It was a full house yesterday when Integra Advokater opened the doors to their fantastic premises and let startup enthusiasts in. Kemp & Kjær had been responsible for the invitations, and the two companies also delivered presentations on PR and legal issues related to investments. Nicolaj Højer Nielsen closed the event with both relevant and funny stories about his investments in companies.
Big turnout
Integra’s main hall was full, and many people had already arrived long before the first speaker. Here they could enjoy the delicious refreshments served by the law firm.
Robert Jønsson, partner and lawyer at Integra, was the first speaker.
After welcoming the attendees, Jonas Mikkelsen was introduced and the lawyer delivered an exciting and lively presentation on the many challenges that startups face. And he assured that all startups were very welcome at Integra, as they are a law firm by and for entrepreneurs.
Jakob Hessellund from Kemp & Kjær then took the floor. The attendees received good advice on PR, and there was a particular focus on press coverage in connection with the hunt for investors and how to get the best publicity out of an investment.
As the cherry on the cake, Nicolaj Højer Nielsen delivered a very funny and insightful presentation on what he looks for when investing. As promised in the headline, we now deliver what Nicolaj Højer Nielsen looks for when investing.
Højer Nielsen has invested in Recon Instruments, Penneo, Motility Count, Codesealer, Plato, Sepior, Capdesk and has his own investment company called Copenhagen United.
What does an investor look for when investing
In a gross oversimplification of Nicolaj Højer Nielsen’s very good presentation, here are some of his main points in short form.
– He is looking for an idea that solves a problem. And that is worth investing in, in the sense that the solution has to be 100-500% better than the current one or completely new. He gave the example of a mobile phone battery, where everyone is interested in getting longer life or faster charging time. If someone came to Nicolaj and said they could do 20% better with their idea, he wouldn’t bother investing in it. Because after the product is on the market and everything is in place, other or current mobile companies like Apple and Samsung have already come up with something similar. So it has to be a quantum leap.
– The market has to be big enough. For example, AirBnB wouldn’t work if it was only in Denmark.
The team is the team
– The team is the most important thing. If Nicolaj Højer Nielsen finds that there are no salespeople on board, he won’t invest in it. And since Højer Nielsen primarily invests in tech startups, the developers must be good. “It’s no use having developers sitting in India because of time differences and cultural differences.
– A team needs to be on the same page. So there needs to be a clear agreement on where you are ready to move and how much time you can put into the project.
– There has to be dedication. You can’t build a company if you only work Tuesday and Thursday nights. If someone hasn’t invested in the store and gone full-time, Nicolaj Højer Nielsen won’t invest in the company.
Beer testing is important
– The beer test must be passed. If you’re going to succeed with a startup, you’re going to spend more time with your team than with your family, boyfriends and spouses. Therefore, you need to be able to put up with each other and have fun together. Nicolaj Højer Nielsen has gotten drunk with all the companies he has invested in.
Nicolaj Højer Nielsen also said that he met 3-400 companies a year.
