair more than I used to, so definitely I have more respect for all the different metrics that add up for you to make your decision in investing. Now, everything is going according to plans, if not even better. There is a lot of positive stuff going on ever since the Angel Challenge. We reached some important milestones this summer, and we have signed several deals which are extremely important for us to pivot into the next stage of the company.
