Scredit Crunch

We Never Give Up (we were accepted to Seedcamp!)

Posted in Life, Scred by setok on April 26, 2011

As some already know, the Scred team is currently busy working on a very unique and ambitious new product. We’re using all the experience gained from running and putting out something truly outstanding.

Back in 2008 we had the huge privilege to take part as finalists in Seedcamp Week. This was a week long mentoring session in London with hundreds of investors, media representatives and fellow entrepreneurs. It was probably the one thing that pushed us furthest in our ideas and ambitions and taught us a lot about what we are doing. Several hundred ideas applied, and were narrowed down to 40, and then 20 finalists selected for that week. We were one of the 20. We weren’t one of the final 7 winners, although we deeply desired to be, but it was still an experience I would recommend to anyone.

As proof of that we applied again with this new product. We weren’t even sure this was possible, and had to email Reshma Sohoni, CEO of Seedcamp, to see if we could take part again as previously successful finalists. With the permission given to go ahead we prepared our application once more, digging out some of our old answers from 2008. Some time later, we got the news: we have been accepted!

The system has changed a bit. Now teams are expected to apply via Mini Seedcamps, which are organised in many locations around the world. From there some are, we believe, selected for Seedcamp Week, or even as winners directly (ie. investment). For what it’s worth, I think this is a better system.

The odds are, of course, against us. Only a handful will receive investment through Seedcamp. Some of those will become huge successes (and obviously some non-winners will become huge successes too). We will do whatever we can to become one of the Seedcamp winners this time. We want it, and are hungry for it, but that means doing an excellent job presenting our case against teams from many countries. Explaining it in a clear and coherent way, and demonstrating the business case to be sound. We’ve been there. It’s an uphill struggle and I won’t say we weren’t hugely disappointed not to make it all the way to the end last time. But we are here, as entrepreneurs, to take every chance we can get.

Everyone who has supported us: keep your fingers crossed and, if you’re in Sweden, be sure to come and meet with us. And if you haven’t applied to Seedcamp: shame on you. I know many Finns did not. That will be your loss.

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