Test of The Investment Readiness Process by Beels® - for Swedish deeptech-startups

Purpose and goal:

The first objective has been achieved as the evaluations show that the IRP can be used to meet the needs of deep-tech companies as described in Vinnova´s objectives.

The evaluations show that the incubators and their business coaches believe that the IRP fulfils the purpose of raising the financial engineering skills and capabilities of deeptech founders.

The second objective was to deliver an implementation plan including funding and this is being met by allowing the incubators to use Vinnova´s excellence and verification funds to finance the companies´ implementation of the IRP. Expected results and effects:

The project resulted in the participation of 8 incubators and 8 deeptech companies. All deeptech companies went through the full Investment Readiness Process and became IRP Certified.

Evaluations with founders and business coaches showed that IRP effectively raises financial engineering skills. The expected impact is that founders are able to plan, implement and use grants, loans and equity to increase the pace of development and maintain incentives for founders, while offering investors a relevant potential return relative to risk.

Approach and implementation:

8 deeptech companies conducted 5 online meetings of 2 h each with an IRP instructor and completed 8 tasks documented in the software for The Investment Readiness Process. On average, companies conducted the IRP for 8-12 calendar weeks. All companies became IRP Certified.

The business coaches participated in 6 online meetings for IRP supervisor training, and the 5 meetings with the companies where they had an audience role. The business coaches are now IRP instructors and need to lead their own IRP to become IRP Certified Supervisors. The analysis is that the methodology was successful.