Spreading the positive rain
The other day Martin Bjergegaard was talking to a MBA class at CBS, which turned out to an incredible 2 hour Q&A. Here is what the MBA class wrote about their meeting with Martin and the ideas behind Rainmaking:
We want 25,000 hangarounds in startupbootcamp!
/Carst
Imagine if we can attract 25,000 people to follow and engage in www.startupbootcamp.dk and the ten selected startups, which will go into the startupbootcamp program in June this year!
It would have significant value for the ten startups if they can use this communication platform to spread the word about their new ideas and products. People could provide valuable feedback througout the development phase; help with contacts and network; and even be the first real customers.
Our goal is therefore to attract 25,000 hangarounds in startupbootcamp. We have to work fast … and if you can help us it is highly appreciated.
Be our next hangaround – follow us on: twitter, facebook and LinkedIn
/Carsten
I hate NDA’s!
Rainmaking receives about 10-20 potential new projects per month from entrepreneurs around Europe. The entrepreneurs and their ideas vary in quality but there are some really quality stuff in between.
Unfortunately, some of the teams insist on signing Non Disclosure Agreements (NDA’s) before they will even tell a little bit about their ideas. I have 100% respect for this if they had a pharma or biotech product, which need to be protected with IP rights, however, in most cases we are talking about very simple ideas with no chance of IP protection.
These entrepreneurs simply think they have invented the most fantastic idea in the world and now they are so afraid that someone will steal the idea. In 99% of the cases my guess is that exactly this type of persons will never succeed as entrepreneurs and I find this attitude wrong for two reasons:
1) It will be hard to sell anything if you are not willing to talk about your product/idea! And sales should start as early as possible when you develop new products and services. It is in the close interaction with your supposed customer that you will end up developing something that can turn into a success.
2) It is (almost) all about execution and the team – and not about the idea. There is therefore no reason to be so afraid of discussing your idea with other. It only helps developing it.
In Rainmaking we are very open about discussing our ideas and our experience is that this has great value. Often we can kill an idea much earlier because people we interact with can tell us why this idea will not work. And in other cases we can develop a good idea into a great one in just a few days because we discuss it with great people who each add a few good things to sharpen the idea.
/Carsten
Frokost.dk is nominated for two awards – vote now
At Rainmaking we are proud to announce that Frokost.dk has been nominated for the prestige’s e-commerce award. At the same time Frokost.dk find themselves nominated for the User-award, why we would like to encourage our visitors to vote for Frokost.dk here.
Thank you!
Bangladesh, January 2010 – Abdura Rassak
When visiting Bangladesh we had a great opportunity to meet two families. Here is the story of Abdura Rassak who is a day-worker, he is married to Hena, and together they have three daughters; Rumana aged 18, Rumpa Sasker aged 15, and little Sweety aged 5. All three girls go to school attending respectively 1st grade, 10th grade, and college. Rumana is not in the picture as she was in school when the picture was taken. In Bangladesh, schooling admission is free for girls through to college; for boys, however, admission is only free through to 5th grade. This differential treatment is constituted by law as girls traditionally have not been attending school. This entails that there is now more girls than boys in the schools, and that the girls are doing better due to the additional years in school. For a poor day-worker such as Abdura, the free school admission has been crucial for his ability to send his girls to school.
Rumpa Sasker, aged 15, becomes quiet when we ask her what she would like to be, when she grows up. All of a sudden, she talks a lot and does so very quickly – she has obviously thought long and hard about this particular question. Rumpa Sasker says that she would like to do all sorts of different things, but she knows that her opportunities are limited due to her poor background. But – she can become a teacher, and she would very much like that. Sweety, aged 5, has not yet felt the same limitations, so she says that she wishes to become a doctor.
In October 2009, the Rassak-family lost their home, but luckily they received help quickly from the Disaster Management Group for which reason, they themselves as well as their belongings were rescued. However, they have still not a new place to live but have instead set up a small camp on a steep slope acting as a dike for the road.
The family lives in the village Sonaikazi among approximately 500 other families – out of these, 200 families have experienced to lose their home. For this reason, the citizens in the village have, on own initiative, built a bamboo construction with the purpose to prevent soil-erosion.
Erosions occur often, but when the water level increases in the river, the soil disappears even faster. The bamboo constructions can ensure the soil if they are placed with about 100 metres intervals. This costs the village 100 workers for three days – so all in all, including materials and wages, each construction amount to about 500 EUROS. The construction and its maintenance are relatively simple and it does not require expensive materials that are hard to obtain.
The bamboo construction is merely one example of how the citizens in the village, by the means of organization, have been strengthened and are taking initiatives to specific projects, as well as engaging in dialogue with the local government through the federation, in order to have their rights complied with. In addition to this, they have also planted trees alongside the roads to secure the roads during floods.
The Management Disaster Group has also helped to provide 50 pumps with water, which can function even during floods when the existing pumps are under water. They have further obtained the promise that the locale government will finance that at least 40 houses will be raised upon plateaus and that all houses will get sanitary facilities installed.
