On 7 March, 15 companies backed by the European Innovation Council (EIC) pilot headed to Stockholm to learn more about the IPO process and pitch to top European investors.
The event was promoted by the EIC pilot business acceleration services together with Nasdaq First North, one of the leading exchanges for European SMEs looking to raise capital in the public markets. It gathered 15 SMEs funded under the EIC SME Instrument program working on deep tech and at an upscaling or growth stage.
The selected companies had the opportunity to hear the experience from other entrepreneurs who had taken the IPO road on Nasdaq First North, get a deeper insight on what it means to operate in the public environment and pitch their business to top-tier European venture capitalists.
Talking to Adam Kostyál, Senior Vice President of Listing Services EMEA at Nasdaq, we learned more about the evolution of Nasdaq First North, his views on the European tech sector and how that reflects on the number of companies going public: “What’s happening in Europe is very exciting. There’s a whole technology framework in terms of entrepreneurs, investors and overall technology development which allows for an impact on so many sectors and dimensions of growth. Many of these companies remain in private hands for a very long time. What we want to do is to make these companies understand that the exchange can be an alternative for them.”
Niclas Holmberg, Managing Director of Global Listing Services at Nasdaq, also spoke about the companies funded by the EIC pilot already floating on Nasdaq – from the 17 companies that have gone public after receiving a grant from the EIC pilot, 10 are listed on Nasdaq First North - and the motivations behind the event: “Growing companies have a huge need of capital I think it’s good to have a good mix of both private public and private investors. But it’s not all about the investment, it’s about all the other activities the EIC pilot is doing to support the companies. It’s fantastic to see these brave entrepreneurs gathered in Stockholm. We understand the company’s needs to raise capital, but we also want to support them on their growth journey.”
In the end, Happy or Not, Submer and Tilt, took home the awards for best pitches. Alongside the three pitching sessions, all the companies had the opportunity to engage in one-to-one meetings with investors to further deepen the discussion on their business model, technology and financing needs.
Check here all the photos from the event.
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DISCLAIMER: This information is provided in the interest of knowledge sharing and should not be interpreted as the official view of the European Commission, or any other organisation.