Just a few weeks ago ArcticStartup has launched a survey among Nordic and Baltic startups to gether information on their fundraising activities. The analysis of survey results has revealed some interesting insights about startups’ need of money and sources of funding.
Overall, 61 startaups have participated in the survey. Most of them originate in Finland, Norway and Sweden. Unfortunatly there was not much data from Danish startups.
The majority of startups has stated that in order to get going they need at least € 20 000 of initial funding. This information is contrary to what was previously stated by some companies – that funding at the very start is not an issue.
In the plethora of funding opportunities FFF (Friends, Family, and other Fools) remains the most common way of acquiring funds. Second most popular way of fund raising is through government funding and grants. On average grants amount to € 55 000 and are received from a single source. Most of the companies had to sacrifice no more than 20% of equity in exchange for financing.
Interestingly, Nordic and Baltic startups are valued at approximately € 1 051 259 which means that a 1% stake in the company is worth more than €10 000.