The Management Disaster Group consists of the following subgroups with individual areas of responsibility:
Early warning group, who by the means of news and other sources assess whether there is a need to send out warnings; if so, this is done by the use of megaphones.
Rescue group, who makes sure to find the distressed people and bring them and perhaps their belongings to safety.
Damage and need assessment group gathers information about the disaster and communicate with the locale government about the current needs.
Shelter management group takes care of the women, calls for medical treatment when needed, and provides shelter.
Representatives for the different groups in the Management Disaster Group tell about their respective functions.
Bangladesh, January 2010 – Suliman Kha
On Thursday June 11th, Rainmaking hosted a charity dinner at restaurant Noma where 85 guests raised 600.000 DKK for climate projects in Bangladesh. The project had been pre-approved by EU who 4-doubbled the collected amount. As a result 2,4 million DKK was donated to make a difference for some of the World’s poorest people.
Since then, we have had a chance to visit Bangladesh and to see how the work progressed. Here is the story of one of the families we had the pleasure to meet.
Suliman Kha is a farmer and casual laborer; he has only a small piece of land at which he grows jute, tobacco, rice and spinach – the production varies over the course of a year. Through this project, Suliman has learned that his soil can be better exploited if the crop varies. He has also become acquainted with the new and more robust rice sort, which can endure being under water for 50 days. This is a very big advantage as it means that the rice will not be destroyed by the floods that come each year in June and July.
Sulimans wife is named Mocheda Kinok; she takes care of the house and their cattle; they have a cow as well as two “shared-goats”. This means that they do not own the goats, but they take care of them and as a provision, they get 10% of the selling price, when the goats are sold. The animals live inside the house as they are very great assets for the small family.
Suliman and Mocheda have a daughter aged 9; she attends 2nd grade at school and dreams of being a teacher when she grows up.
The family’s house is situated in the village, Purba Dewabari. They have always lived in this village, however, no less than five times have they experienced that their home has disappeared in the floods. They have lived in their current house for four years, but it is also build upon a plateau, installed to ensure that the floods cannot sweep the house away. As a further insurance, stones have been placed under their beds and tables to make sure that a small flood will not destroy their few possessions. Yields are stored in barrels with waterproof lids buried in the ground, and other possessions are placed high up under the ceiling on a shelf built for this purpose.
Suliman himself has participated in building their house, and he and Mocheda are very glad that they can now create a future for their daughter. They are very aware of the great importance of the work made by the Disaster Management Group, and have themselves experienced the crucial impact of the help, they received when their homes disappeared – so today, they are happy to contribute when some of the other people in the village need a place to be when the floods are coming.
2,500 people are living in Purba Dewabari; 700 of these are adults. The village has two schools; however, 20% are illiterates, and 50% of the adults are able to sign a signature. There is no possibility to receive medical treatment in the village, so it is imperative to be able to travel to the nearest, larger town.
Until now, 15 houses have been built upon plateaus. There is no shelter in the village, so the houses built on plateaus function as shelters for the other citizens until they are rescued to the mainland. The village has no boats so they are dependent that the Disaster Management Group’s alarm system is working.
The primary occupation in the village is fishing (from bamboo rafts and from shore) as well as agriculture where eight different crops are cultivated.
The house of Suliman and Mochedas
Q&A: The background of Rainmaking and the beginning of Startupbootcamp
Carsten Kølbek is Partner in Rainmaking which is organizing Startupbootcamp - an entrepreneurial initiative where each entrepreneur can get DKK 25.000 as seed capital to start a company in three months.
What is the point with Startupbootcamp?
--The purpose of Startupbootcamp is to support and strengthen entrepreneurial teams with good ideas. The target group consists of entrepreneurial people in Northern Europe, and we hope to receive approximately 250 applications from teams. From these, 10 will be selected to enter a three-month program in Copenhagen over the course of the summer 2010. The goal is that the teams will move from idea to prototype or product, which at the end of the program will be presented to a large group of investors.
Who is Rainmaking?
--Rainmaking was founded in 2006 by Martin Bjergegaard, Morten Abildgaard Kristensen, Morten Bjerregaard Nielsen and I. Since then, we have had two exits with the GodtSyn and CityLasik, both related to eye surgery treatments, and both sold to the eye treatment company Memira with Investor Growth Capital as major proprietor. In the beginning of 2010, we opened an office in London, and we are planning to open an office in New York within the next two years.
Why did you initiate Startupbootcamp?
--More and more self-employed business people approached us wanting to do business, and with Startupbootcamp we have found a good way to comply with these approaches. Also, we want to be attractive towards new and edgy entrepreneurs and hopefully contribute to the making of the next Skype. Last but not least, we feel that we have learned a lot about entrepreneurship over the last couple of years, and we would like to give something back as well as pass on this knowledge.
Who’s helping?
-- Approximately 50 top mentors from our network will take part in Startupbootcamp passing along their good advices as well as open some doors to their own networks.
