Startups get advisory board for a day
How can I convince investors to finance product development? What’s the best go-to-market strategy for my company? How do I transform my company from development to manufacturing? These were some of the questions companies asked leading figures from Denmark’s robotics industry when they met recently for ‘Advisory Board for a Day’.
“You can’t put a price on the value of a session like this; it really is incredibly valuable to tap into decades of expertise from people in the industry who’ve been through the same journey as we are on right now. Their deep knowledge in all areas from investment to market strategy to licence models shines through and is priceless,” says Teit Silberling, CEO and Co-founder of Spin Robotics.
Spin Robotics were one of six robotic and drone startups/scaleups that recently participated in ‘Advisory Board for a Day’ facilitated by Odense Robotics. Lifeline Robotics, Nordic Wing, Spin Robotics, Tonus Tech, Trendlog and X-drive Robots were split into individual sessions where they sat face-to-face with a panel of CEOs to discuss top-of-mind issues in complete confidence.
Behind closed doors, companies were able to tap into the experience and know-how of leading executive figures from no fewer than 12 cluster companies: Cabinplant, Capra Robotics, Danish Technological Institute, Inwatec, Jorgensen Engineering, KUBO Robotics, Micro Technic, OnRobot, Lorenz Technology, Mobile Industrial Robots, REInvest Robotics and VISTI UNLIMITED.
Increasing success
The session is a way of helping startups/scalups – and ultimately the entire cluster – grow, says OnRobot’s CEO Enrico Krog Iversen, who originally had the idea for the session.
“By passing on knowledge about the mistakes we’ve made, CEOs like myself can help younger companies avoid the same pitfalls. Hopefully, the session can increase the companies’ chances of success, so that the entire cluster continues to grow,” says Iversen, who hosted the event including a tour of OnRobot’s new manufacturing and warehouse facilities.
There was a huge diversity in topics discussed. Maintaining strong company culture while onboarding many new hires – that was one of the issues top of mind for drone development company Nordic Wing.
“It gave us the chance to take a step back and get independent expert advice that’s rare to come by otherwise. With complete confidentiality from the beginning, we could quickly open up and discuss matters at the heart of our business. We gained valuable takeaways, which I look forward to working with,” says Esben Nielsen, CEO of Nordic Wing.
Helping each other grow
For Spin Robotics, the session was a way of deep diving into their distributor strategy, a key element in their transformation from startup to scaleup in the future. The day gave them invaluable knowledge and is a strong testament to the unique collaboration in the cluster, says Silberling:
“It’s amazing that we can help each other in the cluster. That we see each other as colleagues rather than competitors. And that the best in the industry are willing to open their doors and invest their time and expertise in others. It says a lot about the people and the cluster’s unique community.”