Who have been your “rolemodels” to start Startupbootcamp?
--We have been inspired by Tech Stars, Seedcamp and Y Combinator. We have not found any similar initiatives here in Scandinavia. Although there are plenty of councils, incubators and investors, we have not seen others, who help entrepreneurs with the first and crucial steps in such a hands-on approach.
By Anders Frick, Rapidus
Team day at Rainmaking
On January 27th the Rainmaking group gathered for a team day held at Martin Bjergegaard's appartment in Frederiksberg. We looked back at what had been achieved in 2009 and shared objectives for the coming year.
It was the first time I ever joined a Rainmaking meeting and it's safe to say this isn't your usual bunch of entrepreneurs and investors. We spent as much time discussing values, charity and protecting the unique Rainmaking culture as we did talking about deals, investments and startups.
2009 was a seminal year for Rainmaking with the exit of Godtsyn. This not only lays a solid financial foundation for the partnership but has raised the visibility which has in turn improved deal flow. At any one point Rainmaking is taking a close look at five to ten investments, internal startup projects or cooperation offers with other entrepreneurs. The current batch includes an online supermarket, a specialised chain of surgery clinics, a unique 3D mannequin solution, an innovative domestic transport provider, an online tutoring portal and several others. The list of existing projects includes Startupbootcamp which I didn't need to introduce; the whole team is aware of the potential it represents for Rainmaking in terms of financial upside, deal flow, and plain exposure.
Probably the other most significant milestone was the opening of the London office; the first of many which will expand Rainmaking's footprint and ability to launch startups rapidly on all major continents. The vision is to be able to plug ideas and proposals into the network for each office to determine the potential fit with the local market - without reinventing the wheel each time.
Equally important to the Rainmaking team is what was achieved in the charity and CSR area. When Martin, Morten B., Morten K. and Carsten formed their partnership in 2007 they signed a manifesto, which reflects their focus on the bigger picture. The part which resonates the best with me is "We want to be a part of the solution in this world, not a part of the problem." Of course at at the end of the day what counts is action not words. And in this area Rainmaking delivered by raising 600.000 DKK (which were multiplied by 4 by the EU) for a project in Bangladesh (picture). In 2010 one of Martin's priorities is to get BetterNow.org off the ground. BetterNow is a web-based video channel enabling donors to contribute to specific projects with full visibility and transparency. Watch this space, this could seriously impact the world.
Plenty on the plate, from continued execution for the existing startups to successfully launching some major initiatives. But come what may, Rainmaking intends to be a part of the solution, not of the problem and I'm thrilled to be in on the adventure.
/Alex Farcet
Rainmaking enters the climate-race
Rainmaking has entered the climate-race by becoming 100% Co2 neutral. In the past week, Rainmaking - as well as all six companies included in the portfolio - has been accredited with the prestige’s Co2 neutral label.
Hereby, Rainmaking ensures that the collective 63 ton Co2 footprint, for all seven companies, is covered in collaboration with “The carbon neutral company”. Such a contribution helps to develop and operate a range of clean technology projects e.g. wind power, hydropower, methane capture and biomass or in other words the energy of tomorrow.
What a day in Rainmaking!
Executive summary of the 5th of January 2010
09.00: Met with partner colleague Martin Bjergegaard http://www.rainmaking.dk/hvemervi.aspx?lang=dk and discussed a new potential project within online retail. Also touched upon general allocation of resources for our new projects in UK
10.05: Met Tanveer – the cofounder of http://dk.vopium.com/ - and discussed a health care idea. Very exciting.
11.44: Nice lunch from www.frokost.dk – of course
12.15: Met Kasper Vardrup http://dk.linkedin.com/in/kaspervardrup and Michael Bodekaer http://www.michaelbodekaer.com/ to discuss potential ways of working closer together in the future. Great people! Hope we can find a win-win solution.
14.06: Replied to email update from Michael Wiegert – successful Swedish serial entrepreneur – concerning a possible CleanTech project we are evaluating together
14.53: Booked tickets for next weeks trip to London where we will have steering committee meeting in www.cyclepods.co.uk. Meeting are also booked with Henrik Werdelin from Index Ventures and three local entrepreneurs whom we might get an opportunity to work with.
16.15: John Zoffmann – cool designer and architect – visited our new office and had tons of ideas how to make our new offices illustrate our values, culture and innovative concept
16.37: Posted new job opportunity (online marketing assistant) on CBS, IT University and DTU job portals
16.42: Received first two applications within 1 minute … wauw
17.14: Received application from Estonia for our www.startupbootcamp.dk program. How did we reach out there?
20.15: Worked on the people and portefolio strategy for 2010 for www.rainmaking.dk – so many opportunities and so many great people who we can work with – but how do we match it all up in an effective and efficient way? Not to mention financing it all …
21.34: Watched 3 episodes of Klovn (a Danish sitcom). Big laugh and a fantastic day was over.
/Carsten
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